6 ms·
It will hold it's peg until it doesn't, and when it doesn't you will take a 50-70% haircut. Just watch.
by oooshha 7y ago
It will hold it's peg until it doesn't, and when it doesn't you will take a 50-70% haircut. Just watch.
- matthewbauer 7y agoTether’s worthless if it’s not worth a dollar. You’ll either get 100% or 0%.
- oooshha 7y agoIt's worth the market's perception of what the holders will get after a prolonged bankruptcy process.
- Scoundreller 7y agoThe lawyers and accountants get paid out of the leftover assets. If there's practically zero assets left, the process won't even start.
- rsynnott 7y agoYou may remember the implosion of mtgox, and people buying mtgox ‘dollars’ at a discount. There’s always a greater fool, apparently.
- gruez 7y agoWait, what's so foolish about buying debts for a discount? There's an entire industry (collections) devoted to that. Sure, that time they lost, but hindsight is 20/20.
- Forbo 7y agoMt. Gox bankruptcy claims proceedings are marching along slowly, so I wouldn't say that they've lost just yet.
- jeremyjh 7y agoThat is right, it is an industry. It has established risk models. It has norms and remedies. Most importantly, it has the triumvirate of debt worthiness (aka credit bureaus) at it's beck and call.
- JaleDarvis 7y agoIt had to start somewhere didn't it?
- conanbatt 7y agoIf you bought btc at a discount at mtgox you are mega rich now.
- asynchrony 7y agoIf and only if you got your btc out of mtgox.
- conanbatt 7y agoMtGox paying out with the remaining funds.