Senate sent a request to all stable coin issuers

Discussion in 'Crypto Assets' started by Pekelo, Nov 24, 2021.

  1. Pekelo


    Nobert likes this.
  2. Nobert


    Tether founders have around $100 in cash. The rest is AAA+ loans.
    nooby_mcnoob likes this.
  3. maxinger


    It seems like the mother-of-all Tulip Mania is coming.
    I am sure the mother-of-all hackers are working very hard trying to
    steal trillions of dollars and they are waiting for the right moment to strike.

    Hackers, crypto investors, traders .... all wanted to earn tons of money.

    China and India will not be affected as they have already banned cryptos.
    Last edited: Nov 24, 2021
    Edmond and qlai like this.
  4. You all fooling yourself. This is what does it? After 13 years and 150%/yr ... its stable coins (read money market funds) that is going to take down bitcoin?

    Ill give ya Tether is a bit shady and potentially problematic. Could that cause a large drawdown? Absolutely. Is that what is going to bring down bitcoin? Keep dreaming.

    Regulatory clarity around stablecoins is net good long term. More money in the ecosystem eventually finds its way to BTC.
    johnarb likes this.
  5. qlai


    What do you mean by “bring down?” If it just stops going up, it will simply be (mostly) irrelevant. Is your premise that BTC is going to infinity because everyone must transfer all their assets into it? Give me a reasonable map for it’s future please.
  6. RedDuke


    And this would be the time for people like me, who mostly missed this boat, to get in.
  7. Well comments like “the mother of all tulip blah blah” implies that bitcoin goes down dramatically and doesn’t come back. After all that’s what happened to tulips.

    I don’t think it does to infinity. I’m not one of those people that will never sell their bitcoin, but I think it goes up a lot still. Just getting to gold market cap gets you to 500k/coin, and I think (opinion obviously) this is way better as a non sovereign, uncorrelayed store of value than gold is. Basically it’s way better at doing gold stuff that gold.

    Now where does it go from say the 500k- 800k area, I don’t know. The use case of a medium of exchange … I’m still pretty skeptical. Vol would def need to come (which some people can’t get over even at these levels). Time will tell but I currently don’t see a medium of exchange/ unit of account use case

    as always I keep my one open and could be wrong.

    I was initially a bitcoin hater. Keeping an open mind and finally investing in 2019 has been a 1MM+ decision. Open mind pays

    how’s that for a road map? Certainly you disagree with most of this, would love to hear about it.
    yc47ib, NoahA and johnarb like this.
  8. qlai


    I can’t disagree with you on you making money! Good for you. I disagree about it being better than gold because BTC hasn’t proven itself as a hedge yet. I am just trying to understand why it’s needed once it’s regulated.
    Nobert likes this.
  9. Fair enough. I also don’t think it’s proven itself to be any kind of hedge either to be honest. It is uncorrelated tho (except in panics when correlations go to 1, but you can also say that about many assets)
  10. johnarb


    Bitcoin will continue going up against fiat currencies, i.e. USD. Forever, imho

    NFA, always hold a core position of bitcoin and have a small trading position for selling when it goes up too fast in the short term

    #10     Nov 24, 2021
    NoahA likes this.