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I doubt it's crashed forever, I think a lot of what we're seeing right now is because of the long overdue reckoning for the "stablecoins" that people have been
by _23sd 4y ago
I doubt it's crashed forever, I think a lot of what we're seeing right now is because of the long overdue reckoning for the "stablecoins" that people have been treating as if they're worth $1 despite knowing it was a lie for years. That destabilizes the markets really badly since so much trading either used them as USD stand-ins or used the credit mechanisms they enabled to push up volumes. People didn't stop believing in magic, that's a longer process.
- Ekaros 4y agoI'm kinda wondering just how long this market can keep burning money away and still keep the prices up. Or take them up again. It would be one thing if these were cheap to run, but they are insanely expensive. And seem to provide little value outside few things.
- dropnerd 4y agostablecoins are fine if they're backed correctly. ust wasn't did you know the money market (the "dollars" in your brokerage account) broke the dollar and the government bailed it out? https://www.investopedia.com/articles/economics/09/money-market-reserve-fund-meltdown.asp https://www.investopedia.com/articles/economics/09/money-mar...