Comment on Over 2 percent of the US’s electricity generation now goes to bitcoin

• hark@lemmy.world ⁨11⁩ ⁨months⁩ ago

  Do you know that tether is printed and used to buy bitcoin? Because it seems like you don’t.

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  • makeasnek@lemmy.ml ⁨11⁩ ⁨months⁩ ago

    Stablecoins are a house of cards built around stably relating to another house of cards which is the entire inflationary fiat system. Every single asset and currency is speculated on via the open market. Bitcoin is no exception. If it is overvalued or undervalued, that creates market opportunities for people to exploit the difference. The market has decided it’s worth a certain amount today, it will be another amount tomorrow. Not unique to Bitcoin.

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    • TypicalHog@lemm.ee ⁨11⁩ ⁨months⁩ ago

      ??? How is USD being pumped by USDT/USDC? I’m lost, lol.

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• TypicalHog@lemm.ee ⁨11⁩ ⁨months⁩ ago

  People defending Binance and Tether are either:

  • Clueless and haven’t done any research
  • Brainwashed
  • Part of the Binance/Tether cartel
  • Paid to do it
  • Lying to themselves
  • Aware of the truth, but want their bags to continue to be propped up by fraudsters

  Which one are you?

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  • makeasnek@lemmy.ml ⁨11⁩ ⁨months⁩ ago

    IDGAF about Tether, IMO it will collapse one day, and the world will be better for it.

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    • TypicalHog@lemm.ee ⁨11⁩ ⁨months⁩ ago

      I just wish it collapsed sooner. At this point the effect on the whole crypto sector, be it BTC, ETH or ADA will be unimaginable for most people.

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