Quote from: Lucius on May 30, 2022, 10:55:53 AM

Quote from: so98nn on May 27, 2022, 04:12:33 AM

Peeps, seriously everyone needs to pull their thoughts together when it comes to situation like this in the market. After all either market crashes or it goes up and all of us has to do is one god dam thing, you just hodl your crypto tight, either move them to stable coin economy to stop the losses.

You have to take into account that we constantly have an influx of brand new investors who know very little about what is actually going on, and instead of first researching what exactly it is, they invest first hoping for overnight profits. Some will succeed, but most will pay the price for their negligence and haste, although they could have protected their investment by devoting only a little more time to it.

In light of recent events, I would not call stablecoins a safe way to store value, as these are (mostly) fully centralized coins that can be frozen no matter where they are located. Technically, $1000 in your bank account or home safe is safer than $1000 in a stablecoin that can become unstable or frozen overnight.

That 1000 in your home or bank account being safer than 1000 in USDT is something that not many people realized so far. It is the truth, why would I trust a company called Tether, more than I trust my bank? I trust bitcoin and crypto because I know that there is nobody at the top of it, well there are some altcoins right now which do have creators and CEO's but I do not invest into them anyway.

So, when we are talking about something decentralized versus something centralized, I will pick the decentralized one, but here with USDT versus USD, we talk about centralized vs centralized and I would trust my bank way more than I trust tether company, not even close.