[mlthoughts2018]

Personally, I see these issues purely as “buy the dip” investment opportunities. For many speculative investors, the crazy volatility from factors like these is what makes crypto attractive. I see a deeply undervalued long-term value proposition for cryptocurrency, where the big risks for today involve the minefield of manipulation issues that have to be survived to get to the other side where the assets appreciate hugely due to a true valuation mechanism, no longer wanton speculation.

In other words, I’ll be happy if bitcoin crashes from Tether (I believe it will, probably to well under $20,000) - that is nothing more than a huge buying opportunity.

[rglullis]

There is a huge moral issue here. You have a company that is manipulating the market like crazy convincing people to put more and more of their savings in crypto, all of it to be taken away.

This asymmetry in information alone should be reason to have them eliminated from the market as soon as possible.

[mlthoughts2018]

Totally agree. Getting rid of Tether and holding them responsible sounds great.

But that has nothing to do with the long-term valuation of cryptocurrency. The part I object to, which is what many of the earlier comments are trying to say, is some version of “Tether & wash trading is bad, therefore bitcoin is nothing but hype / fake scams.”