3 ms·

So say I'd have a blog with a huge reach. I hear about bitcoins. I buy a million for $4 each. I blog about it. Next day it's at $8. I'd sell the bitcoins, maybe

by JCB_K 15y ago

So say I'd have a blog with a huge reach. I hear about bitcoins. I buy a million for $4 each. I blog about it. Next day it's at $8. I'd sell the bitcoins, maybe 10000 a day to not let the market crash, and in 3.5 months I've got $4 million more than I used to.

TheCoreh 15y ago
It's a still small, unregulated market, so yeah, you could probably do that.
- JCB_K 15y ago
  Unfortunately I neither have a blog with big reach nor $4 million. :)
dalore 15y ago
> Dark pools allow you to trade large quantities without moving the market.
- Gaussian 15y ago
  I doubt there's much liquidity to be had in these dark pools. More likely they're dark deserts.
zbanks 15y ago
To be fair, the same happens in the stock market: http://en.wikipedia.org/wiki/Penny_stock#Artificial_Inflation_of_Penny_Stocks http://en.wikipedia.org/wiki/Penny_stock#Artificial_Inflatio...
- JCB_K 15y ago
  ha! that reminds me of my Economy class in high school. We used to do a weekly game, where in the beginning of the year we'd have a certain amount of money, and we'd have to buy stock. The teacher would every week update us with the latest stock information, and based on that we'd have to make decisions. The person with the biggest amount of money at the end of the year won. So I picked stock of a company which was basically bankrupt already, but was still on the stock market (why I don't know, I'm not an expert.) I think the stock was £0.02. So I waited a few weeks, and it happened to be at £0.05. I sold everything, didn't do anything for the rest of the year, and won. Didn't make the game very exciting, but at 15 years old I mainly cared for winning :)
  - Unseelie 15y ago
    I did much the same right after WalMart crashed. Bought (hypothetical) shares for $0.02 a share; won the game by at least four orders of magnitude...
  - zbanks 15y ago
    When we did a stock market game in high school, we weren't allowed to use penny stocks. I was so excited to find stocks that were doubling or tripling daily, only to realize how worthless it'd be in real life. If anyone out there is a trader that works with penny stocks, I'd love to hear your insight. Is it possible to "game the system" by working with just a few (10-100) shares, instead of large holdings?
    - infinite8s 15y ago
      The main issue with small odd lots of penny stocks is that you'd be killed by the commission costs. Most high school "stock market" simulations ignore transaction costs to keep things simple.

by JCB_K 15y ago

TheCoreh 15y ago

It's a still small, unregulated market, so yeah, you could probably do that.

JCB_K 15y ago
Unfortunately I neither have a blog with big reach nor $4 million. :)

dalore 15y ago

> Dark pools allow you to trade large quantities without moving the market.

Gaussian 15y ago
I doubt there's much liquidity to be had in these dark pools. More likely they're dark deserts.

zbanks 15y ago

To be fair, the same happens in the stock market: http://en.wikipedia.org/wiki/Penny_stock#Artificial_Inflation_of_Penny_Stocks http://en.wikipedia.org/wiki/Penny_stock#Artificial_Inflatio...

JCB_K 15y ago
ha! that reminds me of my Economy class in high school. We used to do a weekly game, where in the beginning of the year we'd have a certain amount of money, and we'd have to buy stock. The teacher would every week update us with the latest stock information, and based on that we'd have to make decisions. The person with the biggest amount of money at the end of the year won. So I picked stock of a company which was basically bankrupt already, but was still on the stock market (why I don't know, I'm not an expert.) I think the stock was £0.02. So I waited a few weeks, and it happened to be at £0.05. I sold everything, didn't do anything for the rest of the year, and won. Didn't make the game very exciting, but at 15 years old I mainly cared for winning :)
- Unseelie 15y ago
  I did much the same right after WalMart crashed. Bought (hypothetical) shares for $0.02 a share; won the game by at least four orders of magnitude...
- zbanks 15y ago
  When we did a stock market game in high school, we weren't allowed to use penny stocks. I was so excited to find stocks that were doubling or tripling daily, only to realize how worthless it'd be in real life. If anyone out there is a trader that works with penny stocks, I'd love to hear your insight. Is it possible to "game the system" by working with just a few (10-100) shares, instead of large holdings?
  - infinite8s 15y ago
    The main issue with small odd lots of penny stocks is that you'd be killed by the commission costs. Most high school "stock market" simulations ignore transaction costs to keep things simple.