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History repeating?


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It is possible, but that 2017 run was essentially a run into BTC followed by successive Tether-induced BTC pumps.

The same players involved certainly still have the means to trigger a similar scenario, however since their methods are now widely known any such maneuvers would be likely to attract significant unwanted attention (public, regulatory).  Additionally, exchanges seem to be quickly jumping onto TUSD, PAX, GUSD and USDC bandwagons which once in place will dilute potential market manipulation attempts stemming from USDT.   Long story short, our climate at the moment is quite a bit different than it was in April 2017, so I think that a repeat is unlikely.

One thing that is similar is that ETH took off at roughly that time frame;  this time around the excitement seems to be around XRP.

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48 minutes ago, bayarea510 said:

So basically either the whole market will get completely destroyed and could take many years to recover or tether comes up with a means to stabilize itself and restore the public's faith and market continues going about its business.   

Whatever happens, Tether/Bitfinex won't make it. They are involved in to many crimes.

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4 minutes ago, Zielonegrabiezawszewmodzie said:

Whatever happens, Tether/Bitfinex won't make it. They are involved in to many crimes.

Yeah I doubt they will make it. I just hope things stabilize because this could be devastating for everyone. Our xrp will go back to very little worth and all the effort and achievements the crypto community has made will be F***** just because one company/exchange screwed things up for everyone. This will make media tear alive crypto calling it "the biggest scam ever." Maybe I'm just overthinking thinks (I hope so). On the other end we have a real use case with customers so hopefully we will recover in the long run. It will definitely shake investor's/banks confidence for now.  

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23 minutes ago, bayarea510 said:

Yeah I doubt they will make it. I just hope things stabilize because this could be devastating for everyone. Our xrp will go back to very little worth and all the effort and achievements the crypto community has made will be F***** just because one company/exchange screwed things up for everyone. This will make media tear alive crypto calling it "the biggest scam ever." Maybe I'm just overthinking thinks (I hope so). On the other end we have a real use case with customers so hopefully we will recover in the long run. It will definitely shake investor's/banks confidence for now.  

I don't think so.  FIs would support XRP to keep its price up and then all the frightened money would flow into XRP as a safe haven.

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34 minutes ago, Julian_Williams said:

I don't think so.  FIs would support XRP to keep its price up and then all the frightened money would flow into XRP as a safe haven.

This! 

Thought exactly the same thing. Panic will ensue and people will look to bail into something else. Also, Tether is micro sized compared to the broader market. Not like if everyone bailed on USD and tried to pull out. There might be short term pain but also, anyone worried is probably already shifting from Tether to uSD or another stable coin. Look at Bittrex.  It has like 3 stable options. 

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