This rally is a pirate bubble

[cbeast]

I don't get it. People invest Bitcoin with Pirate. If he sells the Bitcoin it drives the price down, how does he drive the price up without using his own money? Is there a new leveraged short-selling exchange?

[1715628398]

1715628398

[ElectricMucus]

I don't get it. People invest Bitcoin with Pirate. If he sells the Bitcoin it drives the price down, how does he drive the price up without using his own money? Is there a new leveraged short-selling exchange?

There are several, but none as big as bitcoinica was and certainly not enough to take a volume pirate would need.

There isn't as much to get about it, people buy BTC in order to give them to pirate. He accumulates them and pays out interest. If it is a straight Ponzi it makes sense the price is going up before the default.

[smoothie]

I don't get it. People invest Bitcoin with Pirate. If he sells the Bitcoin it drives the price down, how does he drive the price up without using his own money? Is there a new leveraged short-selling exchange?

We all know that if it isn't already being done it will be done in the future (pirate buying bitcoins on the open exchange).

So the price rising isn't a good thing if he needs to buy them on the open market. Then again he could be mining them through GPUMAX etc.

[smoothie]

I don't get it. People invest Bitcoin with Pirate. If he sells the Bitcoin it drives the price down, how does he drive the price up without using his own money? Is there a new leveraged short-selling exchange?

There are several, but none as big as bitcoinica was and certainly not enough to take a volume pirate would need.

There isn't as much to get about it, people buy BTC in order to give them to pirate. He accumulates them and pays out interest. If it is a straight Ponzi it makes sense the price is going up before the default.

Agreed. If everyone bought bitcoin and invested with pirate (which I believe is true on a larger scale than people realize) the price has to rise. Pirate can only get bitcoins from three different places:

1. new investors

2. mining them

3. buying them

[thebaron]

1) Discover way to get a shitload of cash
2) Make a run of your own FPGA boards in China to mine on a massive scale and then pay some hackers to DDoS the major mining pools.
3) ...
4) Profit.

[kentrolla]

this

[mobodick]

1) Discover way to get a shitload of cash
2) Retire

There, fixed that for you...