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EuroTrash (OP)
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November 18, 2013, 05:28:48 PM |
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... to prove the point to the Senate that bitcoins are just funny money.
Thoughts?
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<=== INSERT SMART SIGNATURE HERE ===>
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Crazy
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November 18, 2013, 05:30:52 PM |
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I've had some conspiracy theories as well. That's possible of course; anything is though. One theory I had was China is coordinating a pump and dump to destroy the currency since no other govt has had the balls to do it yet.
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Elon Krusky
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NUFCrichard
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Activity: 1218
Merit: 1003
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November 18, 2013, 05:32:39 PM |
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Why would china want to destroy bitcoin, they want a less usd based world economy...
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Crazy
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November 18, 2013, 05:34:18 PM |
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Why would china want to destroy bitcoin, they want a less usd based world economy...
They do? They hold a lot of our debt and we buy a shit ton of their exports, why would they want to destroy our currency? China would not support anything they can't control, that's just my opinion. |
Elon Krusky
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dopamine
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November 18, 2013, 05:34:26 PM |
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Maybe no pull back and 1 to 1 ratio with gold and then double from there because bitcoins are alot easier to transfer.
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Bitcoinica still has not given me 50% of my claim of 600 BTC
INTERSANGO can go down with bitcoinica for abandoning customers
Alberto Armandi is a SCAMMER
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piramida
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Borsche
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November 18, 2013, 05:37:51 PM |
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"Hey look people pay 1 grand for the funny money"? I don't think it's very convincing.
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i am satoshi
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Crazy
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November 18, 2013, 05:39:11 PM |
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"Hey look people pay 1 grand for the funny money"? I don't think it's very convincing.
What's that supposed to mean? |
Elon Krusky
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EuroTrash (OP)
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November 18, 2013, 05:45:23 PM |
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Maybe the Chinese traders, favoured by having no fees on BTCChina, are trying to outsmart the market and perform the pump and dump en masse...
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piramida
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Activity: 1176
Merit: 1010
Borsche
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November 18, 2013, 05:47:39 PM |
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"Hey look people pay 1 grand for the funny money"? I don't think it's very convincing.
What's that supposed to mean? that was a reply to OP. pumping price of funny money is not the best way to make it look funnier. |
i am satoshi
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Crazy
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November 18, 2013, 05:49:08 PM |
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that was a reply to OP. pumping price of funny money is not the best way to make it look funnier.
I think he meant it'll be dumped, as well. The subsequent ridicule of something going from $150 to $1000 then down to those same levels or lower... their point about "funny money" would be made with ease. |
Elon Krusky
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Rygon
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November 18, 2013, 05:49:17 PM |
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It's probably a mega pump and dump. Some of us could benefit though from guessing the right timing. I'm calling $750 before the end of the week, then a correction to $300 over the weekend.
Based on nothing remotely technical, lol.
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Raoul Duke
aka psy
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November 18, 2013, 05:54:18 PM |
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Why would china want to destroy bitcoin, they want a less usd based world economy...
They do? They hold a lot of our debt and we buy a shit ton of their exports, why would they want to destroy our currency? To have you americans grabbed by the balls. If you can't pay, China owns you. Welcome your new overlords, 'muricans. We already welcomed them here in Portugal  |
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piramida
Legendary
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Merit: 1010
Borsche
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November 18, 2013, 05:57:26 PM |
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that was a reply to OP. pumping price of funny money is not the best way to make it look funnier.
I think he meant it'll be dumped, as well. The subsequent ridicule of something going from $150 to $1000 then down to those same levels or lower... their point about "funny money" would be made with ease. I understand that, but the fact that somebody at some point in time paid that much would remain standing. Look at the press from $266 'bubble'. Highs are important, too, they give an upper bound for valuation. |
i am satoshi
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Crazy
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November 18, 2013, 06:04:18 PM |
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I understand that, but the fact that somebody at some point in time paid that much would remain standing. Look at the press from $266 'bubble'. Highs are important, too, they give an upper bound for valuation.
I think at that point it becomes irrelevant? I don't think it matters that Madoff got $X amount of money. |
Elon Krusky
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RodeoX
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The revolution will be monetized!
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November 18, 2013, 06:12:00 PM |
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Doesn't seem logical to me. Who would spend millions of dollars to inflate the price of bitcoin, then throw it all away in the hope that maybe it will go back down when they sell?
The banks? No. Can you imagine what investors would say if they found the bank doing that with their money?
China? China wants to see a move away from the dollar. Bitcoin's success is in their interest. A crash may hurt Chinese bitcoin peers more than anyone else. They paid the most for their coins and they are the biggest consumers of BTC.
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Crazy
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November 18, 2013, 06:20:10 PM |
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China? China wants to see a move away from the dollar. Bitcoin's success is in their interest. A crash may hurt Chinese bitcoin peers more than anyone else. They paid the most for their coins and they are the biggest consumers of BTC.
We're talking about the Chinese govt, not the people. Not sure why everyone thinks China would support BTC. They manipulate everything in their economy and you think they'd like having some sovereign/autonomous currency that their citizens can opt to use over their national currency? And China has a huge position in USD, they do not want to see it go down. |
Elon Krusky
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Nemesis
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November 18, 2013, 06:25:54 PM |
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China? China wants to see a move away from the dollar. Bitcoin's success is in their interest. A crash may hurt Chinese bitcoin peers more than anyone else. They paid the most for their coins and they are the biggest consumers of BTC.
We're talking about the Chinese govt, not the people. Not sure why everyone thinks China would support BTC. They manipulate everything in their economy and you think they'd like having some sovereign/autonomous currency that their citizens can opt to use over their national currency? And China has a huge position in USD, they do not want to see it go down. The stupid assumption you made is that... Btc compete with USD currency. Why ppl are still making this stupid assumption? that bitcoin's success will doom the USD currency?  |
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Crazy
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November 18, 2013, 06:26:39 PM |
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When did I make that assumption?
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Elon Krusky
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BitchicksHusband
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November 18, 2013, 06:27:25 PM |
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China? China wants to see a move away from the dollar. Bitcoin's success is in their interest. A crash may hurt Chinese bitcoin peers more than anyone else. They paid the most for their coins and they are the biggest consumers of BTC.
We're talking about the Chinese govt, not the people. Not sure why everyone thinks China would support BTC. They manipulate everything in their economy and you think they'd like having some sovereign/autonomous currency that their citizens can opt to use over their national currency? And China has a huge position in USD, they do not want to see it go down. The Chinese citizens have a ton of money and nowhere to invest it. They build cities full of empty apartment buildings and malls that nobody will ever use just to invest their money. Bitcoin is now accepted by the government because the money's not going to a foreign country (especially USA). |
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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geraFoerra
Member
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Activity: 116
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November 18, 2013, 06:29:54 PM |
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I've had some conspiracy theories as well. That's possible of course; anything is though. One theory I had was China is coordinating a pump and dump to destroy the currency since no other govt has had the balls to do it yet.
Your right, but China govt does not care about Bitcoin now, Bitcoin is far from thread to any currency now. It is real China people who putting money to Bitcoin, no govt |
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