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So you think Tether is untrustworthy. But do you think Tether is having any effect on the overall market?

• rglullis 6y ago
  No doubt. What does it have to do with you wanting to get rid of all of crypto, calling useful only for extortionists and scammers and with your certainty that PoS is never going to become a viable alternative?
  • user-the-name 6y ago
    It has to do with why I don't "just short crypto then". The market is manipulated. By shorting, I would assume that the market is rational, and will go down. There is no reason to assume this, since the market is irrational, and manipulated.
    • rglullis 6y ago
      "The market can stay irrational longer than you can stay solvent" is a maxim that is repeated way before blockchain or Tether was a thing. So I understand if you don't want to take your chances to bet against crypto. Yet, shorting Bitcoin is not the only way to put "skin in the game", and you should know that. - There are a dozen different projects popping up every week that are genuinely focused on solving the issues that armchair specialists love to criticize, you could work on them. - There are many crypto projects that have a more hybrid approach to have consensus and are more inclined to work with and not against the status quo (e.g, Stellar) - instead of just spewing the tired "crypto is for suckers" speech, how about finding a project that you think is deemed more worthy of respect. - There are lots of people that need some way to store and transfer value without relying on local governments or financial systems. If you think people shouldn't use BTC for that, what alternative are you going to bring/propose? So, to sum up: next time a discussion about BTC or crypto comes around, can you please drop the histrionics and bring something better to the table?