Unusual market cap drainage at Paolo's house. FTX turmoil seemed to have an impact on a 'stable' coin.
It is actually supposed to fluctuate, depending on demand. When dollar is leaving the system, the market cap goes down.
Nah, that has nothing to do with 'dollars leaving the system'. It is more related to a drop in the demand to buy other coins.
Very useful at first. A great tool for to the shadow economy. Tho, it's fame is becoming it's own doom, ironically. More regulations since it's more popular. Shadow ain't gonna like that. And the remaining flow from dumb money, will that be enough to keep it alive ?
@Daivid Donner No I don’t agree that all crypto are ponzi schemes. It is a risky investment but definitely not a ponzi.
Audit, keeps getting pushed back.. https://www.thestreet.com/crypto/news/tether-delays-timeline-for-full-financial-audit
For a ponzi to work you have to have an investment with no value or an inflated value and pay the old investors with money from new investors. Sounds a bit like crypto. In order for you to make money there has to be a investor who is willing to pay more than you did.