I just wanted to talk about all the fud going on right now in the crypto market real quick. First it started with the 450 million in Nem being hacked and stolen and now it’s about usdt and bitfinex being supenoed by the sec. Here’s a brief article explaining why this is happening. https://www.ccn.com/cftc-subpoenas-bitfinex-and-tether-as-questions-mount-over-audit/.
Now to my personal opinion. I’m pretty new to the whole crypto currency space only 3 months but what I’ve learned in that short time is that any little or big piece of information true or false can make big swings in the market. It will be hard for the market to grow and stay stable if every time something negative is said a big portion of people get scared and cash out. What I want is the market place to have stability over the news that comes out. If one currency has a scandal the market as a whole should not get destroyed it should only be that individual coin. It will be hard for everyone to see the growth we want in the market as a whole if we let one thing do take us down 50 billion dollars in an hour. Usdt is one crypto in a market of 1400 others how does it swing the entire market cap that much down when they say it’s only worth 2.3 billion. That should only be a blip in the sea not 50-60 billion. The currency sounded like a scam from the beginning anyway how did they get 2.3 million to back it in the first place? No one knows. Sorry this kind of turned into a rant but if you guys leave comments I wanted to start a descusion about your thoughts and feelings on this. Have a good day.