Stable coins aren't so "stable" today, you guys ok?

Cypherpunk Zero #4027

Regular Member

Aug 28, 2022

230

103

• Mar 11, 2023

• #1

I don't know if you guys heard, but Sillcon Valley Bank just died. With it, a lot of USD are frozen.

https://twitter.com/x/status/1634391708837330945

Because of this, stable coins don't have access to the locked 1 to 1 real dollars. This causes some real problems. As you can see, most stable coins lost value:
https://www.coingecko.com/en/categories/stablecoins
What's your plan? Do you own many stable coins? Are you selling? Are you waiting for a bailout?

This is all sorts of fucked

 

PURSUIT MEDIA

Elite Member

Premium Member

Dec 27, 2019

3,133

823

• Mar 11, 2023

• #2

There is no cause for alarm, we move and crypto lives on

 

cct

Banned - Multiple Rules Violations

Nov 20, 2022

78

120

• Mar 11, 2023

• #3

Just wait it will be back to normal .

 

HustleTong

Elite Member

Jr. VIP

May 30, 2019

13,475

10,665

• Mar 11, 2023

• #4

Stay in Fiat
I'm not optimistic about USDT either

 

LiquidLeads

Supreme Member

Aug 3, 2016

1,352

803

• Mar 11, 2023

• #5

sir im not well today I feel not stable..

too much booze?

 

P

paisawaisa

Elite Member

Mar 23, 2022

3,973

1,080

• Mar 12, 2023

• #6

I convert sometimes to USDT for transfers but I am not holding much of it so it will not impact me.

 

JasonS

Elite Member

Sep 15, 2012

6,007

2,880

• Mar 12, 2023

• #7

I'm all in crypto, holding only 5% in usdt. So, it doesn't matter to me at all.

 

A

achiever2011

Elite Member

Jr. VIP

Apr 10, 2020

3,303

866

• Mar 12, 2023

• #8

This can cause a big dump in the market. I will keep some funds ready for buying btc at lowered prices.

 

Kid Coma

Newbie

Mar 12, 2023

6

5

• Mar 12, 2023

• #9

i only hold BTC and ETH so this means nothing to me. Wishing well to anyone who’s had it rough tho.

 

V

Elite Member

Jr. Executive VIP

Jr. VIP

May 18, 2012

7,697

7,517

• Mar 12, 2023

• #10

I don't have any USDT in my account either, but still, people will panic. Let's see how it pans out. I hope it doesn't bring down BTC much.

 

DerangedWolf

Elite Member

Jr. VIP

Apr 30, 2018

1,923

1,512

• Mar 12, 2023

• #11

Crypto lost its actual long-term traction in 2021. I look for the big picture and waiting for it to recover from there with a bull run.

 

E

EarnVoice

Regular Member

Jun 5, 2020

388

228

• Mar 12, 2023

• #12

USDT is king, love live the king.

 

T

TNT_123

BANNED

Feb 9, 2023

118

23

• Mar 12, 2023

• #13

All crypto are for the underground businesses. After the deal is done, let withdraw real money (for ex: usd, euro).

 

MgicalaEarner

Elite Member

Jul 8, 2017

3,749

4,861

• Mar 12, 2023

• #14

I don't understand why the hell people risk their money in crypto , crypto is a pure gambling.

 

SavvyMoney

Registered Member

Dec 9, 2020

57

33

• Mar 12, 2023

• #15

MgicalaEarner said:

I don't understand why the hell people risk their money in crypto , crypto is a pure gambling.

Click to expand...

easy money

 

MgicalaEarner

Elite Member

Jul 8, 2017

3,749

4,861

• Mar 12, 2023

• #16

SavvyMoney said:

easy money

Click to expand...

Easy money always comes with big risk.

 

N1ckG2

Elite Member

Dec 17, 2011

2,670

1,321

• Mar 12, 2023

• #17

SavvyMoney said:

easy money

Click to expand...

You forgot to add a word - loss

 

Nikolaos

Elite Member

Jr. VIP

May 27, 2016

11,517

2,630

• Mar 14, 2023

• #18

Cypherpunk Zero #4027 said:

I don't know if you guys heard, but Sillcon Valley Bank just died. With it, a lot of USD are frozen.

https://twitter.com/x/status/1634391708837330945

Because of this, stable coins don't have access to the locked 1 to 1 real dollars. This causes some real problems. As you can see, most stable coins lost value:
https://www.coingecko.com/en/categories/stablecoins
What's your plan? Do you own many stable coins? Are you selling? Are you waiting for a bailout?

This is all sorts of fucked

Click to expand...

I've been owning some BUSD seems the most "stable" stablecoin from all that shitty garbage out there.

 

xReminisce

Elite Member

Dec 29, 2012

7,338

36,669

• Mar 14, 2023

• #19

Cypherpunk Zero #4027 said:

I don't know if you guys heard, but Sillcon Valley Bank just died. With it, a lot of USD are frozen.

https://twitter.com/x/status/1634391708837330945

Because of this, stable coins don't have access to the locked 1 to 1 real dollars. This causes some real problems. As you can see, most stable coins lost value:
https://www.coingecko.com/en/categories/stablecoins
What's your plan? Do you own many stable coins? Are you selling? Are you waiting for a bailout?

This is all sorts of fucked

Click to expand...

me ok
moved most of my stables back into fiat for the time being
then again, banks can fall to

 

N1ckG2

Elite Member

Dec 17, 2011

2,670

1,321

• Mar 14, 2023

• #20

Nikolaos said:

I've been owning some BUSD seems the most "stable" stablecoin from all that shitty garbage out there.

Click to expand...

This is actually double damage. You store your money on a crypto exchange and you use their 'stable' coin.