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What's there to explain? Tether manipulation of 'prices goes up', leads to fomo, leads to cashout of big players, leads to bagholding from retail who has no ot
by firekvz 5y ago
What's there to explain?
Tether manipulation of 'prices goes up', leads to fomo, leads to cashout of big players, leads to bagholding from retail who has no other option than joining the crypto cult to try to fomo others and move price back up
It's pretty obvious
- saalweachter 5y agoHonestly I think the innovation there is that it's a distributed Ponzi. With any normal Ponzi scheme, there is "a guy", a guy at the center of it all cooking the books and redirecting the funds from late investors to early and skimming a healthy bit for himself. One day that guy gets arrested or decides it's time to run and the scheme collapses. Maybe that day comes a year in, maybe twenty, but it's a-coming. With a distributed Ponzi scheme, there is no one guy. If some people get arrested for fraud or take their loot and run off somewhere, other people can step in and keep it all going, pumping and dumping and scamming and scheming. I honestly don't know what it would take to actually make it go away for good.
- NicoJuicy 5y agoNot for everyone