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RE: Why the Tether Scandal is Great for Crypto Investors
Weeding out is indeed a good thing, but the possibility of crypto-wide crash is also to be taken into account, especially if it is discovered that Tether doesn't have the 2 billions and that this non-existent money has been used to manipulate the market as it is now being said.
I would strongly advise you to read this: http://jamescrypto.com/the-difference-between-inflow-and-market-cap-and-how-it-relates-to-tethers/
and this https://www.wired.com/story/why-tethers-collapse-would-be-bad-for-cryptocurrencies/?mbid=social_twitter_onsiteshare
It gives a good overview of why it's not just a sale. No FUD here, but "don't be the one left with the bag". ;-)
Hi sadhiq. The articles you sent make good points. I certainly don't want to be left with the bag. I don't think you are spreading FUD. At the same time, I don't want to be spreading "to the moon!" However, in my opinion (which could be wrong), Bitcoin and the crypto market will recover, eventually. Maybe next week, maybe next year. Look at the Bitcoin charts from 2013 to 2016, it took a long time, but the price came back. Who knows. I believe that most of the projects will eventually fail, but a few current projects and some projects that are not even in existence yet will become huge. Finding which ones is the trick.
Certainly, I'm normally a hodler and believe in the long term vision of blockchains.
I kept some position for now and will resume all positions as soon as the air clears.
I've never had any Tether but it seems that in our beloved market, everything is linked!
Investing in projects you believe in, that have an added value and a team with track record is key. After that it's just how they perform.