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Ok buying BTC, ETH or both. What should my allocation be?
back in 1993, I registered the name crypto.com, which I've used as my personal domain as well as to host a variety of cryptography technology and policy resources....Somehow, the word "crypto" has recently acquired an alternative new meaning, as a somewhat unfortunate shorthand for digital currencies such as Bitcoin....I don't think conflating cryptography and digital currency will serve either field well in the long run, particularly as to how they're perceived by the public and policymakers. Surprisingly few of the important aspects of digital currency are directly related to its cryptographic components....Last month [June, 2018], I reached an agreement to sell the domain. I have no idea what the new owner plans to use it for beyond what I read in the trade press
this tether stuff is scary to me. if it comes out as the smoke and mirrors thing everyone says it may be then the entire crypto industry may just collapse to crap. not forever, but there's a solid -75% bear case there.
Quote from: steve dave on November 20, 2021, 12:34:52 PMthis tether stuff is scary to me. if it comes out as the smoke and mirrors thing everyone says it may be then the entire crypto industry may just collapse to crap. not forever, but there's a solid -75% bear case there.Tether stuff???!?
Quote from: Spracne on November 20, 2021, 02:12:59 PMQuote from: steve dave on November 20, 2021, 12:34:52 PMthis tether stuff is scary to me. if it comes out as the smoke and mirrors thing everyone says it may be then the entire crypto industry may just collapse to crap. not forever, but there's a solid -75% bear case there.Tether stuff???!?tether/usdt is what everyone uses to trade into and out of other coins. if you hear "stablecoin" that's what it is. it's like the currency of the crypto world. usdc is another one but it has much less volume. it's supposed to have exactly $1 in value at all times and be backed by an actual dollar for every usdt ever created. like when we were on the gold standard and all money had to be backed with physical gold and you could trade it for gold at any time. it has a market cap of like $75b so that's a lot of dollars that are supposed to be out there. but, like, the people behind it are very secretive about it and even combative when approached to prove they have a dollar backing all of it. a lot of people think it's smoke and mirrors and they don't have any actual dollars (or at least a lot less than they claim) backing the stuff. so say this becomes known it's going to immediately become worth way less than $1. theoretically it wouldn't have any impact on BTC or others but the reality is that bank run will probably snowball into all crypto. I am probably not explaining all of this correctly but it's my understanding of it based off just a couple investing guy podcasts I have listened to.
Quote from: Spracne on November 20, 2021, 02:12:59 PMQuote from: steve dave on November 20, 2021, 12:34:52 PMthis tether stuff is scary to me. if it comes out as the smoke and mirrors thing everyone says it may be then the entire crypto industry may just collapse to crap. not forever, but there's a solid -75% bear case there.Tether stuff???!?tether/usdt is what everyone uses to trade into and out of other coins. if you hear "stablecoin" that's what it is. it's like the currency of the crypto world. usdc is another one but it has much less volume. it's supposed to have exactly $1 in value at all times and be backed by an actual dollar for every usdt ever created. like when we were on the gold standard and all money had to be backed with physical gold and you could trade it for gold at any time. it has a market cap of like $75b so that's a lot of dollars that are supposed to be out there. but, like, the people behind it are very secretive about it and even combative when approached to prove they have a dollar backing all of it. a lot of people think it's smoke and mirrors and they don't have any actual dollars (or at least a lot less than they claim) backing the stuff. so say this becomes known it's going to immediately become worth WAY less than $1 and there's going to be a massive bank run to get out of it. I am probably not explaining all of this correctly but it's my understanding of it based off just a couple investing guy podcasts I have listened to.
Does anyone trade stable coin other than to get high interest rates on stuff like BlockFi?