umm guys why is usdc repegging backwards
umm guys why is usdc repegging backwards
Falling into your wing while paragliding is called 'gift wrapping' and turns you into a dirt torpedo pic.twitter.com/oQFKsVISkI— Mental Videos (@MentalVids) March 15, 2023
rollin for 0
speculation it will return to normal on Monday.
I think this means the repeg failed Anon. I fell for it too and bought more.
i made 4% profit and sold now because i thought about monday not fixing shit and a chain reaction of bank runs starting
like what if another bank crashes, and it also held usdc usd, that would be the end
Probably not. Any losses here from a crash will be recouped. They’ll blow up the planet before they allow G7 economies to fail. That’s what it will take for USDC to fail.
understand that blowing up the planet is 1) part of the plan and 2) what would cause them to fail.
it's ogre. end is near. good luck frens. riots and raids by the goblin subhumans are coming. trust only your loved ones and the neighbors you have had a dinner with. everyone else will eat you and yourfamily and take your stockpile
I'm trying to save as many people as I can. The confidence in this stablecoin has been erradicated. Nobody will ever put large sums of money into this coin. Once you realize this, you realize that the mere existence of USDC is now pointless. Once you realize this, you understand that USDC fate is exactly the same as LUNA.
Yep. Doesn't even matter if it's backed at this point. Especially with the instability of the banking system.
what you don't understand is that if USTC falls, Coinbase falls and defi goes down the toilet
What I'm trying to say is there is no way it doesn't repeg, there is too much money at stake. Much, much more than what was lost in that shitty bank
>what you don't understand is that if USTC falls, Coinbase falls and defi goes down the toilet
>What I'm trying to say is there is no way it doesn't repeg, there is too much money at stake. Much, much more than what was lost in that shitty bank
I understand that if USDC falls Coinbase falls too but trust me anon, if the Roman empire fell, USDC can fall too. Nothing is too big to fail and money can't just fix anything just like that. Life is not a videogame. USDC will very likely fall, and it will be fast. All stablecoins depend on the confidence of the market, now it has none. Smart money already left. Don't be the greater fool.
>this (in reddit voice)
What does the reddit voice sound like?
Good. Death to CEXes and stablecoins. 🙂
>death to CEX and stable coins
Without those, BTC would be trading in triple-digits right now
Then that is the easiest way to make money ever because you can exchange the shit for dollars 1:1
Tether is the worst of them all as it's not even backed by anything. Which is why they have been left alone and still operate; they don't answer to anyone about the nature of their backing
>still over 90c
I don't care
Glad I sold at 0.96
USDC is under collateralized. While Circle just needs liquidity to return the value of USDC back to $1. I don't know who would want to hold an undercollaterlized stable coin. It's like depositing your money in an insolvant bank.
and USDT is backed by absolutely nothing. Remember the emails from 2018 telling them to pump BTC
>USDT is backed by absolutely nothing.
The billions in redemptions they have paid out prove otherwise.
>billions they have paid out
Source? All the documentation I’ve read involves the supposed funds they have all being tied to the Chinese real estate market (which is a joke as of the past two or so years) so whatever money they may have had should be a fraction of what it once was.
From Tether themselves, but I've also heard it from someone who works at a crypto company who has redeemed tether. You can also I find many people claiming throughout the internet that redepmtions have worked. There aren't people coming out and saying redepmtioss aren't working.
>I’ve read involves the supposed funds they have all being tied to the Chinese real estate market
That was FUD. In 2022 they replaced all of their commercial paper with treasury bills. In that transition they didn't lose money.
They had 7% of their reserves in a troubled place (3B/40B), and it looks like they're gonna get back perhaps half of that over the next several months. And at that point, taking into account that they've been making money from US T Bill interest, and it's been at 0-5% for a year, you're getting close to being able to cover it with interest already accrued. I think it will go to 1 btw, at least in the short term. The Circle CEO also made a statement about how they might use external funds if necessary (if they have 2% accumulated profit, and need 3.5%, their friends at blackrock or wherever could give them a bailout).
Now, the thing is, there may be more bank failures. Banks operate the same way FTX did, ie with fractional reserves. All this BuT mUh FdIc BS we've been hearing a lot of since FTX is simply pro fiat propaganda. The FDIC, ensures up to several hundred thousand dollars for normal peeps, but that's nothing for institutions, and the only "insurance" there is cordial relationship with the fed. Which of course means that commercial banks are nothing but an extension of the fed.
Are we already at the bargaining stage of grief? That's okay, Anon, I'm sure everything will be okay. HODL!
Quite the cohencidence this happened on a friday night and then the weekend when circle is unable to get funds from bank wagies
It is all fine- FED will jump in in case they are MORE banks about to collapse...wait MORE????
More positve signals - they are fighting hard to convince everyone that all is fine...
it'll be ok just hold bros
just le hold