US Fed Official Calls Tether a ‘Challenge’ to Financial Stability

Re:US Fed Official Calls Tether a ‘Challenge’ to Financial S... by jkepler on Saturday June 26, 2021 @12:08PM (#27643053)

If you look at the classic definition of a ponzi scheme, bitcoin doesn't fit, though central bank fiat currencies do. See macro economist Lyn Alden's excellent article for the full explanation: https://www.lynalden.com/bitcoin-ponzi-scheme/

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Re:US Fed Official Calls Tether a ‘Challenge’ to Financial S... by mbroncano on Saturday June 26, 2021 @12:32PM (#27643304)

I see a key difference: we choose to participate in a Ponzi scheme, whereas the central bank fiat system is one we are forced to participate in, just by means of being born in a particular country. There’s no choice involved, being backed by the full force and legal monopoly of the state. That’s a key difference many tend to gloss over when pursuing this characterization.

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Re:US Fed Official Calls Tether a ‘Challenge’ to Financial S... by raziel2701 on Saturday June 26, 2021 @06:16PM (#27646451)

The details may be different but the active ingredient is fraud.

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