8 ms·

From TFA: "If some random guy did all of this with < $200k... To what extent could you manipulate a larger coin if you had billions?" https://markets.businessi

From TFA: "If some random guy did all of this with < $200k... To what extent could you manipulate a larger coin if you had billions?" https://markets.businessinsider.com/currencies/news/nouriel-roubini-elon-musk-bitcoin-tweets-sec-investigate-market-manipulation-2021-2-1030074013 https://markets.businessinsider.com/currencies/news/nouriel-...

dexterdog 4y ago
Totally. They're all shitcoins if the con-man has enough to bait with.
- moffkalast 4y ago
  "Every coin's a shitcoin if you throw enough shit at the coin."
chrisco255 4y ago
To what extent could you manipulate every financial market if you had trillions? That's called central banking.
- MarkMarine 4y ago
  You don’t need trillions, Jim Cramer is a joke now but he used to do this with his hedge fund, and bragged about it: https://www.reddit.com/r/videos/comments/lg0ial/jim_cramer_explains_how_he_manipulated_the_market/ https://www.reddit.com/r/videos/comments/lg0ial/jim_cramer_e...
- fny 4y ago
  Equating shitcoin pumping to central banking is hilariously absurd. While I do agree that central banking has gone too far, central bankers--at least in developed countries--are not on some blatant mission to rob people of money for their own enrichment. Sure corruption might happen on the fringes, but it's not the primary intent. Pump and dumps are pump and dumps. The primary mission is to fuck others over.
  - hgazx 4y ago
    > central bankers--at least in developed countries--are not on some blatant mission to rob people of money for their own enrichment Have you looked at the current world?
    - johnnymorgan 4y ago
      This guy understands PPP and how central bankers have absolutely being robbing people. You're alright, we should hang out :) Cheers
  - throwawaymaths 4y ago
    It is absurd! At least victims of shitcoin pumping are putting their money into the fraud willingly! > are not on some blatant mission to rob people of money for their own enrichment. Yes, they are. The point of inflation in contemporary mainstream economic theory is to lower the nominal price of labor and increase employment. So if "making themselves look like they are doing something" counts as "their own enrichment" then yes, central bankers are robbing people of their past value of their labour, especially low income labourers, to make themselves look like they are doing the country a solid. CS Lewis quote comes to mind: "Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience"
    - fny 4y ago
      > inflation in contemporary mainstream economic theory is to lower the nominal price of labor Erm. Wut? Pray tell which economic theory espouses this? The point of inflation (1-2%) is to prevent deflationary spirals. Presuming there is some maximum productive capacity, wages will necessarily go up with inflationary currencies ideally in line or exceeding inflation. Bank interest rates also ideally match the inflation rate. The only reason nominal wages have remained suppressed in developed nations has been outsourcing. This is not a function of the central bank.
pbhjpbhj 4y ago
To what extent could you manipulate any traded article/token ... stocks, futures, art, regional housing, and yes NFC, and crypto-coins.
- deleted 4y ago
  [deleted]
seydor 4y ago
... or the price of the world's most capitalized company
tengbretson 4y ago
If you're a billionaire you don't even have to buy the billboards. You just get invited onto SNL.

dexterdog 4y ago

Totally. They're all shitcoins if the con-man has enough to bait with.

moffkalast 4y ago
"Every coin's a shitcoin if you throw enough shit at the coin."

chrisco255 4y ago

To what extent could you manipulate every financial market if you had trillions? That's called central banking.

MarkMarine 4y ago
You don’t need trillions, Jim Cramer is a joke now but he used to do this with his hedge fund, and bragged about it: https://www.reddit.com/r/videos/comments/lg0ial/jim_cramer_explains_how_he_manipulated_the_market/ https://www.reddit.com/r/videos/comments/lg0ial/jim_cramer_e...
fny 4y ago
Equating shitcoin pumping to central banking is hilariously absurd. While I do agree that central banking has gone too far, central bankers--at least in developed countries--are not on some blatant mission to rob people of money for their own enrichment. Sure corruption might happen on the fringes, but it's not the primary intent. Pump and dumps are pump and dumps. The primary mission is to fuck others over.
- hgazx 4y ago
  > central bankers--at least in developed countries--are not on some blatant mission to rob people of money for their own enrichment Have you looked at the current world?
  - johnnymorgan 4y ago
    This guy understands PPP and how central bankers have absolutely being robbing people. You're alright, we should hang out :) Cheers
- throwawaymaths 4y ago
  It is absurd! At least victims of shitcoin pumping are putting their money into the fraud willingly! > are not on some blatant mission to rob people of money for their own enrichment. Yes, they are. The point of inflation in contemporary mainstream economic theory is to lower the nominal price of labor and increase employment. So if "making themselves look like they are doing something" counts as "their own enrichment" then yes, central bankers are robbing people of their past value of their labour, especially low income labourers, to make themselves look like they are doing the country a solid. CS Lewis quote comes to mind: "Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience"
  - fny 4y ago
    > inflation in contemporary mainstream economic theory is to lower the nominal price of labor Erm. Wut? Pray tell which economic theory espouses this? The point of inflation (1-2%) is to prevent deflationary spirals. Presuming there is some maximum productive capacity, wages will necessarily go up with inflationary currencies ideally in line or exceeding inflation. Bank interest rates also ideally match the inflation rate. The only reason nominal wages have remained suppressed in developed nations has been outsourcing. This is not a function of the central bank.

pbhjpbhj 4y ago

To what extent could you manipulate any traded article/token ... stocks, futures, art, regional housing, and yes NFC, and crypto-coins.

deleted 4y ago
[deleted]

seydor 4y ago

... or the price of the world's most capitalized company

tengbretson 4y ago

If you're a billionaire you don't even have to buy the billboards. You just get invited onto SNL.