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Tether, for the first time ever has burned a significant amount of Tether. 5 billion in total. The end of what has been build up since 2016 might be near.

Tether, for the first time ever has burned a significant amount of Tether. 5 billion in total. The end of what has been build up since 2016 might be near.

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We all know Tether is pure fraud. However nobody really knows how many reserves they have, if those are in crypto or in cash or in whatever.

They are a black box.

This 5 billion, is it them pretending to cashing out a whale?

Are THEY cashing out themselves?

Did they really just redeem 5 billion Tether for 5 billion dollars?

Nobody knows ... well somebody does ... but it's not me or you.

We all know that one day Tether will die.

It's very possible that it will happen now.

Right now after these massive crashes, everybody is expecting a recovery.

But if the fed announces they are touching interest rates again or if Europe and the USA come out with strict regulation on stablecoins.

This might spook the stablecoin system. When there is panic amongst the whales, the entire cryptocurrency system will follow luna in absolutely no time.

It will be unlike anything the world has ever seen.

This is the best thing ever for P2P cash cause it will be the great reset after which everybody loses almost everything.

And BCH can start over from basically zero, trying to find adoption.

But in the process the price of BCH will dip and dip and dip and dip and dip.

If there are cryptocurrencies that survives such a reset it will be only three. Ethereum, monero and Bitcoin Cash.

Sure, Bitcoin will look to the be the first recovering. But then people will be like: wait a minute, this stuff has no utility why does it have value?

The world post Tether will be radically different.

One way of looking at the insane increase of stablecoins the last 2 years is the following.

If you believe the prices of cryptocurrencies will go up, you don't put your money in stablecoins.

So that means the more stable coins there are and the more money in those stablecoins the more people bet on the prices of crypto going down, not up.

BUSD, USDC, DAI .... they should survive.

And once Tether is gone, the system will be much fairer for Ethereum, monero and Bitcoin Cash.

If this reset happens it's pretty much a given that Ethereum will overtake Bitcoin in marketcap, because of it's utility.

Because of all the stablecoins and tokens on Ethereum it's more economic resilient then Bitcoin.

Bitcoin only has one thing going for it. The high price and the believe that the price will go even higher.

Something happens to Tether that causes the right amount of panic and that Bitcoin believe melts like snow when the sun comes up.

And then Bitcoin has nothing left.

I could see all of this play out in just 3 weeks.

Luna went to zero in 3 days. 99,9% of crypto could go to zero in just 3 weeks.

And even if you would short, you would most likely still lose because of how Tether has infected every single part of the ecosystem.

Luna went down in just 3 days. The moon went blood red. Maybe it's a sign. And everybody is incredibly nervous right now, and this makes for the perfect possible panic.

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