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Bitcoin's price dynamics are pure manipulation; there isn't more to it. People participate for the vol that comes from that price manipulation. There isn't more

Bitcoin's price dynamics are pure manipulation; there isn't more to it. People participate for the vol that comes from that price manipulation. There isn't more to that either. This Animals Spirit is not very evolved. "Plain manipulation" isn't a bad thing unless you react emotionally to such words, and that's kind of the proof, isn't it?

api 6y ago
Heard any good ideas about what caused the latest pump? It wasn’t Elon/Tesla since that came later. It’s really interesting that it came right after the election, but I can’t see a causal connection unless a bunch of Q nuts are shoveling money into Bitcoin to avoid the “great reset.” I was surprised by the pump, but didn’t buy in because by the time you see such a thing it is always too late.
- 0134340 6y ago
  It seems it would be contradictory for the "Qnuts" to buy bitcoin. Cryptocoins do more to enable and perpetuate a global economy than standard localized currency. If not soon enough, I can see those types finally realizing the beast they catered to, cryptocoins owned by new globalist ruling classes, just so they could stick it to the man and feel good for a moment. Not that I believe globalism is necessarily a good or bad thing, depends on context but it just signifies once again the myopia of many extremist ideologies.
- pureliquidhw 6y ago
  Robinhood allowing easy, fractional purchases probably has a lot to do with it. That with the gambling nature, 10 million people playing with 1000 bucks each is a billion dollars. All Bitcoin are not worth $50k each, but a Bitcoin is. Someone who can't afford to buy a Bitcoin, will buy 1/50th of a Bitcoin for $1000. That's affordable. Then they'll sell that 1/50th to the next guy for $2000. That prices a Bitcoin at $100k. Try to sell 1000's of coins at that price and the buyer pool will eventually dry up, prices will begin to go down, and all those white knuckle retail investors who can't afford to lose $1k dump and the price collapses. Millions of people each lose a grand here or there. Hedge funds sold long ago to those fractional buyers. Pump and dump 100%.

api 6y ago

Heard any good ideas about what caused the latest pump? It wasn’t Elon/Tesla since that came later. It’s really interesting that it came right after the election, but I can’t see a causal connection unless a bunch of Q nuts are shoveling money into Bitcoin to avoid the “great reset.” I was surprised by the pump, but didn’t buy in because by the time you see such a thing it is always too late.

0134340 6y ago
It seems it would be contradictory for the "Qnuts" to buy bitcoin. Cryptocoins do more to enable and perpetuate a global economy than standard localized currency. If not soon enough, I can see those types finally realizing the beast they catered to, cryptocoins owned by new globalist ruling classes, just so they could stick it to the man and feel good for a moment. Not that I believe globalism is necessarily a good or bad thing, depends on context but it just signifies once again the myopia of many extremist ideologies.
pureliquidhw 6y ago
Robinhood allowing easy, fractional purchases probably has a lot to do with it. That with the gambling nature, 10 million people playing with 1000 bucks each is a billion dollars. All Bitcoin are not worth $50k each, but a Bitcoin is. Someone who can't afford to buy a Bitcoin, will buy 1/50th of a Bitcoin for $1000. That's affordable. Then they'll sell that 1/50th to the next guy for $2000. That prices a Bitcoin at $100k. Try to sell 1000's of coins at that price and the buyer pool will eventually dry up, prices will begin to go down, and all those white knuckle retail investors who can't afford to lose $1k dump and the price collapses. Millions of people each lose a grand here or there. Hedge funds sold long ago to those fractional buyers. Pump and dump 100%.