Re:Bitfinex never ‘repaid’ their tokens, they started a ponz...
by mannykannot on Monday November 06, 2017 @07:48AM
(#15635058)
As the author has made a strong argument that the equity shares are in fact worthless, the caveat is not much of one.
To be precise, it is not the debt-to-equity swap that the author is comparing to a Ponzi scheme, but the part where it is suggested they get their money back by selling on to a second round of 'investors' - but pedantic arguments over what to call it can only distract from the central issue of fraud.
To be precise, it is not the debt-to-equity swap that the author is comparing to a Ponzi scheme, but the part where it is suggested they get their money back by selling on to a second round of 'investors' - but pedantic arguments over what to call it can only distract from the central issue of fraud.