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RE: Tether & Bitfinex Legal Status Update ! Will it Crash the Market ?
I personally think that bitUSD, bitCNY or even bitEUR are a lot more secure way to keep your money safe and pegged to fiat than doing it via Tether.
I 100% agree with that.
I think the risk is that these are derivative instruments which depend on a strong BTS, aren't they?
So logic would imply that if a large amount of the increase in BTS price and all the bitFiats created was due to excess funds from the rest of the crypto world pouring in, then that means that when liquidity is drawn out it would also disrupt the bitEconomy heavily if it too was pumped with inflated Tether-priced assets. I think there is still tremendous risk even in the assets you listed, even if I personally agree that they are safer than Tethers, I do not believe they are invincible.
Agreed on that. BitAssets aren't invicible, but they are a lot safer than USDT. They have special margin calls happening in these cases. So supply of bitassets isn't a thing that always goes up. Also, there is a black swan event.