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So a form of arbitrage against Bitcoin may be to create your own cryptocurrency, mint a few million of them for yourself, hype it on HN, then cash out and profi

by exelius 13y ago

So a form of arbitrage against Bitcoin may be to create your own cryptocurrency, mint a few million of them for yourself, hype it on HN, then cash out and profit? Sounds like a classic pump-and-dump junk bond scam, to me.

zevyoura 13y ago
This is called premining and it's a common accusation towards new altcoins.
waterlesscloud 13y ago
The alt-coin mini-bubble of November '13 started a flood of precisely this activity. It existed before, but it really took off then. I'm reasonably sure dogecoin started out that way, but somehow took on a life of its own. I'm also pretty sure the November bubble was just a taste of an altcoin bubble explosion to come.