[tor-talk] US Senators Seek to Crackdown on Bitcoin
Shew
shew09642 at rambler.ru
Thu Jun 16 12:21:26 PDT 2011
Sorry for continuing an off topic discussion, but if your interested in
the instability of Bitcoin, I recently did an in-depth analysis of some
of the recent market behavior. You can find it here:
The Bitcoin Bubble
http://xqz3u5drneuzhaeo.onion/users/shew2/decentralization/20110615-the-bitcoin-bubble.php
On Thu, 16 Jun 2011 05:40:27 +0200
andre76 at fastmail.fm wrote:
> Bitcoin is a scam. Money or value can't be created on a computer
> (unless you consider the phoney fiat currency of the USD "money"). At
> best bitcoin is a ponzi scheme where the initial holders of the digital
> money get to see the increase in the computer value of the bitcoins they
> "own" only to, at the right time, dump them onto suckers that got in the
> this new fangled trickery at the end. Those that hold bitcoins at the
> end will be at a loss as in reality, they're worth nothing. Bitcoins
> are a classic example of the Wall Street method of Pump and Dump. Fake
> or unrealistic information is circulated around the web about a certain
> stock and how it's to perform which is always UP UP UP in value. This
> is the Pump phase. The unsuspecting and gulible public rushes in to
> purchase massive amounts of the (really) junk stock. The price rises
> dramaticly. Those that promoted the stock then Dump it....fast. They
> make their profit and the dummies that believed the junk about how great
> the equity was get stuck with a loss as the stock plummets.
--
Shew
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