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Why would bitcoin spike?
by human20190310 7y ago
Why would bitcoin spike?
- ForHackernews 7y agoSince it's very difficult to convert USDT into real USD, if people were desperately trying to exit their Tether positions, they'd likely do it by changing for other cryptocurrencies like bitcoin.
- arisAlexis 7y agobut they don't and they never had so this argument is flawed
- Havoc 7y ago>Since it's very difficult to convert USDT into real USD, The irony in this sentence should given even the most hardened USDT fan something to think about
- jki275 7y agoAlso it's not "very difficult", it's nearly (if not exactly) impossible.
- human20190310 7y agoI think that would be a spike in Bitcoin relative to Tether, not relative to the dollar. In the extreme, people might want to exchange any amount of Tether for the tiniest piece of a Bitcoin, but that doesn't necessarily mean that the Bitcoin/dollar rate changes.
- h1d 7y agoWhy ignore any other negative impacts like, lack of confidence in crypto from USDT collapsing because crypto is still a Wild West having a random corp printing money at will and there will certainly be a group of people who will face huge loss when billions just evaporate and the impact all the exchanges take who are dealing with USDT? SEC is not going to like it and can probably lock ETF for a good while.