USD Tethers Unravel into Crypto Meltdown
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As I warned in my last Crypto Alert last week, it was time to get to CASH in your banks. Bitcoin was headed for $5,000 range and it would destabilize all crypto coins.
If you’re not out of the exchanges now, you might not be able to get out. The house of cards known as USD Tethers is beginning to unravel as the auditing firm responsible for auditing the alleged cash in banks to cover Tethers dissolved their arrangement to audit the real cash reserves many feel is just monopoly money that was used the past 90 days to cause the huge run-up in all crypto coins.
As investors in USDT positions panic on this news we could see a quick spike in values.
Then many will flee to hard wallets and when the dust settles there might not be many exchanges left.
The use of Tethers as well as the use of Bitcoin as the way to value all newer crypto coins are a one two punch that could wipe out most if not all crypto exchanges.
Crypto was not intended to be tied to fiat, just read the Bitcoin white paper.
The greed of speculation and investors tied a noble idea of a new global currency to just plain old greed.
Out of the ashes of this pending meltdown Crypto 2.0 will emerge.
It will be coins and exchanges with no fiat and bank entries or exits.
Merchants get in by exchanging goods and services for a new businesd merchant crypto coin that will have no speculation tied to it and it will be based on the value of the USD as a value only as to what each coin can purchase.
Merchants then can only use that stable coin like a barter token.
Zero speculation so investors will have zero interest in the coin.
Consumers get into the new coin by trading whatever they can to obtain old crypto that will have little value.
The company running the show will have founders, be chartered out of the Caymans and they will set the value of old crypto to be exchanged into the new crypto.
They profit by using old crypto coins like shares in the few old coins that have real business use potential.
Some exchanges might survive but they will be heavily regulated.
The new coin will not be allowed to enter exchanges, it’s value is fixed.
I have such projects ready for this moment in time. A Cayman Coin project with merchants on board and a Caymans Exchange ready to be quickly formed to handle the transition.
Crypto 1.0 is over as the Tether crash manifests.
How fast will it happen?
I told my Crypto Alert list 7 days to exit all Crypto.
Now the world sees why.
I am taking old crypto as it crashes in exchange for founders tokens in these projects.
Many that don’t understand what is happening will continue to value crypto stored in hard wallets so off exchange trades will be made.
But the values of old crypto will now be all greatly reduced and projects tied to real business uses will be the few coins that keep any value at all.
The key to the era of Crypto 2.0 will be the growing acceptance of business merchants to take my stable crypto coin called BizBytes.
My crypto projects founder Tokens are at VCC.capital.
Fiat is not welcomed in the exchange of old broken crypto for founder Tokens in stable crypto projects.
None of my projects will be tied to Bitcoin nor Tethers nor Fiat.
The only connection to old world currency will be merchants will accept it in trade value as equal to the USD.
Welcome to the age of Crypto 2.0.