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Title: Why hasn't this happened yet? Post by: BitLucky on October 20, 2012, 09:38:47 PM The CEO of a well known company:
1) Buys a shit load of bitcoin. 2) Announces plans to accept bitcoin payments (or something similar). Bitcoin price subsequently rises (hype). 3) Sells a shit load of bitcoin. Title: Re: Why hasn't this happened yet? Post by: nobbynobbynoob on October 20, 2012, 09:42:45 PM Just good business sense. Just good old vulture capitalism. :)
Title: Re: Why hasn't this happened yet? Post by: enquirer on October 20, 2012, 09:44:29 PM The CEO of a well known company: 1) Buys a shit load of bitcoin. 2) Announces plans to accept bitcoin payments (or something similar). Bitcoin price subsequently rises (hype). 3) Sells a shit load of bitcoin. 4) Gets fired 5) goes to jail Title: Re: Why hasn't this happened yet? Post by: repentance on October 20, 2012, 10:20:44 PM It's probably exactly what will happen if people persuade Kim Dotcom to accept Bitcoin. Be careful what you wish for people.
Title: Re: Why hasn't this happened yet? Post by: moni3z on October 20, 2012, 11:06:58 PM Better question why hasn't anybody with 1 million + bitcoins started a commodity fund on the NYSE, TSX or other exchange. That's how gold and other commodities are traded and price determined. Would remove lot's of market manipulation if traded like every other commodity though then you'd be trusting wall street T Boone Pickens hacks to not screw us all over, but at least there would be transparency and some sort of regulation to prevent a big trader on Gox doing whatever they wanted
Title: Re: Why hasn't this happened yet? Post by: MoonShadow on October 20, 2012, 11:16:23 PM Better question why hasn't anybody with 1 million + bitcoins started a commodity fund on the NYSE, TSX or other exchange. That's how gold and other commodities are traded and price determined. Would remove lot's of market manipulation if traded like every other commodity though then you'd be trusting wall street T Boone Pickens hacks to not screw us all over, but at least there would be transparency and some sort of regulation to prevent a big trader on Gox doing whatever they wanted I'd seriously doubt that there is any single person that has 1 million+ bitcoins, and if there were, it'd be Satoshi. And I certainly don't see Satoshi having anything to do with the normal financial systems. As for why hasn't some billionare bought up gobs of bitcoin with the intent of pumping & dumping? First off, pumping & dumping is illegal. Second, billionares tend to prefer their own reputations to remain as publicly clean as possible. And finally, how do you know that some billionare hasn't been buying gobs of bitcoin? Title: Re: Why hasn't this happened yet? Post by: Stephen Gornick on October 21, 2012, 12:08:43 AM And finally, how do you know that some billionare hasn't been buying gobs of bitcoin? Because billioinaires hate Bitcoin! Billionaires have billions because bankers can cheat. Bitcoins end cheating. QED. Cheating billionaires hate people having bitcoins. It took me just fifteen minutes of listening to Bill Gates on Charlie Rose to confirm that billionaires don't and won't like BItcoin. Mr. Gates throws around a lot of "we did this" type of statements, and what he really means is "we used our power to get governments to do this". I'm not saying the accomplishments were bad, but anything that lessen's a billionaire's influence will not be something the billionaires will support. Title: Re: Why hasn't this happened yet? Post by: MoonShadow on October 21, 2012, 12:20:57 AM And finally, how do you know that some billionare hasn't been buying gobs of bitcoin? Because billioinaires hate Bitcoin! Don't assume this applies to all of them. I'm fairly confident that Peter Thiel would find bitcoin intriguing, since it is pretty much what he was trying to do when he founded Paypal. EDIT: And it's fairly well established now that Steve Jobs hated government intrusion into his business. |