Hacker News new | past | comments | ask | show | jobs | submit login

Well, this article is an improvement in that it has a testable prediction. When BTC falls below ~19k, for an extended period, Tether should collapse, according to the article.



These people were making predictions like this in 2017 when btc was at 20k. It crashed brutally for a long time, and nothing happened to Tether. I see no reason whatsoever to think that this time is different. This article relies on the same specious arguments as all the others. The simple fact of the matter is that you cannot maintain a peg in liquid markets for a ponzi asset for any appreciable period of time. Tether trades in liquid markets on many exchanges, and there is no way to fake that.

It is possible that Tether is a ponzi, but if it is, it's at least mostly backed. It's certainly true that the company is shady, and probably doing riskier things with the capital than it should be, but the idea that Tether is a complete ponzi that's been used to inflate the entire market is just demonstrably false.


The article also said that BTC has already dropped into the dead zone just one year ago during the pandemic crash. Tether is still alive and BTC is worth 10 times more.

I don't know how reliable of a prediction this could be.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: