Bitcoin Forum

When Enron got in trouble, they banned selling of the stock for its employees, millions of people lost their life savings, as they had convinced familys and friends to buy ENRON stock 2 for 1, ...

Enron had bought up power plants and regional goverment power monopolys on a frenzy all over the usa, but they got busted and stock fell back to earth, and the people who worked for Enron and their family's and friends were first told "DONT SELL, HODL", then they were told they couldn't sell, so they just watched their life saving go all the way to zero.

Enron had issued its own employees a type of stock that couldn't be sold on the market, thus they just watched their life savings evaporate, and there was nothing they could do.

Same now I suspect in the near future the 'exchanges' will tell the HODL'ers that they can't sell for their own good.

More things change, the more they remain the same, since 2014 bitcoin, a nerd liberatarian payment system, became a paradise for criminals, and the criminals were able to convince the suckers to "HODL your losses",

INSANE

First they tell you not to sell, to HODL; Then they tell you that you  can't sell; Then "THEY" disappear on their yachts.

Enron was a corporation with corrupt CEOs, they were lying to their employees and shareholders. Kenneth Lay was an extremely trusted public figure, who is a trustworthy public figure in Bitcoin?

the bitcoin network is not one entity. yes there is one group that decide the rules of the protocol due to peoples foolish trust that on group should develop the nodes and treat any other software as enemy.. which is sparking a weakness to the decentralised concept. but as for the holdings. they are not stuck in a groups control.

everyone has a copy of the ledger and their privatekey.
the private key is not a password to a server.
there is no bitcoin server.

even if all the exchanges that are just businesses that work as separate entities shut down people can still OTC trade, local face to face trade

people like the OP need to wake up that bitcoin is not exchanges and exchanges are not bitcoin.  
mixing exchanges and bitcoin to presume they are one and the same is foolishly like saying a retail store is the dollar
"OMG if walmart shut down the dollar is untradable"

nope. although you can use a business to swap currency for something else. doesnt mean if a retailer disappears so does the whole currency.
yea some people that deposit funds into the businesses address would lose the self control of the funds and if that business shut down getting them out is next to impossible with a immoral business.. but bitcoin is not reliant on an exchange
people should become less reliant on letting businesses hold their funds

all the coins in circulation are not suck in an exchange. the coins are not shares of an exchange. so the comparison to enron is wrong on many levels

Enron went bust because of poor and corrupt business decisions by senior management at the company. Bitcoin is not a company and does not work on the same premise, it does not have liabilities or anything of the sort and therefore it's a completely different situation.

BITCOIN is ran by exchanges, and pimps, and whores who 24/7 find gullible morons to buy btc on credit-cards with the promise riches to the moon.

The people running all the exchanges and entire in&out of bitcoin are all exactly like the people who ran Enron.

I think i can believe in everything in cryptocurrency business.. You should not listen anyone.. I am in this market from several years and i have seen many bad things. The people can be scammer easily so you should never trust anyone from here. With all my preventions i got scammed twice, i followed someone that he made me buy some coins and that was his shit coins but i couldn't realise.. And ones again someone made me buy Bitcoin Private from $70 and made me HODL.. Now price is less than $3.. When i think about the scammers i always ask to myself that  how can they get even sleep at nights??

Interesting theory,but I can't agree completely.It's true that nobody can stop the cryptocurrency exchange platforms to turn into exit scams and run away with our coins.I think that the best time for this is gone (last year's ATH) so no crypto exchange would steal coins with rapidly decreasing prices.The crypto exchanges want a bull market,they risk their entire business for some easy money.

actually. moral exchanges make money no matter what the price is. 0.3% of any price is still 0.3%

as for the historic exit scams. exchanges actually do run off when the price tanks.
this is because they take the BTC.
when the price tanks. people are buying coin. but there is not enough coin to then give to customers as a withdrawal
(MTGOX, cryptorush, mintpal, name them all. disappeared at the drop)

when the price goes up. many people are throwing coins at the exchange so they can get fiat. exchanges love to stay open when prices go up. they hate it when prices go down because people start withdrawing their coins.
which is why when a exchange is not moral and has taken the coin. there is not enough to supply customers. so the exchange has to make up lame excuses about being hacked or bad coding causing double spends

Same here, ENRON is different from Bitcoin. Bitcoin has worldwide reach, wherein anyone with IT understanding can do transact and use bitcoin. Demand is so high, and bitcoin has its own uses and continue to expand.As of now, more applications is being develop how to used it,  not limiting its uses.

