Bitfinex Review: Bitfinex is a ponzi scheme.... | ICORating


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Bitfinex is a ponzi scheme....

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Bitfinex is a ponzi scheme. They pay you in Tether coins. You must exchange the tether coins for USD. Bitfinex and Tether, Inc has the same board members. Bitfinex uses their sister company to mint coins to pay you. Tether was created to "tether 1 coin to 1 USD". With the ability to mint endless number of coins and no regulation/banking oversight, Bitfinex exchanges your bitcoin and ETH for tethers to leave you hold the bag. It's causing bitcoin's price to become overvalued and inflated. Bitcoin was created to stop inflation and now unregulated exchanges is fraudulently inflating the price.
05 Feb 2018 by CryptoCompare

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