Every Crypto Investor must read this..

LJ Junior

LJ Junior

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Do you guys have any idea about Tether scam? $USDT will soon burst, its defenetely not backed by real $ and in few months it might make whole Crypto market vulnerable. Don't be surprised to see 90-95% correction.

Maybe your $1 in Crypto will be $0.05 in coming months. Tech is good but there is fake money moving around. Consider not investmenting more than 10% of your savings, right now.

I'm totally out of it from 2 months and will be back after this shit gets resolved. I'm a fan boy for some of these Blockchain projects.

I won't be available to reply on this thread. Sorry!. But will let you know just before reinventing.

DYOR! Don't follow Twitter University.

"Patience"

-LJ
 
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I have to go.. Cya soon!! Stay well.
 
organicpanel said:
Dollar is vulnerable too. What is backing it? Everyone is aware of USDT not being fully backed but what backs the dollar? Printing machines?
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Technically it’s backed by the reliability of us citizens continuing to pay taxes as well as the government and military power we provide to others.

But yeah the US dollar is not a good store of value at all.
 
LJ Junior said:
Stable coin is not part of decentralisation's vision.
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Indeed stablecoins like USDC are a great way for crypto, decentralized platforms for staking stablecoins already exist and are a nice way to earn money during the bear market / staking and trading.

USDC is a better variant of USDT.
I agree there will be a correction, but with the dollar falling down it's crypto that will be the next big thing.

I also have 0 holdings in crypto / everything is in stablecoins (without USDT for the very purpose you mentioned).

But,
TheGreyMatter said:
Life is full of risks, but do you know what comes with great risks? Great profits.
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He said it well. Even if it drops 200%, 2024 - 2025 the next bull run and the BTC halving will fix it.
 
usd_shitcoin.jpg
 
Nash Commerce said:
Technically it’s backed by the reliability of us citizens continuing to pay taxes as well as the government and military power we provide to others.

But yeah the US dollar is not a good store of value at all.
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It is indeed for long term. But right now it's funny to keep dollars instead crypto. Dreaming of retiring after 50 years with BOFA saving account earning you 0.5% yearly :D
 
LJ Junior said:
Do you guys have any idea about Tether scam? $USDT will soon burst, its defenetely not backed by real $ and in few months it might make whole Crypto market vulnerable. Don't be surprised to see 90-95% correction.
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Says who?

LJ Junior said:
Stable coin is not part of decentralisation's vision.
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Decentralization doesn't have a vision, it's a process of organisation.

If what you mean is that stablecoins are incongruent with the concept of decentralization, you couldn't be more wrong.

Read up on algorithmic stablecoins/non-collateralised stablecoins. They're the only thing I see as potentially being as impactful as Bitcoin, in a serious sense, not just parroting "this is the next Bitcoin".

The potential for fully decentralized stablecoins that aren't managed by a single entity and that aren't controlled by traditional financial operators in any way could completely change the world - hence the very very hard push for CDBC's in the last few years. It's by far the biggest threat to traditional economies because it would allow us to enjoy the benefits of Bitcoin, but with something that was non-volatile.

You actually can't get something that's more in-line with decentralization than this. Also as a side note, even crypto-collateralised stablecoins are still really decentralized (like DAI). Tether, USDC etc are cash grabs and bandaids to temporarily solve the problem. They aren't the only stablecoins.

alus1onZ said:
Tether going to $0 and China banning crypto are one of the most common FUDs being used since years :D
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Beat me to it.
 
Nothing will happen to tether. If Tether goes down, so will the other stable coins
 
This repeat every year like china ban bitcoin
 
We heard this for a long time this is just another FUD like China ban one coming from years. I wish it would happen like %95 down as you said, so I would be Bitcoin rich before the next bull run.
 
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