“Sell Bitcoin” It’s over folks.

If Ethereum gas costs keep dropping on average, what’s the point of L2s or other L1s like Monad? At 1 cent or below per tx it makes no sense to use anything but Ethereum since it’s the most secure, economies of scale, etc. Maybe the past few years were an anomaly.

Imagine thinking Tether with $181 billion market cap is insolvent when all that USDT is backed by the most liquid collateral that exists in the world: ▫️ US-Treasury Bills - $28 Trillion mcap ▫️ Gold - $29 Trillion mcap ▫️ Bitcoin - $2 Trillion mcap The risk with stablecoins is mostly about liquidity that needs to be accessed on demand in times of stress. Even if a stablecoin is fully backed, if that collateral is sitting in say real estate, that's a guaranteed depeg event. That's because selling houses to access liquidity is not as easy as clicking sell like for BTC or Gold. Tether has no problem to liquidate 80% of its collateral on demand before there are any liquidity concerns. Those FUDing Tether / USDT need to do better because this is not it. You're better off FUDing your local bank since its collateral is only 10% of all liabilities (called Fractional Reserve Banking). With that in mind, I expect people to attack Tether even more in the future as it approaches $1 Trillion market cap. Follow @DU09BTC and let me know if you agree in the comments.