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Other currency markets are millions of times larger than bitcoin. The entire bitcoin market could be cornered and manipulated by a single modestly wealthy indiv
by vannevar 14y ago
Other currency markets are millions of times larger than bitcoin. The entire bitcoin market could be cornered and manipulated by a single modestly wealthy individual.
- DodgyEggplant 14y agoThat's correct. My point is that the original theory of exchange rates had to do with "natural" demand and supply. If a country produces great cheese, and you want to buy that cheese, demand for the currency to buy that cheese is up. This does not apply any more, and many financial markets have little to do with real economic utility. Alas, when gravity hits - and it always does - people are still shocked.