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Converting to a different crypto just means that whoever you traded with is now holding the Tether you paid them. In the absence of a practical redemption mecha
by SpicyLemonZest 5y ago
Converting to a different crypto just means that whoever you traded with is now holding the Tether you paid them. In the absence of a practical redemption mechanism, someone will always end up holding the bag.
- washedup 5y agoYes, correct, thanks for the comment. I guess I see the people who are buying Tether (exchanging bitcoin for Tether for example) are market makers or lenders and appreciate the liquidity that Tether offers, who would certainly be crushed by Tether collapsing. Overall though it shouldn't affect the demand for other blockchains... but negative news / narratives can do a lot of damage
- shkkmo 5y agoHow does a loss of demand/liquidity not have a direct effect on blockchain token prices?