Tether is the big unknown. If there’s not enough money backing each Tether and a downward spiral starts it could be hard to pull out. If this happens we might go below 5k even. If Tether proves to be legit then we’re going to 20k soon!
Tether is the big unknown. If there’s not enough money backing each Tether and a downward spiral starts it could be hard to pull out. If this happens we might go below 5k even. If Tether proves to be legit then we’re going to 20k soon!
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.