Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 27/05/2022, 02:53:59 UTC
Quote from: AnotherAlt on May 26, 2022, 05:00:45 PM
Quote from: philipma1957 on May 26, 2022, 04:47:03 PM
Quote from: vapourminer on May 26, 2022, 03:30:14 PM
Quote from: AnotherAlt on May 26, 2022, 02:05:32 PM
Did you guys notice that USDT has lost 10 billion on Market Cap Since the LUNA Incident (11-05-2022)?

What Next?

who cares? this is the bitcoin WO thread.

Yeah, but if it fails, BTC will drop 3-5k.

I altered all my USDC and USDT to cash a month ago. Rather have 20-30k in fiat and wait for the next move to make than have 20-30k in stable coins.

I have received some very low gear price offers. So I know there is a lot of scary money as I type this.

I won't say that BTC will drop 3-5K. But, surely it will affect all over the market if USDT Crash. USDT market Dominance Increased from 4% to 6% in the last three months. If a Single shitcoin like Luna Can change the market drastically, A Most Used stable coin can wipe out a lot from the market. I hope it won't happen. But, It's scary when we see Stable coins de-peggs often. USDT was de-pegged a few weeks ago during the chain swap.

You are raising the same bullshit and stupid-ass talking points that have been being raised about Tether since about 2016 and probably even before that. 

That bullshit scam algorithmically pegged stable coin (aka luna/terra/UST/Do Kwon) was likely designed as a purposeful scam.. and has names similar to tether too.. how convenient to confuse some people too... if they had not already been confused...   

I remember some folks asserting that USDT was de-pegged from the USD price because it had wildly fluctuated between $.995 and $1.005.. Holy fucking shit that is crazy as fuck, right?

 Roll Eyes Roll Eyes Roll Eyes

Trying to find a problem and to exaggerate and to make poor comparisons is hardly convincing since USDT has been through quite a bit already - including but not limited to allowing its bank steal around $800 million from it, while the US Govt turns a blind eye at best, and at worse argues that USDT is unstable because they got robbed of $800 million from a known banking entity - with likely ongoing US Govt complicity in allowing for such theft and not even attempting to prosecute... ONLY claiming that USDT was operating without enough backing.. blah blah blah..