makeorbrake wrote: » Well, that's debatable also. The suggestion is that btc price will go up!....as some of that $ would find its way into btc....at least initially.
stockshares wrote: » I'm far from an expert on it. I can't see though why anyone would accept USDT in that situation even with the discount mentioned by Bob24.
Dante7 wrote: » FFS, a car. If I still had the BTC I spent on crap and lost in 2013 I could now buy a housing estate.
stockshares wrote: » I'm far from an expert on it.
stockshares wrote: » I can't see though why anyone would accept USDT in that situation even with the discount mentioned by Bob24.
BrandonBay86 wrote: » Could cause a few issues for exchanges / those accepting it alright.
KilOit wrote: » Few wealthy people now with that coin. Got an airdrop of it back in jan 2018, remember looking at the wallet in 2019 and it dropped to. 003 cents per old Aave coin, mental to think if I put €100 in it then it'll be worth 50k now
stockshares wrote: » If its ever confirmed that it's not backed fully by USD then I presume BTC price would collapse.
makeorbrake wrote: » I've been concerned about Tether for over four years now. I thought why the hell can't it just publish recognised 3rd party audits and be done with it. However, we all have to appreciate the history its had in trying to exist (along with many crypto companies). Its had banking withdrawn at various stages - leaving them high and dry. It seems to have become a target as far as various regulatory entities within the US are concerned. So it makes sense that they would keep things tight. It doesn't seem to have done much wrong but of course, its centralised so that means that for crypto its always a risk (and very much goes against the whole ethos). Beyond all that, some folks that seem credible to me in the space are suggesting that its role isn't as significant as it has been in the past and that it won't make any difference if (not if but when..) its taken down. I'd imagine that even if this is true, such an eventuality would cause some short term panic at the very least.
Mellor wrote: » Wasn’t that already confirmed?
cnocbui wrote: » Nonsense: nothing would do more to appease regulatory entities and banks than open and audited disclosure.
cnocbui wrote: » I can't understand why anyone would take Tethers word or deal in it - apart from greed, of course. Idiots, IMO.
makeorbrake wrote: » Their 1:1 backing reduced to 74% once the powers that be froze capital the company had on account with a Panamanian shadow banking outfit (Crypto Capital) in 2019. You mean that by opening up their books, they couldn't do themselves harm when it comes to regulators? I'm not defending them but my suggestion is NOT nonsense. US regulatory reach has a long arm. Just to be clear, I have not suggested anyone ever takes Tether/Bitfinex' word for anything. However, how anyone interprets that ongoing saga is relevant to their own trading situation.
maninasia wrote: » It's a concern. But you can't let it keep you up at night in this game. Right now it's time to make hay while the sun shines. And if tether blows up or not, use cases like defi and platforms like ethereum will still be there. Bitcoin will still be there and other stable coins such as Dai will do juDt fine.
Str8outtaWuhan wrote: » which exchanges listing DGB?
Thargor wrote: » I've been selling a chunk every time ETH hits €1k and buying it back when it drops for the last couple of days and today it added up to 1 free ETH.
deathbomber wrote: » Nightmare for your tax return though, profits will be eaten unless you intend on not declaring of course
Frozen Veg wrote: » What's the appeal with DOT?
Irish_rat wrote: » Well one eth is within the 1270 exemption
deathbomber wrote: » Dot??? It's well on it's way to being the next ethereum, parachain is the future:pac: momentum building. Circulating suppy is more but if eth accelerates, dot will follow. Could be a $500 mark by year end.
Mellor wrote: » ggg Why would his profits be eaten annoy more than if he did it in one trade? ie Buying 5 @900 and selling at 1080 is +900 Buying 5 @900 and micro-trading until you can buy 6 @900 is also +900. And you haven’t actually made any capital gains until you cash out in some form.
Dohnjoe wrote: » Which would put it's market cap at almost 450 bn, or over 3x Eth's current market cap, yeah I'm not so sure. Also, every other coin is the "next Ethereum".
deathbomber wrote: » Possibly, but each event is taxable, regardless when "cashing out", if audited, they will go through them all, can get messy. Obviously if you only have a few transactions, all good, - the more you do, the messier it gets
cnocbui wrote: » Some other countries allow trading accounts where tax only applies to withdrawls from the account. Ireland is not one of them. Every chargeable event is CGT liable, including on-exchange conversions between different coins.
mdmix wrote: » What really concerns me is whether crypto lenders may be over exposed as they generally offer loans in tether. Could this cause a run on Celsius, blockfi or other lenders where customers rush to pull their assets out?
makeorbrake wrote: » This is an issue all of its own. The return with all of these crypto lenders looks very attractive but when you look at the counterparty risk you're taking on, it's a poor relative return. Caitlin Long has been warning about this for a couple of years already. In November, crypto lender Cred filed for bankruptcy. Most likely anyone who had deposited with it won't be getting any of their crypto back. These guys are instituting rehypothecation/fractional reserve lending practices. That makes a mockery of the 21 million BTC hard cap. Furthermore, the practice is likely to leave depositors high and dry as these lenders get caught out as the BTC price moves upwards.
