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/biz/ - Business & Finance

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>> No.7206799 [View]
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7206799

>>7206601
>I could have sold WoW gold for 1 USD claiming each one is backed by 1 USD somewhere else
Yes that's the Tether business model

>> No.7121885 [View]
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7121885

>Own *Magic Printer*
>Print magic USDT tokens
>Buy Bitcoin with USDT tokens
>Idiots sell their Bitcoin for USDT tokens on the premise that USDT are a "stable coin" that will always be valued & exchangeable at 1 USD because they backed by 1:1 USD reserves
>Why?
>They trust Tether
>Dumb fucks
>Owner of *Magic Printer* can now sell bought Bitcoins for real USD
>Print more magic USDT tokens
>Buy more Bitcoins for more magic USDT tokens at higher bidded USDT prices
>Pump the price of Bitcoins (and in turn all crypto) because normies think USDT is a stable coin that will always be worth 1 USD because 1:1 USDT:USD reserves
>Dump more Bitcoins for real USD at inflated prices
>Pocket
>Repeat times x2.25 billlion
>x1.5 billion after the SEC subpoenas you on Dec 6th and you scramble for the exits before the market can

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