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Some of the shady bitcoin exchanges and Bitcoin derivatives product offerings really do remind me of bucket shops that were popular in the early 20th century (h
by Macross8299 8y ago
Some of the shady bitcoin exchanges and Bitcoin derivatives product offerings really do remind me of bucket shops that were popular in the early 20th century (https://en.wikipedia.org/wiki/Bucket_shop_(stock_market) https://en.wikipedia.org/wiki/Bucket_shop_(stock_market))
One difference is that the obvious remedy that was applied to bucket shops at the time (regulation) doesn't seem to be as effective this time around due to the international nature of Bitcoin markets.
- buttcoinslol 8y agoBitMEX isn't like a bucket shop, it is a bucket shop. Complete with price manipulation to blow out shorts/longs when too many people are stacked on one side of the action to pocket the margin deposits, repeat ad infinitum. Check out some 15/30 min or 1h BTC charts, look for 'bart' patterns. Pumping and dumping to wipe out shorts/longs, it's blatant and obvious.