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> BTC sellers can't put a face to the wallets buying their coins. I have often bought and sold BTC to/from a friend I know. > People invested with Madoff hopi
by repomies691 9y ago
> BTC sellers can't put a face to the wallets buying their coins.
I have often bought and sold BTC to/from a friend I know.
> People invested with Madoff hoping they'd make money. People invest in BTC hoping they'd make money.
Madoff advertised a legal investing business, while he was actually running a ponzi scheme and didn't invest anything. Bitcoin is a transparent open-source system that anyone can inspect very thoroughly how it works. The two cases don't have much to do with each other.
- akrymski 9y agoTransparent? Does everyone know who the handful of individuals are that hold 90+% of all coins? Do they report their transactions to the SEC? Do they manipulate or distort the market? Do they advertise and promote securities without retail investors knowing about it? Wolf of Wall Street was also pedalling stocks that people bought at their own risk. This is now illegal, because it leads to the same price dynamics as a ponzi scheme or a speculative bubble. HFT firms manipulating the market with large sums - also illegal. To think that the crypto market has no insiders is very naive imo