around 70 percent of crypto volume is in tethers. Remove this ponzi and then we can see what BTC real price is.
You may get your wish. US Treasury, Fed Chairman and SEC are all making negative comments about Tether and stablecoins, and even the ECB There's a certain irony as they print Trillions upon trillions upon trillions debasing everyone's wealth and savings in fiat
totally agree with you on what these bastards are doing is awefull. But it is done with the might and gdp backing of those countries. Tethers as we all now know is a complete fraud. They went from 1 USDT = 1USD claim, to revealing that they only have 3 measly % of cash backing over 60 billion of tethers printed. The rest are some shady commercial papers. And this shit represent around 70% of daily volume. my biggest mistake was to not believe how far and long this fraud would go on. too much thinking not good sometimes
And Tether blocks Freedom of Information Law requests to keep the truth hidden. https://www.coindesk.com/policy/202...ck-nyag-from-releasing-documents-to-coindesk/
Do you think the US may legalize crypto after all,with all these institutional companies adopting it?
??? it was never illegal, and you can trade it/own it. Just some tokens prohibited in some states. New York is being one of such states, they banned Tether. Also, I think XRP is banned across US by SEC, though not sure if this is still the case.
Maybe one day they will regulate it all, kill theter and switch it with digital central bank issued currencies. Keep taxing it it as most countries are already doing and let it be. This might cause some massive swings, but will it affect crypto existence or its value forever? I wouldn't bet on it. The adaptation is there and soon nations might not want to give up on tax revenues if they become substantial.
This is a very interesting point that I think mirrors the conventional economy quite well. What is the value of money? Nobody really knows because interest rates are essentially zero. That means the prices of everything are in a bubble. This is anything from real estate to tesla shares. If interest rates were at 5%, or heck, even 3%, the value of so many assets would plummet. Likewise, if you remove tether from the equation, who knows what the value of BTC is? It would certainly be better for BTC if the buying was organic, through an exchange of hard earned dollars for BTC. Then perhaps BTC also wouldn't crash so hard when it does. I'm eager to see how it all ends.