We've all been saying this for literally years now and yet here we are. The crypto market doesn't make any sense at all.
It has to crash sometime, right? I mean it is obvious to anybody paying any attention that tether is a scam. How has it gone on this long? What will finally do it in?
2. We would only see this on a massive sell off when Tether can't prop up the price fast enough with their reserves (by buying USDT with USD). This almost happened on May 11 of 2022.
3. The Madoff scam went years and years before finally being outed in 2008. Decades perhaps?
They are too powerful with too much money and too much centralized collusion to fail on their own. And the US policy still can’t define crypto, let alone police it properly. Only the full might of the US judicial system will make tether fail.
This did not almost happen. Do you enjoy writing fiction?
If you pay low or no interest, a Ponzi can be kept going for a long time. Eventually, though, the end of growth plus ongoing withdrawals catch up.
At least it’s a non-productive asset so that’ll keep the cost down a bit, no?
Tether was taking other end of bitcoin shorts for 5 years. Its fantastically profitable and you bought the manufactured story that they are about to collapse any moment.
Unfortunately, it is very difficult to know when.