Mathematician with a fondness for puppies and beach volleyball

1. Crypto is full of black swan events. 

One of these black swans may soon be the bankruptcy of USDT (Tether), who repeatedly failed to have auditors certify that they are fully backed by dollars, which probably means that they aren't backed.

2. When USDT collapse (and it will because every ponzi collapses at some point), the entire crypto market will crash massively, apart from fully backed stablecoins like USDC who will prove to be resilient.

3. Regarding DAI

Even though I really like DAI for being a decentralized stablecoin, their reserves are only made of crypto coins in the end, so in case of a major crypto market crash (>50%), the reserves could fail to fully back all the circulating DAI, which will drive the price of DAI down and make it crash too.

4. Only USDC will maintain it's peg with the dollar because it's the only one who is fully and provably backed.

Turning USDC market cap maybe even bigger than BTC and ETH, making it the most valuable coin in web3 🪙