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You have to wonder how much insider trading goes into this. I would assume there are some big bitcoin/ether holders from the early days now who are sitting on
by calafrax 9y ago
You have to wonder how much insider trading goes into this.
I would assume there are some big bitcoin/ether holders from the early days now who are sitting on billions in theoretical worth and the ICOs provide an inflow of cash that allows them to cash out.
If you have a big bitcoin/ether position then you can make these ICOs pop and then the momentum ends up pulling more people into ether/bitcoin which allows you to exit your position.
- omarchowdhury 9y agoThis is exactly what has to be happening.
- jonnathanson 9y agoTotally. I would actually be surprised if it's not the case. I'd also expect a decent amount of what is essentially wire fraud from "startups" who never intend to ship anything. The blockchain is a revolutionary concept, but right now it's looking like little more than a wild west of fly-by-night opportunism.