The Tether Ponzi Scheme

Re:The Tether Ponzi Scheme by viraptor on Wednesday May 19, 2021 @06:01PM (#27215093)

People like to say Ponzi scheme, but that's got a specific meaning. Having secret hardware which can mine it faster is not it. Being worth more money than was put in is not it. (Otherwise almost every stock market ticker would be a Ponzi scheme)

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Re:The Tether Ponzi Scheme by yqe78 on Wednesday May 19, 2021 @06:22PM (#27215292)

I’m amused that you expect someone who openly thinks money is a joke to grasp the subtleties of what constitutes a Ponzi scheme.

I know Ponzi schemes are bad. I think your money is bad. Therefore, your money is a Ponzi scheme. That’s the entirety of the logic employed by the comparison.

Just wait until you hear what they’ve done with the term “market capitalization”.

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Re:The Tether Ponzi Scheme by dheera on Wednesday May 19, 2021 @06:41PM (#27215445)

Ponzi schemes mathematically just reduce to a lottery with slightly better odds than most lotteries.

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