Stablecoins only maintain their peg when they aren't being exchanged for actual dollars. When everyone runs for the exits during the inevitable crash, there wil

Stablecoins only maintain their peg when they aren't being exchanged for actual dollars. When everyone runs for the exits during the inevitable crash, there will only be so many dollars to go round. No real dollars are being created anywhere in any of this - it is all simply a astonishingly complicated mechanism for transferring wealth from the marks to the scammers (and to pay some enormous electricity bills). For example, printing USDT out of thin air and buying BTC with it supports the BTC price, this BTC is then brought onto the Tether books to back the newly printed USDT. The scammers then sell their own BTC into this price rise, receiving USDT which they (as privileged USDT account holders) can turn back into real dollars. The real dollars of course are coming from the marks who see BTC rising and dump their life savings into it, needing to buy USDT in order to buy the BTC. It is almost beautiful in a way - and absolutely should be shutdown real soon now.