No it isn't a Good Day for Bitcoin.
Like FTT, If tether do get de-pegged the market would bleed and many shitcoin would go to oblivion and liquidity Would be highly affected .
But the fall would be temporary and other coin would fight for the free cake.
Any coin that isn't Bitcoin is an altcoin, So it's Bitcoin and others.
Topic: What is the impact on bitcoin of tether unpegging from the dollar, if any? - page 2. (Read 203 times)
December 29, 2024, 06:00:27 AM
December 29, 2024, 05:55:26 AM
Could tether be considered an altcoin? Or are stablecoins considered to be in their own category?
It's considered an altcoin because any coin created after Bitcoin is simply an alternative to Bitcoin.The headline is quite alarming, especially with some major exchanges already delisting them for failing to meet regulatory requirements. However, I think this opens up an opportunity for other stablecoins to take over the spot fo Tether and dominate the market - if they can comply.
But if none of them manage to comply, we might go back to the basics, where altcoins are paired with Bitcoin. This could lead to more volatility for Bitcoin, but that’s nothing new. What really matters is focusing on Bitcoin's long-term potential and its continued growth.
December 29, 2024, 05:14:44 AM
Tether appears to have depegged from the US dollar since about December 12 this month.
I don't think tether is in danger of collapsing anytime soon, but being delisted from European exchanges
could be quite detrimental to the altcoin market, and would create short term volatility for bitcoin.
https://coinmarketcap.com/currencies/tether/
Could tether be considered an altcoin? Or are stablecoins considered to be in their own category?
I believe tether is used primarily for defi, trading in and out of shitcoins, memecoins, NFTs, etc.
I never touched tether because there has always been a huge question mark about the quantity of real assets backing it.
To this day tether has not undergone any bona fide audit of its finances. Why is that? What are they trying to hide?
It doesn't help one's confidence in tether that it's headquarters are in the Bahamas.
Tether doesn't benefit bitcoin in anyway, so if it collapses I say good riddance.
As a bonus it would likely take the entire shitcoin casino down with it, a good day for bitcoin.
I don't think tether is in danger of collapsing anytime soon, but being delisted from European exchanges
could be quite detrimental to the altcoin market, and would create short term volatility for bitcoin.
https://coinmarketcap.com/currencies/tether/
Could tether be considered an altcoin? Or are stablecoins considered to be in their own category?
I believe tether is used primarily for defi, trading in and out of shitcoins, memecoins, NFTs, etc.
I never touched tether because there has always been a huge question mark about the quantity of real assets backing it.
To this day tether has not undergone any bona fide audit of its finances. Why is that? What are they trying to hide?
It doesn't help one's confidence in tether that it's headquarters are in the Bahamas.
Tether doesn't benefit bitcoin in anyway, so if it collapses I say good riddance.
As a bonus it would likely take the entire shitcoin casino down with it, a good day for bitcoin.
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