The "what if powerful interest bought all the Bitcoins" trope always gets pulled out when we're rallying like this. Its idiotic, because the people usually echoing this sentiment have no idea how real trading works. You don't get "free money" by buying something and then dumping it. There are transaction costs, fill slippage, your cost basis of your position (assuming you averaged in), and other factors.
Equally so when you decide to liquidate - what ends up happening is there's a cost 'burn' on both sides, and you'd never show any gains at all, while the actual traders of Bitcoin would love the hell out of the swings and make impressive gains.
But no, its supposed to be the "end" of Bitcoin if they do it.
Idiots.
Topic: 2013-11-20 beforeitsnews.com - Banksters Are Manipulating Bitcoin Too (Read 1145 times)
November 21, 2013, 01:49:03 PM
November 21, 2013, 10:51:05 AM
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Right but the manipulators look more like those 'protecting the US dollar and national security', the ESF and equivalents would be the most likely, bankster agencies but not banks directly. It's not that simple though, Bitcoin threatens plenty of big companies and there's also plenty of funds in the hands of others interested in protecting Bitcoin. It will probably be spectacular 
True that. It's not that I trust the banks, far from it. I just trust that their interest in bitcoin, me and everything else is money.
November 21, 2013, 12:40:45 AM
Bankers can only spend a bitcoin once , exactly like us....
the number of $ to buy a coin also increses for them , big dumps can be seen and ingnored etc etc...
no way this wil work on a trasparant blockchain.
the number of $ to buy a coin also increses for them , big dumps can be seen and ingnored etc etc...
no way this wil work on a trasparant blockchain.
November 20, 2013, 08:37:53 PM
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It's not that simple though, Bitcoin threatens plenty of big companies and there's also plenty of funds in the hands of others interested in protecting Bitcoin. It will probably be spectacular
The more I think about it, the more I like that the FBI, sitting on 144.000 Bitcoins, is on our side!
November 20, 2013, 07:19:16 PM
I do not concur with the article's bankster manipulation assumption.
But I very much like the "antifragile" comparison!
Antifragile: Things That Gain from Disorder
http://www.amazon.com/Antifragile-Things-That-Gain-Disorder/dp/1400067820/
But I very much like the "antifragile" comparison!
Antifragile: Things That Gain from Disorder
http://www.amazon.com/Antifragile-Things-That-Gain-Disorder/dp/1400067820/
November 20, 2013, 05:25:04 PM
I call BS on that first quote. Everyone thinks the "banksters" are out spending their money to crush bitcoin. That is not how you get rich. They are really out to profit from bitcoin.
November 20, 2013, 05:22:03 PM
didnt read it but the site seems quite shady.
November 20, 2013, 05:02:40 PM
Banksters Are Manipulating Bitcoin Too & and is it JFK Payback Time?
The article in essence:
I especially like this quote:
http://beforeitsnews.com/politics/2013/11/banksters-are-manipulating-bitcoin-too-and-is-it-jfk-payback-time_bix-weir-2572396.html
The article in essence:
Quote
Yes, the Banksters have computers that can rig even the Bitcoin markets! Don’t get me wrong, I think Bitcoin will rise to tens of thousands of dollars in the near future but it won’t be a smooth ride.
I especially like this quote:
Quote
But after every smash Bitcoin will become more and more “anti-fragile” so if you have a couple coins just hang on tight.
http://beforeitsnews.com/politics/2013/11/banksters-are-manipulating-bitcoin-too-and-is-it-jfk-payback-time_bix-weir-2572396.html
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