Indeed. You are absolutely correct. To be clear, I'm no fan of Tether. This is just another anti-crypto thread where I had time to post some thoughts. I suppose I've gotten jaded frontlining anything crypto. When I speak about it to people, mostly they are interesting in what's going to the moon. I have little patience for those conversations. Actually, I can't think of more than a handful that actually want to know the technology or what a pre-mine is and so on before investing.
It reminds me a lot of the 1998-2000 period where people were looking for hot stocks but not doing any research beyond Internet forums and seeing whether a number had gone up.
Some of the people caught out deserved mockery but many were well-marketed to and far out of their league. I’m thinking of a sales guy I knew who mentioned one morning that he’d “invested” all of their wedding money and was now far below water.
