No, I mean the exchange itself could not be safe if we're in the middle of a legal crackdown.
Ah, ok. I'm not in the Discord group and haven't been checking on all crypto news as much lately.
For fun, I was checking how far back my Tether criticism went on Era. Found this one, quoted directly from November 1, 2017, from the first OT here.It could be possible to make a cryptocurrency as a real currency alternative but it needs to have a few properties. Mainly it has to have a stable valuation. All attempts to create a currency that is stabilized based on propping up the price by artificially creating buying demand has failed, as the buying demand is just sold into en masse until it's gone.
You can also create a stable coin by just pretending it's worth what you say it's worth. Some claim Tether works like that.
Most likely a government will just make a nationalized crypto currency, but then the control over it is centralized by the government and the one true benefit of cryptocurrencies is lost.
So while it seems easy to make a crypto currency, it is actually quite a challenge. Being stable and decentralized at the same time is hard.
You can't focus on the day to day volatility, you'll just set yourself up for disaster.
I am legit waiting on this. I thought I timed it well by getting aside but that was in AUGUST last year.. I thought for sure it wouldnt make it out of 2018, and here we are, 3 months from a full year; with them admitting its only 74% backed by dollars, and the damn USDT isnt moving.
Pretty laughable that he even thought they could pull off a reorg in the first place.Nobody posting about the Binance "hack"?
7000 BTC supposedly stolen by "obtaining a large number of user API keys, 2FA codes" -- not sure how that's meant to work exactly considering everything was withdrawn in one transaction. Binance says it's 2% of their total BTC but it looks more like 4-5%. Not that much money for them probably, but still.
Apparently there was a similar incident with also 7000 BTC withdrawn last year that was swept under the rug. Deposits and withdrawals will conveniently remain suspended for a week during the whole Tether bs and there's some weird talk about Binance being in contact with miners to do a rollback or something which would be hilarious but I doubt that's actually an option unless they want Bitcoin to die.
Surprisingly little impact on BTC's price so far though.
Edit: Reorg cancelled, lol.
I haven't bought any more in many months. I was actually shorting this run up but wised up and stopped selling (when I kept getting run-over by this train)... Let's see how high it will go then I might sell some more if I can catch the top. Also would never go net short on Bitcoin, will always keep a hodl stash. But yeah I'm not buying on a parabolic rise, I did that in late 2017 and I didn't like how that ended.