Date: February 1st, 2018 12:54 PM Author: galvanic snowy idiot
The interesting thing is that Tether becoming valueless would also have the effect of making it harder for people to sell BTC/ETH without the perceived tax implications of doing so for actual USD on a US exchange.
Date: January 19th, 2018 8:43 PM Author: boyish dilemma
Explain how a Tether blow up will infect substantive alts? Would it bring down the exchanges? Otherwise, all Tethers are worth $0, so anyone holding them is SOL. Am I missing something?
if some of the demand for btc has just been from bitfinex selling valueless tokens then the bottom would fall out from the market if it's exposed as a charade, and it could multiply on itself if there's a run on the exchanges
Date: January 20th, 2018 1:44 AM Author: Wild vermilion step-uncle's house multi-billionaire
Shitcoins are traded/denominated in BTC or ETH, and their prices are propped up by BTC/ETH prices. Many people made so much $$$ (at least on paper) from BTC and ETH, making them comfortable throwing tons of money speculating on shitcoins (which they'd never do if they had to pay in fiat). If BTC and ETH tank massively, those profits fueling the shitcoin speculation vanish.
I personally think the Tether conspiracy theories are overblown, however.