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$130 Billion Wiped Off Crypto Markets in 24 Hours
The cryptocurrency market had around $130 billion wiped off its value over the last 24 hours as major digital coins continued their multi-day sell-off. From a report: Bitcoin was last down around 4% at $33,755.57, according to Coin Metrics, while Ether plunged 7% to $2,239.08. Earlier in the morning both fell to their lowest points since July and are each about 50% off their all-tim ... ⌘ Read more
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@prologic@twtxt.net
I agree only with one thing he says, and that is that he doesn’t understand the mechanics.
I am not a fan of tether, since it is provided by a company I don’t trust. But basically it is USD digitized/backed. People convert USD to tether to by Bitcoin. Inflation happens when you print money. Bitcoin has a cap of max 21 million coins. Fiat money has no cap.