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A Ponzi scheme is an investment fund whereby older investors are paid returns from newer investor principle. Tether does not promise any returns. It’s not an i
by tofukid 5y ago
A Ponzi scheme is an investment fund whereby older investors are paid returns from newer investor principle.
Tether does not promise any returns. It’s not an investment. It’s a stable coin. It’s traded near $1 to 1 tether. Most traders don’t redeem tethers. They sell them on an exchange when they need to go back to dollars.
- robbiep 5y agoI’m not saying it is or it isn’t. The thesis of the article is that it is, and the reasoning they provide is consistent with the definition of a ponzi scheme. So it’s consistent and your reasoning is no better than theirs until we have more evidence (ie it fails or it becomes the cornerstone of a long lived vibrant ecosystem)