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I don't think that's fair, these concerns have been around for probably five years plus and get a lot of media attention. As someone invested in this area it do

I don't think that's fair, these concerns have been around for probably five years plus and get a lot of media attention. As someone invested in this area it does get a bit old and counter productive being scared of the various boogie mens while missing all the enormous upside so far. After all, tether is 3% of total market cap, I think it's fair to say the effect if they disappeared tomorrow would be a bit bigger than that in an emotional market, might see a 40% dip or so but after that greed would make a recovery pretty fast and then grind to all time highs like allways. my five cents. edit: As the Dothraki slaves would say it, tether has pretty scummy people behind it, it is known. but that's ok.

thefreeman 5y ago
Quoting tether's total market cap is a bit disingenuous. What % of daily trade volume is tether?
cycrutchfield 5y ago
Market cap is a meaningless metric to use here. How many actual dollars are invested into cryptos? When it is revealed that 1 USDT != 1 USD there will be a rush to the exits and you will be begging and praying for only a 40% drawdown.
gammarator 5y ago
The most serious argument is that the “enormous upside” is being driven by Tether fraud. Take some money off the table…
spiralx 5y ago
Tether counts for 80% of the trading volume though, which is the important figure instead of the nonsensical "market cap" value so beloved of crypto fans.
wpietri 5y ago
"Market cap" is not a real thing here, because it implies that there is an asset to value. Cryptocurrencies are synthetic commodities with no use value. Your basic theory here is that bubbles always keep going up, even if sometimes they go down. But that's not how bubbles work. Tulip bulbs did not "grind to all time highs like allways". Neither did Beanie Babies. They both fell back to something approximating their use value. But what's the use value of some numbers on another person's computer? Approximately zero.
- johanneskanybal 5y ago
  The only part I agree with is the market cap part but my post already accounted for that and for good measure inflated the effect from 3% to 40%. Replace tulips in your sentence with money supply or assets and you'll get a different picture. You seem to have an unshakable opinion without having read the first thing about the subject, suggesting anything by Andreas Antonopoulos. edit: maybe something like "history of money", your "bubble" has been going since before writing.

thefreeman 5y ago

Quoting tether's total market cap is a bit disingenuous. What % of daily trade volume is tether?

cycrutchfield 5y ago

Market cap is a meaningless metric to use here. How many actual dollars are invested into cryptos? When it is revealed that 1 USDT != 1 USD there will be a rush to the exits and you will be begging and praying for only a 40% drawdown.

gammarator 5y ago

The most serious argument is that the “enormous upside” is being driven by Tether fraud. Take some money off the table…

spiralx 5y ago

Tether counts for 80% of the trading volume though, which is the important figure instead of the nonsensical "market cap" value so beloved of crypto fans.

wpietri 5y ago

"Market cap" is not a real thing here, because it implies that there is an asset to value. Cryptocurrencies are synthetic commodities with no use value. Your basic theory here is that bubbles always keep going up, even if sometimes they go down. But that's not how bubbles work. Tulip bulbs did not "grind to all time highs like allways". Neither did Beanie Babies. They both fell back to something approximating their use value. But what's the use value of some numbers on another person's computer? Approximately zero.

johanneskanybal 5y ago
The only part I agree with is the market cap part but my post already accounted for that and for good measure inflated the effect from 3% to 40%. Replace tulips in your sentence with money supply or assets and you'll get a different picture. You seem to have an unshakable opinion without having read the first thing about the subject, suggesting anything by Andreas Antonopoulos. edit: maybe something like "history of money", your "bubble" has been going since before writing.