/biz/ - Business & Finance

Hey anon, just wait a little bit and hear me out.
I know you are a no-coiner and are seething that you didn't make it in time for this bull run.
But the situation is not as bad as you might think, we all were there (I wasn't).
Your feeling of resentment towards crypto is totally sane and explainable.
You see people earning money left and right, while you got the short end of the stick.
Tomorrow or any day of the week when you head to work, you will remember all the anons that will
never work a single day in their life. As you view your wagie-cagie you cannot but internally cry.
This internal pain fills you with agonizing hatred towards the people with good gains.
So you decide to lash out on the only platform where you actually have some sort of control over
your opinion (maybe not). What you just said maybe makes sense in your head,
but to us, be it an oldfag or not, your opinion is laughable and in actuality pretty retarded.
So in this self-induced psychosis, you indulge yourself, looking maniacally at the charts
and posting screens of virtual currency that you don't even own. If this is not insanity
I don't know what else it can be. You had one chance to buy low and even that you
could not accomplish in your worthless life. You let a chance of literal free money
pass in front of you, some people are indeed meant to be poor. This is how life is,
for someone to win, someone else needs to lose, if we all win, no one wins at all.
The reason I'm telling you this is not because of disdain for you or your sub 80 IQ.
No, not at all, I'm telling you this because I truly consider you a friend and apart
of our investment community that is located on this Vietnamese fishing forum.
You still have a chance, the bottom is still going to appear and you will,
like everyone else here, for once in your pathetic life win at something by doing
absolutely nothing. Cheers anon, keep your head up, and remember, we are all in this together.

Tether
Worries that one stablecoin, which only represents 3% of Bitcoin’s market cap, could hurt Bitcoin by going bust is absurd.

Correlation isn’t causation. Just because Tether issuance went up while Bitcoin went up doesn’t mean it caused it. USDC, another popular stablecoin had the same correlation, which is entirely intuitive as folks are wiring in money to take advantage of arbitrage opportunities. Why are the FUDsters worried about USDC?

When XRP plummeted per SEC news, Bitcoin wasn’t affected. When Bitconnect was busted, Bitcoin didn’t skip a beat. Simply put, Tether is a risk for those who hold it. You are not subject to those risks if you hold Bitcoin.

Nic Carter had Dan Matuszewski, the former Circle OTC trader who himself traded billions in USD into Tether, on his podcast to dispel some of these myths.

50 mins in they talk about it
https://open.spotify.com/episode/4p0TREhRen8c3LsYvJFRmN?si=0yYbK4qbTl2PIvJBfJt0Vw

If there was a circumstance where Tether issuance was completely fabricated (which it isn’t) that would be fantastic for Bitcoin as people would sell Tether and dump other stablecoins for Bitcoin.

Back in 2013/2014 there was the “Willybot” FUD that the price of Bitcoin had been “manipulated upwards” solely by a bot on Mt.Gox. Totally unsubstantiated but of the same flavor of FUD.

Conclusion
What all of this FUD represents is the magnitude change Bitcoin brings. Any new technology evokes FUD, which is proportional to the impact it will have on the world.

When the bicycle debuted in 1800s, it was blamed for all sorts of problems—from turning people insane to destroying women’s morals. In the future, we’ll look at these objections as we do now with bicycle objections: with laughter.