Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.
The progressive world is flooded with so many shitcoins that it clearly needs sanitation. Shitcoins are able to mimic solid projects, it's not just “Ojingeo geim”, but quite respectable networks that suddenly stop working and require restarting, or can be rolled back by the will of one person to a state that he considers more fair (if you dive deeper into the history). Many fashionable blockchains, as well as stable coins from the top twenty, can prove colossuses with feet of clay.
UST stablecoin's fall (TerraUSD) 09/05/2022
While the cozy world of pseudo-blockchains has not shaken, it's time to convert all this junk into gold. But what is gold? Gold is Bitcoin. Rest assured, if bitcoin falls, all cryptocurrencies and tokens population will be washed away from the surface of the earth overnight. This will be equivalent to the dinosaur's mass extinction , with the only difference that even the last rates will not survive in the apocalyptic cauldron. Therefore, we must stay with bitcoin. t you can stay with BTC in different ways. It is possible as many - bought and HODL. You can become a miner and devote yourself to farming.We propose a third approach, perhaps the most high-tech.
Bitcoin is based on mining power, and we have it. We sell bitcoin hashrate in the form of BTCMT tokens, whose staking is equivalent to incessant mining, because the owner receives mining rewards daily. 1000 BTCMT give about $80 monthly (as of 1Q 2022). You don't need to hold bitcoin and sleep badly because of its fluctuations, you don't need to pick at mining hardware, you need to stake all your BTCMT and prepare a piggy bank.
“Our existing regulatory frameworks were not built with a digital world in mind,” Federal Reserve Chair Jerome Powell said. “Stablecoins, central bank digital currencies, and digital finance more generally, will require changes to existing laws and regulation or even entirely new rules and frameworks.”
BTCMT tokens are sold for USDT, and we are often asked if it is not scary to accept questionable coins for payment? We answer that it's scary, but we don't save USDT, but immediately invest it in new equipment. If USDT disappears, there will be other coins that will make excellent currency pairs with BTCMT. But our product is addressed at a different time, to a place where true value will be appreciated, and not idle thoughts about bandwidth, scalability and other meaningless categories.
“We don’t know how some digital products will behave in times of market stress, which could lead to large destabilizing flows, nor do we know how stresses in crypto markets could potentially spill over into the traditional financial system.” (Jerome Powell)
It seems that the entire top twenty, with the exception of bitcoin, is mostly slag blown by the wind to the top of the mountain, where there was simply too much free space. Like a littered Everest, the mountain still tolerates, but is no longer averse to self-cleaning.
Powell said the Fed has “long supported responsible innovation,” though he added that it is difficult to tell which innovations “will have lasting effects and those that will turn out mostly to be hype.”
The cryptocurrency industry is very young, someday we will watch a life's infographic of cryptocurrencies and tokens, wondering and smiling that some Shitana or Suckmydot has been hanging out in the top ten for so long. Everything will pass. Out of every ten, one coin will survive at best, and this will happen quickly and imperceptibly. In a few years, the familiar landscape will not be recognized. Therefore, we have prepared ourselves and recommend buying profitable and reliable things right away, and not freezing money in a garbage dump!