Let me know if it survives what's coming? Look at it right now. Lockdown unemployment hyperinflation market uncertainty. Tell me what a shitcoin does. Let's suggest it gets even worse.
Shitcoin would collapse quickest. It won't replace currency in a bigger collapse because it has no value. Currency buys shitcoin. If the market collapsed shitcoin collapses quicker then any currency. It is volatile with no asset backing except an exchange propping its price where even the hint of market uncertainty sees shitcoin barrel.
Old article but I think this holds true and even more so with what we’re seeing going on in the market surrounding GameStop and other heavily shorted stocks. There was a huge crypto sell off to help bolster liquidity requirements for the new rules that the SEC has been rolling out on short position reporting. It’s all pretty messed up.
I look at tether like they do with silver. Print digital certificates claiming to be a dollar then buy the bitcoin with it that has money backing it . Inflate price with draw when its up and since no real money was actually in it they flash crash with vertial movements. I am saying a theory of mine. I dont know all the background of it all. But seems plausible since its just another finance and people are evil.
Shitcoin is still a gimmick.
Let me know if it survives what's coming? Look at it right now. Lockdown unemployment hyperinflation market uncertainty. Tell me what a shitcoin does. Let's suggest it gets even worse.
Shitcoin would collapse quickest. It won't replace currency in a bigger collapse because it has no value. Currency buys shitcoin. If the market collapsed shitcoin collapses quicker then any currency. It is volatile with no asset backing except an exchange propping its price where even the hint of market uncertainty sees shitcoin barrel.
Old article but I think this holds true and even more so with what we’re seeing going on in the market surrounding GameStop and other heavily shorted stocks. There was a huge crypto sell off to help bolster liquidity requirements for the new rules that the SEC has been rolling out on short position reporting. It’s all pretty messed up.
I look at tether like they do with silver. Print digital certificates claiming to be a dollar then buy the bitcoin with it that has money backing it . Inflate price with draw when its up and since no real money was actually in it they flash crash with vertial movements. I am saying a theory of mine. I dont know all the background of it all. But seems plausible since its just another finance and people are evil.