I guess the printing and burning of USDT is to keep the exchange rate close to 1? Is that what the organization behind it does?
To quote from the Big Short, is it like a "credit default swap on square?" No, I think I got it, it is like "synthetic CDOs".
You're overthinking it, RedDuke Cryptos financial systems are paid in cryptos To you they are magic internet money, to us, they are valuable crypto digital assets If Bitcoin and Ethereum and Tether goes to $0, won't matter to you or anyone who's not in cryptos Guess what? Bitcoin is worth over $30K and we can use that value on anything we want on the real world. Other cryptos have a lot of worth as well
See, I told you that you still wouldn't understand a simple explanation for a child Pekelo, it's simple, don't compare AAVE platform lending/borrowing to CDO, CDS, MBS That is a fucking lie and if you do not know it then I don't know what to tell you as far as your intelligence and comprehension Over-collateralized loans on DeFi are not the same as leveraged derivatives of traditional finance that blow up the whole financial system and requires a bailout
Oh wow, you're not even in the US and you're trying to turn into politics? Come on man, no gaslighting, I have provided details here, you're just going to throw shit like that Don't you have to deal with China fucking up your country Australia and your country too weak to fight back and bend over and take it up the arse?
Seeming you mentioned China.... Many bitcoin mines in Sichuan were shuttered Sunday after authorities in the southwestern Chinese province ordered a halt to crypto mining, according to a report from the Communist Party-backed newspaper Global Times. More than 90% of China’s bitcoin mining capacity is estimated to be shut down, the paper said.
China crackdown on bitcoin and cryptos is real No China ban fud, anymore Honestly, we in cryptos prefer China mining to be diminished or taken out completely. It's good for decentralization Long term this is very good for Bitcoin https://www.bloomberg.com/news/arti...-100-for-money-laundering-in-crypto-crackdown
Were bitcoin to fall under 30,000 mark, that will create mayhem, that level needs very close watching.