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RE: My prediction on Bitcoin
I'd hazard a guess to say there isn't enough real USD behind Tether, but their isn't enough gold or government behind the real USD so which is worse.
I also think the parabolic rise we keep seeing will have the next major pump hit about $18.4K
I think it only takes one significant failure and we could be in real trouble. In my book it could be Tether/Bitfinex (worth atleast $761 million) or BitConnect (worth $891 million) if they go down then it will smash sentiment badly. It is possible that the first actually causes the 2nd to go down like a domino.
Thats the things, there's going to be a failure, somewhere with something. Crypto's fail every week, just none of the big ones yet.
I would almost put money on Bitconnect disappearing very rapidly. It just screams scam.
Tether I think will stay around, people don't hold it to gain value, it should be seen as low risk. I like it as its cheaper and quicker to trade with than BTC, and its cleaner on my spreadsheets in terms of fiat value.
I do agree and have used Tether quite a lot. But Tethers recent hack and drama plus the Steem Dollars going through the roof soon after has me a bit spooked. If done properly Tether is a great concept and immensely valuable to the alt-coin trading ecosystem but the current implementation of Tether looks shadier every time I look at it.
All money is essentially worthless even gold isn’t exactly a necessity. The USD is based on the U.S. government staying solvent, and at the minute btc is based on a few rocky corporation like entities. Hopefully everything will get worked out before a crash.