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RE: Dear friends and family. Please take a weekend and really investigate block chain investments. You're gonna miss the boat!
Thanks for the comment. I think it's entirely possible that like every bank basically ever that tether took in an asset, gave out certificates for the asset, and then overprinted the certificates and will leave people holding the bag. I don't think that tether at 1.6B is going to be enough to squash crypto valued between 500-830B. besides more competition is coming so 1 failure isn't going to be enough to bring down the whole thing. Or maybe it is and I'm wrong... that's a risk.
I just believe that because so many of the huge volume exchanges, in fact almost all of the biggest, trade only USDT there will be enormous pressure and bottlenecking to fiat exit routes. This might ramp the price of certain pairs up, but drain others without those routes completely. And when people wake up to walls of 80%+ losses they're going to take notice and follow the herd, and all of that is dependent on IF the exchanges can "handle the volume" as they've always claimed. They might just press the big shut it down button like they've chosen to do in the past, after all. The tactics they're employing are certainly slowing the collapse, but I think every day more and more people are wising up and trying to lessen their exposure to the risk, and many are discovering the exchanges simply aren't letting them. Thanks for taking the time to comment on my comment and read it at all, I know wall exchanges aren't the most effective means of communication, but sometimes I feel they are necessary.
I'm always chilling in Discord. Come hang out with 9,000+ other Steemians in there.
@aggroed I read all your post and totally agree with BTS, Steem and EOS being the dreamteam of crypto with magical Dpos systems, created by the brilliant visionary @dan Larimer, and his brilliant devs!
Something I would add to @charitybot thoughts is that after a massive mainstream of crypto that I believe something huge may happen this year, many businesses and people , professionals and any person will start accepting crypto as a means of trusted value, and their will not be a need to change it to fiat. Sure, that many people will want to exchange some or all, but that will be according to it persons judgement.
Hope this thoughts add to this, and as always look forward to your ideas on this.
Regards, @gold84
What exchanges do only trade USDT? I know it can be bought on most exchanges, but from my experience, most trades are paid for with Euros, Bitcoin or Dollars. I'm not sure how the situation is outside Europe, but a lot of exchanges offer easy fiat exit routes for european customers, with minimal fees and decent transaction times.
Hey mate, Binance has USDT.
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