Classic and well timed FUD. Bitcoin is up over 200% from the day this was posted...which was just over a month after the prior peak. Tether is going to be an ongoing risk.....until it isn't. No outsider can know how and when it'll go down and if that's too scary for you to be holding crypto then this space is not for you. Personally I see other USD backed (and regulated) stablecoins making ground, like USDC, BUSD and TUSD so its possible that Tether will fade to more trusted and transparent competitors before it falters.
Exactly. Until we can verify the true extent of Tethers assets and relationship to the price of Bitcoin, it is an unprecedented risk
The guy cited in the article hates BTC, crypto etc etc etc. I see Roubini also gets a gong as well. No one is arguing that crooks don't occupy the crypto space, just as they occupy every other financial space. But seriously it's just FUD mate. Forget the crap and buy crypto. https://bitcoinexchangeguide.com/he...ats-their-beef-with-btc-and-crypto-criticism/ And don't forget to save fiat in order to build your credit rating so that you and your partner can move out of your old's and buy a place of your own. And get a credit card if you don't already have one, and pay rent to your oldies so you can use that as proof of credit worthiness to the banks, yes your oldies will have to declare it as income but they'll be doing you a service. If you don't enter that space where crooks lurk in the shadows then you will find yourself sharing the space with the asset-less crowd.
Don't fall into the FOMO for speculative bets. FOMO for gold and silver is fine because it is real money. Even if you buy at 2011 highs, the price will come back again, only need to wait. Same as property, even if it drops, it will recover, although it can take 10 years or more. At the end of the day, for speculative bets, fundamentals don't matter, that's why I don't bother to research much. What matters is the price shoots up and you sell to the bag holders before it crashes.
If I look like that when I'm "middle aged" then I must have enjoyed my youth way too much to care about assets
Nothing like a healthy dose of FUD to help balance your perspective. I'm sure there were many spectators watching the Titanic sail off into the horizon, wishing they were on board - Gambling is never a problem when you're winning. Do you just ignore the threats relating to tether? You certainly don't have to believe them, but are they invalid and unworthy of consideration?
That's your choice, but it appears tether has an effect on which speculative vessel you wish to persue. DLT fundamentals certainly don't mitigate the risks surrounding Bitcoin speculation.
If you're buying crypto solely due to the implementation of DLT, you're ballsier than I thought. DLT has a future, crypto coins likely don't.
If it is FUD and baseless, why doesn't Tether Ltd come clean? Why are they hiding behind their banks spokesperson who can't even tell a straight story?
I don’t know and don’t care. I invest in crypto because of the fundamentals. Instos use $$ to buy BTC.
