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USD being backed at 50% is a fairy fantasy less likely than a pink unicorn coming down to Earth and solving climate warming. They weren't even backed at 50% a f
by bluecalm 5y ago
USD being backed at 50% is a fairy fantasy less likely than a pink unicorn coming down to Earth and solving climate warming.
They weren't even backed at 50% a few years ago when their market cap like 10+x smaller in comparison to what is now. 5% is an optimistic estimation for how it it is today.
- koonsolo 5y agoOk, so let's say bitcoin is half priced then... still ok for me :D Besides, not being backed by real USD doesn't mean people didn't pour in real money. So in the end only the Tethers that were created out of thin air count towards the price inflation. So the ones people paid money for are still 'legit' in that sense. So worst case still seems OK for me.