LogFAQs > #949752573

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Topic	Ethereum broke its all time high [crypto]
1337toothbrush 01/21/21 12:17:30 PM #30:	E32005 posted... how is tether a scam? i thought it was just tied to the dollar. basically a holding coin. It's "tied" to the dollar with the claim that each tether is backed by a dollar "or equivalent" in holdings. One thing they've been doing is buying shit-tons of bitcoin with tether and as the value of bitcoin rises, then the holdings increase in value, meaning that they print more tether to match it. It's a feedback loop that'll fall apart and the founders are just trying to squeeze as much money out of the scam before it all collapses. --- https://gamefaqs.gamespot.com/boards/261-politics/78252375/931554955 https://imgur.com/a/FU9H8 - https://imgur.com/ZkQRDsR - https://imgur.com/2x2gtgP <cite>1337toothbrush posted [p:949752573] in Ethereum b... [t:79247648]...</cite> <quote>E32005 posted... </cite> <quote>how is tether a scam? i thought it was just tied to the dollar. basically a holding coin.</quote>It's "tied" to the dollar with the claim that each tether is backed by a dollar "or equivalent" in holdings. One thing they've been doing is buying shit-tons of bitcoin with tether and as the value of bitcoin rises, then the holdings increase in value, meaning that they print more tether to match it. It's a feedback loop that'll fall apart and the founders are just trying to squeeze as much money out of the scam before it all collapses. --- https://gamefaqs.gamespot.com/boards/261-politics/78252375/931554955 https://imgur.com/a/FU9H8 - https://imgur.com/ZkQRDsR - https://imgur.com/2x2gtgP</quote> ... Copied to Clipboard!
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