Re:Crypto.com Will Delist Tether in Canada
by voytec on Tuesday January 10, 2023 @11:49PM
(#34335115)
> Can someone explain to me how did they manage to mess it up?
You're assuming an intent to make (all) customers whole.
In Ponzi Scheme you collect $$$, mint coins or forge other confirmation, move money to Panama or spend it and when asked to pay out, you use other investors money. The only reason for making some customers whole is to keep the scheme going.
The problem for Ponzi operator starts when too many victims want they money back and there is no big enough source of it to cover payouts.
You're assuming an intent to make (all) customers whole.
In Ponzi Scheme you collect $$$, mint coins or forge other confirmation, move money to Panama or spend it and when asked to pay out, you use other investors money. The only reason for making some customers whole is to keep the scheme going.
The problem for Ponzi operator starts when too many victims want they money back and there is no big enough source of it to cover payouts.