If you don’t care about it crashing 95% or more than I guess it’s moot. Although I don’t know why you’d hold something you expected to lose that much of it’s value.
I don't expect it to, and I rarely hold it. When I do hold it the risk is tolerable, as it has weathered much greater crisis of confidence before in a market where most assets have crashed over 90% in value before, while Tether has not.
Knowing the answer doesn't make me a proponent of it.
If you get caught holding the bag that's what happened. Congress won't step in. A stronger variant will emerge. Nobody wants a regulatory sandbox hellbent on nothing ever going wrong, while holding up projects indefinitely because something might go wrong. Get out the market if you can't handle that. In the mean time, regarding Tether, I wish they weren't the dominate stablecoin and I don't feel I need to preface my responses with that just so crypto skeptics will respect what I wrote. I've seen greater fractional systems which I believe are very commonplace in the industries that Congress will step in on. Nobody is confused about Tether's potential to be insolvent in a bankrun or asset forefeiture.
I realise this was just addressing the general "you", but I sold what little I had a couple of years ago for this exact reason.
I've only become more convinced it's a house of cards over time - although each to their own, I fully get that I'm one random on the internet and could be proven utterly wrong on this.
I just really wonder what the price is of any of these things? I don't think anyone knows. For anything else the free market is usually what decides the price, but this information undermines confidence even in that. How much of the money coming in was ever real? 50%? 5%? more? less?
On one hand I get that's why it's so volatile and some people have made a fortune on paper, but there's just so much that could go catastrophically wrong at any moment that I just don't have the stomach for. I also get very weary when people say they intend to keep buying and holding forever - that really is placing an all-or-nothing bet on this.
I get that stocks/real estate/whatever can crash too, but at least you have something of intrinsic value in each of those cases.
In any case this was a good back-and-forth and it was nice to hear a perspective on the other side of this without the non-stop acronyms and emojis on Reddit and Twitter :-)
