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by mikecane 4826 days ago
Is it safe for me to express my belief that Bitcoin value is being manipulated by forces who intend to crash it? I've stayed away from it simply because of that. I fear some people are in for a very rude awakening. Don't count your money just yet -- and, for god's sake, don't try to use it as the basis for any paper money loans! None of you knew about Stuxnet. The story of Bitcoin's infiltration and manipulation is years away from being revealed.
3 comments
Hermel 4826 days ago
Who do you have in mind? I don't see anyone who wants Bitcoin to crash desperately enough to spend millions on inflating a bubble and then pop it - which is a very risky and costly plan. More likley would be a scenario in which someone who holds a lot of Bitcoins pushes MtGox prices upwards in order to be able to sell OTC at inflated prices. However, given that Bitcoin on MtGox has a volume of USD 20 million daily, this takes a lot of resources. It is much easier to manipulate a low-volume stock on the stock market.
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davidw 4826 days ago
Fun fact of the day: in Italy, this idea of "but who's REALLY behind it" is called "dietrologia", or, very literally translated, "behindology".

My theory: it's the Mayflowers.

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rplnt 4826 days ago
> given that Bitcoin on MtGox has a volume of USD 20 million daily, this takes a lot of resources

Or $200,000 in yesterday's terms. Doesn't seem so hard to influence anymore.

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mikecane 4826 days ago
>>>desperately enough to spend millions on inflating a bubble

Millions is pocket change to those who deal with figures in the hundreds of billions.

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masklinn 4826 days ago
> Is it safe for me to express my belief that Bitcoin value is being manipulated by forces who intend to crash it?

Right now I expect a lot of speculation rather than manipulation for crashing. It will end up crashing bitcoin when speculators start selling, but the end goal of the croad is probably to make a quick buck rather than crash it.

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yuvadam 4826 days ago
Really? Should we talk about $$$ manipulation?

We all know about the world finance industry. We all know how corrupt it is and how fucked-up things really are. Yet discounting Occupy - which was violently suppressed anyhow - I don't see people in on the streets demanding to burn down Wall Street to ashes.

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mikecane 4826 days ago
>>>Really? Should we talk about $$$ manipulation?

This is the same thing by the same people is my suspicion.

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