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Let's be real. Nobody knows anything for sure. People who like Bitcoin will deny this. People who hate Bitcoin will use this as confirmation bias. /thread

jqpabc123 4y ago
Nobody knows anything for sure. We know for sure that "bad behavior" is fairly common in this unregulated "marketplace". If it's easy and possible and profitable, someone is going to do it. This alone is sufficient to deter a lot of sensible investors.
- logicalmonster 4y ago
  The so-called regulated marketplace only has a thin veneer of propriety. Naked short selling is rampant, many financial statistics are entirely self-reported with barely a slap on the wrist for intentional fabrications, market makers have privileges to manipulate the price that normal folks don't have access to, etc. And one time the plebs got one over on the financial class (the GME thing) they literally "shut it down".
  - mrguyorama 4y ago
    >And one time the plebs got one over on the financial class (the GME thing) they literally "shut it down". That's not what happened. Robinhood (and a couple others) weren't prepared for a stock with no fundamentals to be bought by everyone, so they didn't have the collateral for it that was required.
    - andirk 4y ago
      It wasn't as nefarious as it seemed at first, but the fact is the systems of investment currently in place do not allow for plebs to manipulate it in their favor. I was only an observer rooting for the common man, but I still have a difficult time seeing Robin Hood as a useful tool when they were not able to execute basic buying of an EFT on an open market.
    - logicalmonster 4y ago
      "Your honor, my client didn't throw Joe out of the window, he merely defenestrated him at high velocity." "Oh I see. That's totally different. Case dismissed."
    - kayamon 4y ago
      How did they not have the collateral? The customers money is the collateral.

jqpabc123 4y ago

Nobody knows anything for sure. We know for sure that "bad behavior" is fairly common in this unregulated "marketplace". If it's easy and possible and profitable, someone is going to do it. This alone is sufficient to deter a lot of sensible investors.

logicalmonster 4y ago
The so-called regulated marketplace only has a thin veneer of propriety. Naked short selling is rampant, many financial statistics are entirely self-reported with barely a slap on the wrist for intentional fabrications, market makers have privileges to manipulate the price that normal folks don't have access to, etc. And one time the plebs got one over on the financial class (the GME thing) they literally "shut it down".
- mrguyorama 4y ago
  >And one time the plebs got one over on the financial class (the GME thing) they literally "shut it down". That's not what happened. Robinhood (and a couple others) weren't prepared for a stock with no fundamentals to be bought by everyone, so they didn't have the collateral for it that was required.
  - andirk 4y ago
    It wasn't as nefarious as it seemed at first, but the fact is the systems of investment currently in place do not allow for plebs to manipulate it in their favor. I was only an observer rooting for the common man, but I still have a difficult time seeing Robin Hood as a useful tool when they were not able to execute basic buying of an EFT on an open market.
  - logicalmonster 4y ago
    "Your honor, my client didn't throw Joe out of the window, he merely defenestrated him at high velocity." "Oh I see. That's totally different. Case dismissed."
  - kayamon 4y ago
    How did they not have the collateral? The customers money is the collateral.