Since we're on the subject, how do people think the Tether situation will play out?
Look at the money inflow graph. Tether surpasses everything else
> Tether has been responsible for multiple bitcoin bubbles now
No one in the space actually believes this.
Before Mt Gox there were no giant bubbles. Post Mt Gox, all of the giant bubbles were most likely caused by Tether.
> No one in the space actually believes this.
That is not true.
Surprisingly, there still are very few people who are away of this ticking time bomb.
The only way the Tether peg could possibly be realistic is if massive amounts of institutional investors were engaging in really unusual settlement procedures to buy into Tether. I've heard stories about Tether having it's investors operate accounts on it's behalf or something, which sounds incredibly farfetched compared to the more likely idea that they're just not bothering maintaining anything close to a reasonable reserve requirement for their peg. After all, nobody can really pull money out of Tether.