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This casually ignores the point being made. Tether is a fuel. USDT printed money without backing and pumped it into exchanges/btc/eth. Without that upward pres

by kd913 4y ago

This casually ignores the point being made. Tether is a fuel. USDT printed money without backing and pumped it into exchanges/btc/eth. Without that upward pressure, there will be nothing preventing btc/eth from freefalling. Heck without that, what is the point of the above coins either.

rglullis 4y ago
"Proper" stable coins are still important (at least for me who still would like to see crypto as a viable alternative for payments), and at this point I am honestly hoping for USDT and BTC collapsing. ETH's price is still unfortunately too correlated with BTC, so it will also fall down a lot when BTC comes under, but as long as the price of ETH is high enough to secure the network, it is not a problem.