Bitcoin 34000 US$ as of today!

[Martin Everson]

I said the below about⁠ USDC ns2.

https://www.offshorecorptalk.com/threads/why-is-tether-considered-a-stable-coin.28000/post-119120

 

[Martin Everson]

It did didnt‌ it. 24hrs later.....

 

[JackAlabama]

Aaaand a hammer drop of 20%.
up again 3k since then lol.

speculators paradise

 

[Martin Everson]

Great for the volatility traders also. I can't see how insiders are not making a‌ killing financially 😉. Someone needs to look into the operation of these crypto exchanges and‍ their collaborative manipulation that will make banking forex manipulations scandals pale in comparison ns2

 

[nomad999]

BTFD ! smi(&%

 

[Silvio]

Don't forget the biggest scammers of all, making a killing pumping⁤ BTC using made up coins they print themselves - TETHER

Edit: I see now you⁣ did mention it's a scam 😀

 

[Martin Everson]

Exactly but people don't‍ care. They only see the value of their BTC going up in the short term⁠ as the pump and dump plays out.

 

[Silvio]

Yep, totally. At this point they should change the name from "ponzi scam"‍ to "satoshi scam".

I just think how hilarious it would be if BTC would crash⁠ now after all the momentum-followers fad-chasing funds and companies invested so much in it ...⁤

 

[burden]

That's not‌ Tether if I'm not wrong?

Can I ask you, do you Trust USDC (USD Coin)‍ or Tether or none?

 

[JackAlabama]

having a view at these orderbooks and youre set.
usdc as it is conbase regulated and hence less prone⁠ to attacks by the borg.
the stable coins (except dai) are centralized projects and hence⁤ easy to be shut down by the borg. (dai has of course programming issues which⁣ could arise)

 

[burden]

okay, so coinbase USDC can be trusted because they are regulated and for that reason‌ we don't need to worry that much as if it was Tether which can shut‍ down any time because no one cares and there is no control

 

[Silvio]

Kinda funny how essentially you can trust this coin only because it's REGULATED.⁠ And I thought cryptocurrency are supposed to be trustless ...

 

[nomad999]

https://www.circle.com/blog/circle-...nefits-of-stablecoins-to-businesses-worldwideI think we can say USDC is safe at this point.

 

[Martin Everson]

Did you read‌ the link I posted? I said:

"Seems a more credible stablecoin provider than Tether"

Neither

 

[Martin Everson]

I don't know how long this current iteration of the mania will last but it‌ won't be a happy ending sadly. There is a thing called government that loves to‍ pull the plug on the illegal raves sound system and end the party.

 

[JackAlabama]

There is‍ a difference in them and some work differently than others. If you run an ico⁠ coin and put your face out, you also better play their game or be ready⁤ to run fast.
It depends how such a project is being started.

 

[JackAlabama]

Given said stories are true, there are now people who suddenly⁤ increased their wealth xfold and have now massively deep pockets for brrr ehm lobby work.⁣

However, my crystal ball says they want a ring fencing and basically push the traditional⁢ pain in the butt banking upon this ecosystem with their scam kyc and aml bs.︀

 

[nomad999]

"Nothing is more powerful than an idea whose time has come"
Victor Hugo

 

[JackAlabama]

Lets assume that gov loses the power to print money and bribe‍ the lower class with pennies while enriching their cronies with money printing.
A thought worth⁠ pondering.

 

[nomad999]

if you‍ own 1 usdc token on the ethereum blockchain, the value of that token is derived⁠ from the bank reserved of the issuer of the token who is saying 1 usdc⁤ is backed by 1 us dollar.
this is not the same thing as a cryptocurrency⁣ like bitcoin, trustless as in you don't have to trust anyone but the code that⁢ is being protected by a bazillion of dedicated computer hardware.