 Re: fraud,manipulation
Bitcoin's finite and pre-defined supply means it will always be manipulated. It's an invaluable financial tool but you're naive if you consider it a "store of value". It's something that's manipulated at will by whoever has the largest holdings at the time. Decentralization is what makes it worth using but decentralization is also what makes it susceptible to manipulation.
I haven't heard of this particular scheme but I know "Tether" has been suspicious since their inception. All their USDT's are supposed to be backed by real USD in a bank account but as far as I know, they've never been able to have an audit conducted on themselves. Without an audit, they're "minting" their coins out of thin air. Those USDT's minted out of thin air can then be traded for BTC which has significant market value. So, I can see how USDT could be used to play with BTC prices.
In short, you'd be dumb to hold any significant portion of your savings in BTC, unless you're one of the guys holding several tens of millions of dollars worth. If you aren't a whale, buy the amount you need, send it, and run.
I'd be interested in reading the article if you can find a non pay-to-play version.
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Last edited by phaz0rz; 11-06-2019 at 08:20 AM.
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