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You can do the same if you have a lot of USD in the first place or alternatively with reserves. Printing Tether isn't required and it is questionable if a pump
by Tenoke 4y ago
You can do the same if you have a lot of USD in the first place or alternatively with reserves. Printing Tether isn't required and it is questionable if a pump and dump at quite this basic of a level is profitable on average.
- dsr_ 4y ago"There is this other scam you can commit with less work" is not an argument that the first scam isn't happening.
- Tenoke 4y agoIt's not 'other scams'. It's that printing - the only thing Tether can do which others can't and seemingly the main reason why they suggest Tether is the one doing it - doesn't add much of anything to the scam.
- banannaise 4y agoThe mechanism of a pump-and-dump like this is to spend your company's assets to boost the price of your personal (crypto) holdings. The exchange and the coin don't profit from the scheme; they lose money, while the owners of Tether/Bitfinex win big with their personal assets. It's a way of cashing out company funds.