3 ms·
Issuing stablecoins isn't a scam by itself. The whole crypto ecosystem cashflow is the real scam. There is no liquidity. All it takes is a few people that panic
by gitfan86 5y ago
Issuing stablecoins isn't a scam by itself. The whole crypto ecosystem cashflow is the real scam. There is no liquidity. All it takes is a few people that panic and the whole thing falls apart, UNLESS there is someone ready to print money and prop up the market when panic sets in. That is why people need to understand what is going on with Tether. Bernie Madoff got shutdown because a whistle blower got the SEC to look at his books. If tether gets shutdown and no one is propibg up the market, it will crash hard.
- dsco 5y agoChina has banned Bitcoin several times, there’s been hacks, there’s been central banks going after crypto - yet it’s still here. Why do you believe the whole thing might fall apart? What you’re missing is that whenever there’s panic selling there’s always someone on the other side finding a great discount.
- gitfan86 5y agoThat is what they said about housing in 2007. I'm not saying that crypto is going to go away and never exist. I'm saying it could go down by 80% during a liquidity crisis induced panic.
- BlueTemplar 5y agoYeah, also bitcoin isn't a stablecoin, there were never any guarantees.