3 ms·

A) why would I need to? B) why would I need to? C) why would I need to?

arcticbull 5y ago
Because that's what determines how much you can exchange each BTC for - not necessarily in USD but in terms of goods. Those are substantially they only things that determine how much each BTC is worth. You have to trust they don't unravel or your net worth will be substantially impacted.
- randomhodler84 5y ago
  Nah… tether is less relevant today than ever. Maybe in 2017/2018 it was another story. I suspect in 2022 the other stables will overshoot it anyway. Folks seem quite excited about UST as another algorithmic option today. We are still in price discovery phase for BTC, and will be for a while longer. There are 1.3M coins available for purchase today, dropping at about 100k/month. I feel this will have a far greater effect than some stablecoins. I feel nothing for wild swings to my net worth. If anything, it has made the very concept of money more nebulous to me.
  - arcticbull 5y ago
    > Nah… tether is less relevant today than ever. Yeah, no, but I do wish you luck with that. [1] USDT is 50% more volume than BTC and ETH combined. It's all the liquidity in the entire market. It's more important now than ever. [1] https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether https://www.bloomberg.com/news/features/2021-10-07/crypto-my...
danaris 5y ago
Because you just said "don't trust, verify".
- randomhodler84 5y ago
  Nah, I don’t feel I need to verify any of those. I buy the coins and get them off the exchange. I don’t touch tether. Why would I care what games people are playing on the exchange, as long as I get my coin at the market price, I don’t care. I am talking about not trusting (eg: relying on a fixed source of with no verification, eg: trust anchor. A ‘root CA’ is a good example of a trust anchor. BTC does not have this at all.) Verify the block. Verify the tx. Verify the sig. that is all.

Because that's what determines how much you can exchange each BTC for - not necessarily in USD but in terms of goods. Those are substantially they only things that determine how much each BTC is worth. You have to trust they don't unravel or your net worth will be substantially impacted.

randomhodler84 5y ago
Nah… tether is less relevant today than ever. Maybe in 2017/2018 it was another story. I suspect in 2022 the other stables will overshoot it anyway. Folks seem quite excited about UST as another algorithmic option today. We are still in price discovery phase for BTC, and will be for a while longer. There are 1.3M coins available for purchase today, dropping at about 100k/month. I feel this will have a far greater effect than some stablecoins. I feel nothing for wild swings to my net worth. If anything, it has made the very concept of money more nebulous to me.
- arcticbull 5y ago
  > Nah… tether is less relevant today than ever. Yeah, no, but I do wish you luck with that. [1] USDT is 50% more volume than BTC and ETH combined. It's all the liquidity in the entire market. It's more important now than ever. [1] https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether https://www.bloomberg.com/news/features/2021-10-07/crypto-my...

danaris 5y ago

Because you just said "don't trust, verify".

randomhodler84 5y ago
Nah, I don’t feel I need to verify any of those. I buy the coins and get them off the exchange. I don’t touch tether. Why would I care what games people are playing on the exchange, as long as I get my coin at the market price, I don’t care. I am talking about not trusting (eg: relying on a fixed source of with no verification, eg: trust anchor. A ‘root CA’ is a good example of a trust anchor. BTC does not have this at all.) Verify the block. Verify the tx. Verify the sig. that is all.