When I saw the crypto market cap move from $800B to $400B in a matter of days following the questions surrounding Tether, "crash" was the word I characterized it with.
While I saw no cause for panic myself, this "crash" tells us something about the overall composition of the crypto economy.
For one, it seems that convergence on something like a crypto-Federal Reserve is being tested and that we may be talking about fractional reserves soon. IMHO, we need to come down against tether coins. I understand the need for a stable coin, but I'd ultimately like to see something like an index coin solve the "...nowhere to hide fast" problem. I feel like reducing the impetus to dump crypto this way is important.
And two, what does it say about crypto-culture? Ideally, we want to build a broad perception of value in cryptocurrency and blockchain technology as a whole. This is the future we want, yes?
Are we treating it with that regard, or is it just another investment vehicle?
An index would be nice. I think people would feel more secure investing in an index.
invest in it as opposed to day trade