Imagine what happens when all those saved tethers converts to actual dollars if/when a big position exited the market in a short timespan.
1:1 or will we see something never seen before?
Post by twetch#2223
At what point will people simply consider tethers to be "actual dollars".
I mean what is an "actual dollar" any way? Banks create dollars out of thin air using loans which our backed by an opinion about the solvency of the loan... seems similarly trusted.
What the chain says
- Block
- 624 040
- Time
- 2020-02-28T14:12:56Z
- Signer
- 1JM6coFyyc8qFtVR55wyNVECC69uwotQHL
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#2223
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1JM6coFyyc8qFtVR55wyNVECC69uwotQHL VerifiedReplies (1)
USD is not affected by selling pressure (only inflation) & has the biggest tax paying base tied to it.
Tether may have a problem to exchange at a big exit position (increased demand) to USD as selling pressure on backing assets creates a negative spiral.