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Game theory predicts that market participants who discover Tether is a scam would publicly praise it while simultaneously moving away from it slowly and quietly
by xenadu02 5y ago
Game theory predicts that market participants who discover Tether is a scam would publicly praise it while simultaneously moving away from it slowly and quietly to avoid spooking the market - leave some other sucker holding the bag.
We also know people can be irrational so those who depend on Tether to operate simply cannot acknowledge it is a scam.
- boc 5y agoYeah it's actually quite clever. Once you realize you've been trapped in a scam, the only way out is by hyping bitcoin so much that enough liquidity enters Bitfinex and allows you to liquidate your holdings. If you blow the whistle you get nothing out. If you ask for your money immediately, the exchange tells you they can't honor that request currently, but could if the price rises enough from new entrants. It's basically like a pyramid scheme where you can buy your way out by shilling hard enough for Bitcoin.
- deleted 5y ago[deleted]