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It would be nice if the market worked that way and every coin helped each other out as a "crypto team" to beat out fiat together, but the reality is BTC holders
by dheera 3y ago
It would be nice if the market worked that way and every coin helped each other out as a "crypto team" to beat out fiat together, but the reality is BTC holders are probably going to be spooked and not give you much BTC for your USDT.
And then everyone gets spooked of crypto as a whole and sells for fiat.
Basically whenever "shit" happens all of crypto goes down.
- loeg 3y agoI don't think this is responsive to my comment. You wrote: > it's more likely people will get spooked of crypto and sell [USDT] for USD. I don't think (the vast majority of) USDT holders can sell for USD fiat -- because they are locked out of the US financial system for one reason or another. That is, actually, the reason they are holding USDT instead. They can (try) to exit via BTC, and maybe they can cash out for some other fiat currency. Just not USD.