Bitcoin for Dummies

[Keepthecash]

I've been watching curiously the crypto phenomena

If you have many billions of dollars you can make a healthy profit on bitcoin
Sell big and the price starts moving downwards
Buy big and the price starts to move upwards
Sit on fluctuations and transact at the best time, generally when the trend reaches a plaeteau

With a 100% to 300% swing, you are making a killing of millions of $$ at the expense of others.
The losers are small time investors who don't influence pricing, panic and sell when price starts to drop.

There is no tangible support (eg new technologies, scientific breakthroughs, strong management, discovered commodity resources) for this type of 'stock'.
It is pure speculation and hype.

Hats off to the geniuses behind this clever legal money making scheme.
They are maximising profits and laughing all the way to the bank, driving in the Nakamoto armoured vehicle.
Small players are donating part of their savings every day.

Wake up!

[CryptoJoshua]

I don't think a few million dollars would even shift the price by a little when the daily trading volume is in the Billions.

[Keepthecash]

Agree. Some investors have that kind of money
They would have started in the millions though

[Drunkenhorse]

When you make millions the biggest question appears is - How to withdraw that bitcoin into fiat without loosing money for taxes?

[Tipestry]

Volume was about $8 billion USD today. You couldn't budge the price with a few million dollars.

If anyone wants to see this in action, on GDAX there's real time stream of trades. Most orders are only for a relatively small amount of money but you also frequently see larger multi million dollar bids and asks go through without affecting the price, and that's just on one exchange.

[pentol86]

sounds like you very hate bitcoin scheme, or you are a losser, just because your profit is small and then now you interesting some people by your statement

[Keepthecash]

The real 'losser' seems to spend all their day on the site and should get a life