The stable coins are such a load of shit. If I wanted a digital dollar I could look at my bank account, not some joke of a coin! I didn’t know they were split across so many chains, that’s insane. It’s definitely really sketchy but perhaps it’s going to be used as a false flag to regulate the fuck out of the crypto market? I wouldn’t put it past them! It might need some guidelines but regulations are a pain and end up causing more annoyance in my opinion. There are lots of things going on in the world that are really sketchy, this one here seems to be another one.
LOL I’m siding with you stable coins are such a Trojan horse to me it’s only there for dollar junkie traders and as a way to regulate or bring down the crypto market since that 60 billion in USDT could have been in BTC right now
I don’t buy the narrative oh citizens in other countries need dollars what a load of shit! If we wanted dollars we could get them at the bank or black markets in just about any country yeah it’s slimey sometimes but I can get dollars in PayPal too
They say it’s better for remittance why? Bitcoin is instant and improves in purchasing power how is that not superior?
Yeah I think it’s people who are just trying to adapt the mainstream mindset to the future of decentralized money. They will be able to do that for a bit but decentralization will improve and they won’t have any additional need for shit coins like USDT, I think. They will stick around though as a way for people to get conned into the system which is annoying. Whoever down voted you looks like they are part of that con lol
Lol we all have our own path to walk I came into Bitcoin and then went down my shitcoin path now I’m back at Bitcoin! We will all buy Bitcoin at the price we deserve the thing is shitcoiners will be the last to get in because they believe so hard their centrally controlled coin is better it’s jusy fiat with a Blockchain you not fooling me
Yeah that’s true. I know everyone is looking for a diamond in the rough to moon with. It’s good but rare, I’ll throw a few dollars at some but I’ll keep getting bitcoin. Especially if the update comes in November to the network that reduces fees.
I used to do that too, I still have a few positions I need to unwind into BTC soon waiting for some greater fool to take it off my hands! I’ve just become so delusions With Alts as I learn more about them
Why are you still using the mainnet yes taproot will reduce fees but you don’t need to use it!
Stack on lightning or liquid and when you have reasonable amounts secure on the main chain
It also ensures you creating less UTXos so future transfers won’t be expensive
Well that is the issue with most stable coins and I know Tether itself has a lot of issues. I do think there may be a few other stable coins that may be fine but I don't see them doing well when people take money out.
I'm curious why the govt hasn't buried Tether into a grave and send the entire Crypto market back into the Dark Ages. Or are they waiting for a moment of MCD, Maximum Collateral Damage before they kick out a leg in the 3 legged stool called Tether.
That’s an interesting question well I know the NYAG has been on their ass but they paid the fine but I’m sure as this rages on it could make for a quick death punch! I just think markets are so fragile they don’t want to rock the boat just yet
But who knows? Perhaps like you say they just waiting to rug pull when it’s big enough
Sounds exactly like being put over a barrel. Must grease a few palms of the NYAG every now and then if USDT wants to stay in business. Even JP Morgan gets their hands slapped as a fine becomes a cost of doing business. The NYAG must be seeing this as a cash cow for now until thier Handlers decide to pull the plug.
And ofcourse they benefitting from retail and investor money removed from the trust to pay fines and if it does get taken down only retail gets hurt we the only ones without insurance and protection not like these exchanges holding USDT will be hurt
I don’t know why people think tokenising a dollar makes it any diffent same trickle up economics as always
I don't hold any USDT at the moment but it's usually my transition coin from fiat to crypto so I guess it's always pretty useful to me at every point in time. What's an alternative to it? Just in case. I don't like moving money directly from fiat to Bitcoin, I'd lose track of my investment.
I don't mind the flags, I just thought you had like a counter-argument, sure you hold tether that's fine but you have to admit these allegations are concerning like you said not just for you as a tether holder but every business using USDT to settle transactions and all crypto
If it comes out its unbacked, how much of its reserves can be liquidated to back up its claims, 60 billion USD is a lot of money.
I am prepared for it, so if it does happen I won't be too hurt by it
Lol getting a flag on this one, nice!
The stable coins are such a load of shit. If I wanted a digital dollar I could look at my bank account, not some joke of a coin! I didn’t know they were split across so many chains, that’s insane. It’s definitely really sketchy but perhaps it’s going to be used as a false flag to regulate the fuck out of the crypto market? I wouldn’t put it past them! It might need some guidelines but regulations are a pain and end up causing more annoyance in my opinion. There are lots of things going on in the world that are really sketchy, this one here seems to be another one.
