The hilarious thing is that there's going to be a day where one of these is red and all the rest are green, and it's going to be the worst day for cryptocurrency ever.https://twitter.com/ynakamura56/status/960709372081930245 …
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I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.
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Patrick McKenzie Retweeted Yuji Nakamura
The hilarious thing is that there's going to be a day where one of these is red and all the rest are green, and it's going to be the worst day for cryptocurrency ever.https://twitter.com/ynakamura56/status/960709372081930245 …
Patrick McKenzie added,
I don't see a world where Tether collapses and it doesn't affect any other crypto? Rush out might create small gains, but I believe all will be down that day heavily.
But the prices are effectively tether-denominated, so if reedeemability of tethers is estimated at 10% then to a first approximation you should be willing to spend 10X your true estimate of e.g. Bitcoin’s value to exfiltrate to BTC.
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