> none of my smart peers had anything to say, either.
It's because they know. I think everybody knows that crypto is a bubble. I think everybody believes everyone else that buys into it is dumb, financially illiterate, whatever. The crypto market has been propped up and boosted by an influx of people like that, each one knowing it's a bubble, believing everyone else is an idiot... but still wanting a slice of the pie, just in case there's another big wave coming and they will make it rich themselves. It's an interesting study in idk, doublethink? Self-delusion? Wishful thinking?
Savings accounts are not speculative investments that are expected to appreciate over time. They are for people to store easily accessible money in, so that they can spend it in the future. Nobody is banking on selling their USD to someone else at a 2x markup in the future.
> > none of my smart peers had anything to say, either.
> It's because they know. I think everybody knows that crypto is a bubble.
You're conflating 2 different things. Your parent poster was talking about Tether specificly and why it's a scam. Whether the whole asset class is in a bubble or not is a whole different discussion.
It's because they know. I think everybody knows that crypto is a bubble. I think everybody believes everyone else that buys into it is dumb, financially illiterate, whatever. The crypto market has been propped up and boosted by an influx of people like that, each one knowing it's a bubble, believing everyone else is an idiot... but still wanting a slice of the pie, just in case there's another big wave coming and they will make it rich themselves. It's an interesting study in idk, doublethink? Self-delusion? Wishful thinking?