Hey Pub! Wanted to spark a conversation (and put my first post up). We can all agree that Tether is practicing in fractional reserve lending since a “real” audit hasn’t been done. In return the price of bitcoin is (partially) being held up by this. If this is the case then wouldn’t more stablecoins “backed by fiat” and not a blockchain do the same? Since Tether has gotten away with essentially being a bank with no audit and no recourse, who is to say that other fiat based stablecoins won’t do the same? Are stablecoins going be used to to manipulate the Crypto market? Or have I been smoking on that peace pipe for too long. Your thoughts below! Oh yea… Click Bait hope it worked.
I don’t think tether is affecting the price of bitcoin as much as people think. I Found This study of interest on this topic.
It was cool to meet you this weekend, no broke back. I’m going to Tampa tomorrow morning for CyberCon and I am leaving Thursday night. Stablecoins can be used to manipulate the market. Let me know if you want to meet up tomorrow in the evening sometime 9-12. I can show you some data. I am going to be staying at a hotel near Bush Gardens and some friends are going to come for a crypto meet up. I am trying to get some dancers to use some BTC there in Tampa so maybe they will come too. If not tomorrow night, Thursday after 5 we could meet up for some food and drinks before I go back to Gainesville. Let me know what you want to do. We can discuss here or private message. I will give you my phone number if you still want to meet up brother.
Bitcoin > Stablecoins
Ima have to read this then!! Thanks heavy!
Everyone binds to the hypotheses that the tether team has no money to back every USDT. I was even willing to short USDT following that thought. However, does anyone thinks the contrary, if they applied really well the money and have much more than what it takes to back USDT?