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I've been hearing Tether will depeg for nearly eight years now.

dhosek 4y ago
Markets can remain irrational longer than rational people can remain solvent. Bitcoin made no sense to me in 2007 and I have yet to see any compelling argument for crypto in general and as an investment it makes as much sense as “investing” in checks. But while I feel confident I’m correct, if I’d tried to bet against it, I’d have lost a lot of money. Doesn’t mean that I’m wrong though.
- TechBro8615 4y ago
  Theres nothing irrational about Tether if Binance is being honest. It's possible they're being truthful about not touching customer deposits of fiat USD.
- koonsolo 4y ago
  I always find it weird how people have believes and stick to them instead of having a curious mind and question or challenge their own thoughts.
  - hprotagonist 4y ago
    well eventually, if you have a curious mind, you’ll question or challenge your thought that it’s weird that people have beliefs and stick to them instead of having a curious mind and question or challenge their own thoughts …
- ipaddr 4y ago
  I feel that way about nightly entertainment shows that appeared after the news but before prime time. I hated them and saw no case for their existence. The shows seems so fake. Everything hype. But 20 years later people still like these shows and they live on. Just because I have no use for something it doesn't mean someone else might be more clever or resourceful with it. Betting against cryto is betting that everyone gives up on it which is different than if it will be useful to most. Cryto can work in different ways for different people. It is not ready for the masses but more people are finding different ways to use it everyday.
  - dhosek 4y ago
    I haven’t seen any compelling use case for crypto/blockchain. It’s slower and more expensive than existing solutions for payments and the anonymity is, it turns out, something that can be pierced by law enforcement. NFTs were an obvious scam from the start (except for the suckers who lost money on them). Web3 hasn’t provided any usable solutions. Meanwhile we have a bunch of crypto coins that have no inherent value that are serving as a remarkably long running Ponzi scheme.
  - wg0 4y ago
    Forget Blockchain. Just think of inventing a currency of your own. Paper currency. A designer designs it get it printed through printing press. What's worth of that currency? Then a few dozen more follow the suite and print their own design and own currencies - how much worth is that all? Zero. Add more limitations that no more than 7 or X number of people can exchange currency notes among themselves at a time and there's no privacy whenever you pay someone, your and their name gets advertised on TV, Radio broadcasts and is printed on NYT frontpage. That's how much useful any crypto is.
- wg0 4y ago
  > Markets can remain irrational longer than rational people can remain solvent. Amazing... What a summary.
  - dhosek 4y ago
    It’s a paraphrase of a classic John Maynard Keynes quote. https://www.goodreads.com/quotes/603621-markets-can-remain-irrational-longer-than-you-can-remain-solvent https://www.goodreads.com/quotes/603621-markets-can-remain-i...
xwdv 4y ago
Hang in there, soon you’ll never have to hear it again.

Markets can remain irrational longer than rational people can remain solvent. Bitcoin made no sense to me in 2007 and I have yet to see any compelling argument for crypto in general and as an investment it makes as much sense as “investing” in checks. But while I feel confident I’m correct, if I’d tried to bet against it, I’d have lost a lot of money. Doesn’t mean that I’m wrong though.

TechBro8615 4y ago
Theres nothing irrational about Tether if Binance is being honest. It's possible they're being truthful about not touching customer deposits of fiat USD.
koonsolo 4y ago
I always find it weird how people have believes and stick to them instead of having a curious mind and question or challenge their own thoughts.
- hprotagonist 4y ago
  well eventually, if you have a curious mind, you’ll question or challenge your thought that it’s weird that people have beliefs and stick to them instead of having a curious mind and question or challenge their own thoughts …
ipaddr 4y ago
I feel that way about nightly entertainment shows that appeared after the news but before prime time. I hated them and saw no case for their existence. The shows seems so fake. Everything hype. But 20 years later people still like these shows and they live on. Just because I have no use for something it doesn't mean someone else might be more clever or resourceful with it. Betting against cryto is betting that everyone gives up on it which is different than if it will be useful to most. Cryto can work in different ways for different people. It is not ready for the masses but more people are finding different ways to use it everyday.
- dhosek 4y ago
  I haven’t seen any compelling use case for crypto/blockchain. It’s slower and more expensive than existing solutions for payments and the anonymity is, it turns out, something that can be pierced by law enforcement. NFTs were an obvious scam from the start (except for the suckers who lost money on them). Web3 hasn’t provided any usable solutions. Meanwhile we have a bunch of crypto coins that have no inherent value that are serving as a remarkably long running Ponzi scheme.
- wg0 4y ago
  Forget Blockchain. Just think of inventing a currency of your own. Paper currency. A designer designs it get it printed through printing press. What's worth of that currency? Then a few dozen more follow the suite and print their own design and own currencies - how much worth is that all? Zero. Add more limitations that no more than 7 or X number of people can exchange currency notes among themselves at a time and there's no privacy whenever you pay someone, your and their name gets advertised on TV, Radio broadcasts and is printed on NYT frontpage. That's how much useful any crypto is.
wg0 4y ago
> Markets can remain irrational longer than rational people can remain solvent. Amazing... What a summary.
- dhosek 4y ago
  It’s a paraphrase of a classic John Maynard Keynes quote. https://www.goodreads.com/quotes/603621-markets-can-remain-irrational-longer-than-you-can-remain-solvent https://www.goodreads.com/quotes/603621-markets-can-remain-i...

xwdv 4y ago

Hang in there, soon you’ll never have to hear it again.