Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by fock on Saturday June 05, 2021 @10:25AM
(#27405305)
imho this observation of you just adds to every "stablecoins are a scam"-post. If there is indeed no significant outflow out of the stable-crypto system, I don't know what's stands in the way of companies to just print money out of thin air in there - which then goes to prop up bitcoin, bringing in real money from the bagholders.
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Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by bob33212 on Saturday June 05, 2021 @02:26PM
(#27407429)
Ironically they are doing exactly what the fed does to avoid bankruptcy, just keep the printing presses going whenever your economy is having trouble. As long as you can print infinite money you can always buy BTC at 25k-40k (Keeping your collateral solvent). You can always attract more USD by increasing the interest rates. It only ends when a regulator or judge steps in and asks them to pause their operations for a week for an investigation to begin.