Bitcoin looks poised to burst as it is just hitting its low point of inflection. Once it goes back up, I am confident the price will soar considering we are entering the December and ensuing Spring months. I would just invest more (https://www.smartbitcoininvestments.com/how-to-invest-in-bitcoin/) into it.

HOW can bitcoin soar? What is the basis for this??

New money comes from where?

Who in the hell is going to BUY bitcoin?

In 2017 all things came together idiots in USA, and chinese gamblers, ... everybody jumped, and now everybody got burned,

Who in the hell has money left to play this game?

Easy to say that NEW MORONS will suddenly appear with billions of USD to buy crypto-shit, but the reality is that parabolic-rises (DEC 2017) that are always followed by collapse (NOW), generally take 20-30 years for people to slowly come back and get screwed again ...

What's happening now is the clueless are hanging around HODL'ing hoping that a greater fool will appear, ... how many fools are left with CASH?? NADA

Whatever be the pros and cons, the merits and demerits, of either side in this debate; one thing is certain: the answer that ensures we will know for sure starts becoming apparent only circa 2020, 2021, 2022.

Until then, everything, on either side ("there are good people on both sides"!), is pure speculation. Also, until that final revelation of reality strikes home, nobody knows anything!

Exchanges are just one platform where bitcoins are bought and sold, so I cannot see how exchanges will stop people from selling their coins? We continuously tell people NOT to store their coins on exchanges, because they hand over control of their coins to these centralized services, but people continue doing that. If you have large amounts of coins stored on exchanges and something like this happens, then only you are to be blamed.

Keep 80% and more of your coins in long-term storage on cold storage like paper wallets or hardware wallets, where you have sole control over the private keys. If you follow this advice, then your coins will be safe in a scenario like this. <Which a seriously doubt will happen>  ::)

if you compare Bitcoin Blockchain with Corrupted Enron Governign Board - you really have some misconception about Bitcoin,

interesting but i am not agree with you bcz if exchange start trouble to sell bitcoin still there is a huge opportunity to sell.like otc and face to face market in local area. and another thing bitcoin is not enron.

Darn those pimps and whores, as if controlling the sex trade wasn't enough they now had to manipulate gullible morons in to buying bitcoin as well as sexual activities.

The people running the exchanges may be the same in many ways but the difference is that if their exchange goes under, bitcoin won't go with it. Whereas with Enron, once Enron went under then the shares were obviously worth nothing.

Shares of the company belonged to one person who could adjust their value at its discretion. When there is one owner - the company will be completely under manipulation. Bitcoin has a completely different story: here we see a decentralized structure, which does not have a specific owner and the price of which is regulated by completely different factors. So your example is not relevant here.

IMPOSSIBLE to say that BTC is broadly owned, some 90% of all mining is controlled by BITMAIN in CHINA.

51% consensus was destroyed years ago, BITCOIN is largely a pack of lies and urban-myths,

For every S-9 that BITMAIN sold back in the day, they held back 9 and mined for themselves when the difficulty was low, once the difficulty went high they release the miners to the west, now same for all crypt shit-coins as well, almost all the top-50 cap alt's now have miners sold by BITMAIN, which means that BITMAIN(CHINA-CP) owns the entire crypto space.

Some $700 BILLION in the past year has 'evaporated', however given that BITMAIN was the principal owner, that means they were the principal seller, so why is it that the OWNER of BITCOIN doesn't have to HODL, but the little morons are told to HODL??

Sorry to hear about your story which I find particularly depressing but apparently not an uncommon experience in crypto.   Can i ask how this individual you followed made you buy his shit coins?

Thanks for sharing.

Enron is about manipulation on their finance report and its about corruption. Different with bitcoin, its started to revolutionary payment system without have to trust on third party like banks. I am believe bitcoin have huge different with enron

I concur bitcoin 'started' just great, but then something 'WICKED' happened ( post 2014 ) when the Winkelvoss brothers stepped and made bitcoin in their own image,

The rest is just history.

The bitcoin parabolic rise of 2017 was about 'manipulation'

If you see or hear an orchestra, look for a conductor.

The corruption of BTC is BITMAIN, where they tell morons to HODL, while they as principal owners SELL.

Yep, a revolutionary payment system, that ended up charging $24 in fee's to buy a $2 cup of coffee. Great. :)

FYI, you can go any where today in Africa or Asia and buy cigarettes with you mobile phone ( no cost ), and you can top-up your phone credit with cash anywhere, Given that BTC takes up to a few hours for a 'verification' it will never be a payment system.

What BTC is what the CIA uses it for, to fund black-op operations.

How the little people can use BTC, is in times of civil-war, they can use it to move wealth A to B, but they don't leave their money there long, just a short time, YOU HODL, YOU LOSE.