Quote from: hatshepsut93 on October 17, 2018, 10:20:35 AM

Quote from: buwaytress on October 16, 2018, 06:54:30 AM

Exactly why people should rethink this drivel about stablecoins. If this is all it took to cause the peg to collapse, imagine what would happen if a similar event with even twice the magnitude happened, and across all Tether holding exchanges.

For all the volatility of Bitcoin, this is something foreseen many times for Tether and its ilk.

All stablecoins are inherently centralized, so what's the point of having centralized cryptocurrency in the first place? Yeah, people can conduct transactions without intermediaries, no one can seize their coins and so on, but still there is a huge central point of failure that can result in massive loss of value. It sounds paradoxical, but stability comes with the risk.

For people who don't care and have no interest in decentralization and are only in the market for a profit. The banking industry has also few points of failure and it resulted as you describe a massive lost (crash 1919-2008, money devalued in countries,...) It's not a problem for the people I was referring to, at least they will still own a digital currency