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RE: 🚨🚨🚨 BREAKING NEWS: Tether blows up 🚨🚨🚨 US govt. subpoenas Bitfinex
This comes as no surprise to me. I never even thought of going into Tether. If things sound to good to be true.... I can´t believe, this "80% of BTC is funded by Tether" though. If people now start to distrust Tether, they would go into other cryptocurrencies to get rid of it, right? That´s not what we are seeing...
I don't know.. 80% seems a lot but some calculations show that only a couple billion USD total went into crypto to get it to the market cap it is at now.
Other crypto's don't offer much refuge.. People are used with crypto's being tied to Bitcoin, so when Bitcoin drops people pull out all their crypto at the same time causing a domino effect. There's only a handful coins that are less affected by bitcoin dips and even they are only 'less' affected.. still affected
Well, I was just discussing on another thread the option of bitUSD, but with these low volumes and real trades only happening every 10 minutes or so on the bitShares DEX, it´s no real option for fast decisions :(