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You're right, Bitcoin is actually more like a penny stock pump-and-dump scheme.
by gamble 15y ago
You're right, Bitcoin is actually more like a penny stock pump-and-dump scheme.
- weavejester 15y agoExcept there doesn't appear to be a whole lot of dumping going on. I suspect the majority of Bitcoin investors are more interested in seeing how far Bitcoin can go rather than dumping all their coins the moment they've made a reasonable profit.
- synctext 15y agoYes, that is the interesting bit. A lot of people are not in Bitcoin for the money primary. They are hoarders or altruists. Once some person tries to cash a $50,000 BTC account it will go down. The market depth is simply not there it seems. The money supply is not regulated vs. the trade volume, right?