LOL I’m siding with you stable coins are such a Trojan horse to me it’s only there for dollar junkie traders and as a way to regulate or bring down the crypto market since that 60 billion in USDT could have been in BTC right now
I don’t buy the narrative oh citizens in other countries need dollars what a load of shit! If we wanted dollars we could get them at the bank or black markets in just about any country yeah it’s slimey sometimes but I can get dollars in PayPal too
They say it’s better for remittance why? Bitcoin is instant and improves in purchasing power how is that not superior?
But I’m just a close minded maxi what do I know?
Yeah I think it’s people who are just trying to adapt the mainstream mindset to the future of decentralized money. They will be able to do that for a bit but decentralization will improve and they won’t have any additional need for shit coins like USDT, I think. They will stick around though as a way for people to get conned into the system which is annoying. Whoever down voted you looks like they are part of that con lol
Lol we all have our own path to walk I came into Bitcoin and then went down my shitcoin path now I’m back at Bitcoin! We will all buy Bitcoin at the price we deserve the thing is shitcoiners will be the last to get in because they believe so hard their centrally controlled coin is better it’s jusy fiat with a Blockchain you not fooling me
Yeah that’s true. I know everyone is looking for a diamond in the rough to moon with. It’s good but rare, I’ll throw a few dollars at some but I’ll keep getting bitcoin. Especially if the update comes in November to the network that reduces fees.
I used to do that too, I still have a few positions I need to unwind into BTC soon waiting for some greater fool to take it off my hands! I’ve just become so delusions With Alts as I learn more about them
Why are you still using the mainnet yes taproot will reduce fees but you don’t need to use it!
Stack on lightning or liquid and when you have reasonable amounts secure on the main chain
It also ensures you creating less UTXos so future transfers won’t be expensive
Well that is the issue with most stable coins and I know Tether itself has a lot of issues. I do think there may be a few other stable coins that may be fine but I don't see them doing well when people take money out.
Posted Using LeoFinance Beta
If people take out the stable coin they are meant to be burned so it keeps the 1-1 backed ratio
Excuse me, I think I will be swapping out my Tether, ttyl!
Posted Using LeoFinance Beta
Well don’t take my word for it, plenty of info online! All investments have risk even “stable coins” lol the irony
I'm curious why the govt hasn't buried Tether into a grave and send the entire Crypto market back into the Dark Ages. Or are they waiting for a moment of MCD, Maximum Collateral Damage before they kick out a leg in the 3 legged stool called Tether.
That’s an interesting question well I know the NYAG has been on their ass but they paid the fine but I’m sure as this rages on it could make for a quick death punch! I just think markets are so fragile they don’t want to rock the boat just yet
But who knows? Perhaps like you say they just waiting to rug pull when it’s big enough
Sounds exactly like being put over a barrel. Must grease a few palms of the NYAG every now and then if USDT wants to stay in business. Even JP Morgan gets their hands slapped as a fine becomes a cost of doing business. The NYAG must be seeing this as a cash cow for now until thier Handlers decide to pull the plug.
And ofcourse they benefitting from retail and investor money removed from the trust to pay fines and if it does get taken down only retail gets hurt we the only ones without insurance and protection not like these exchanges holding USDT will be hurt
I don’t know why people think tokenising a dollar makes it any diffent same trickle up economics as always
BUY BITCOIN!!
!LUV
@kerrislravenhill, you were given LUV from @chekohler. About LUV: https://peakd.com/@luvshares http://ipfs.io/ipfs/QmUptF5k64xBvsQ9B6MjZo1dc2JwvXTWjWJAnyMCtWZxqM
I don't hold any USDT at the moment but it's usually my transition coin from fiat to crypto so I guess it's always pretty useful to me at every point in time. What's an alternative to it? Just in case. I don't like moving money directly from fiat to Bitcoin, I'd lose track of my investment.
Posted Using LeoFinance Beta
There are plenty of alternatives like USDC, DAI, BUSD, TUSD, and a bunch of others! I just don’t see the point Satoshis are my stable coin
"I am a Jessie." this morning. Just had my first ever ocular headache (self diagnosed via Google). Very weird! 😁
Posted Using LeoFinance Beta
LOO what would we do without web MD telling us all that's possibly wrong so we can freak out
Lol why can't I talk about USDT?
I don't mind the flags, I just thought you had like a counter-argument, sure you hold tether that's fine but you have to admit these allegations are concerning like you said not just for you as a tether holder but every business using USDT to settle transactions and all crypto
If it comes out its unbacked, how much of its reserves can be liquidated to back up its claims, 60 billion USD is a lot of money.
I am prepared for it, so if it does happen I won't be too hurt by it