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The fact that Tether has gone on for so long is proof you can do these kinds of things on the year-long scale and have plenty of time to plan an exit well befor
by vsareto 6y ago
The fact that Tether has gone on for so long is proof you can do these kinds of things on the year-long scale and have plenty of time to plan an exit well before the cards collapse. People have been calling the risk of Tether for a while (self included) but it just hasn't been realized. It's entirely possible it survives a significant amount of time for it to become a necessary part of BTC, whether that's ultimately good or bad.
- aent 6y agoThey've been relatively modest with their scam for quite a while, e.g. they printed less than 5 billion in the first three years of their existence. Then another 5 billion in just 6 months, and then it went completely off the charts and now they are printing billions weekly, 2 billion just in the in the last 7 days. If they kept it reasonable they probably could have kept it on for a while, but at this scale it'll have to collapse.