4 ms·
I am just waiting for the tether investigation to conclude before thinking about cryptocurrencies again. The market will be a different one after that.
by domano 6y ago
I am just waiting for the tether investigation to conclude before thinking about cryptocurrencies again. The market will be a different one after that.
- Mc_Big_G 6y agoIt will be interesting to see what happens, but the market cap of Tether is only 27 billion and BTC + ETH caps are almost a trillion. Even if all Tether are suddenly worthless, it would be a speed bump in the cryptosphere.
- altarius 6y agoThe prices are sort of set at the margins. There was a study a while ago that a relatively minor amount of actual cash can move the btc price (a couple million, despite market cap then in the billions) by carefully driving it up. I don't know what they're currently printing weekly, but afair they print a billion or so every couple weeks when they're really at it, that's probably enough to substantially move the market, or at least support it. What happens when there's no more $1B over a few weeks to support BTC when the price is under pressure next time? I'm not saying that's necessarily the case but the problem with tether and how it's used is potentially much bigger than the market cap indicates.