I think you mean 'buy' in step three. That's the only way you can force the price up. You can only sell at higher and higher prices if there are already buyers who think the price is fair. You can't force anyone to buy.
But your plan relies on the Greater Fool Theory. There's no guarantee that people will panic and buy at the price you want when you dump your bitcoins.
Topic: Bitcoin: The Scamming - page 2. (Read 3369 times)
Congratulations you found the secret.
It's easy to think, after the fact, that you would have bought and sold at the right times. But there's no bell that goes off to let you know the market has hit the top or the bottom. It's a lot harder when you can only see the chart to the left and not the chart to the right.
As for trying to manipulate the market, you lose money when you do. You can only manipulate the market by buying high or selling low. And then everyone has the same opportunity to take advantage of the manipulated price, not just you. So you bear 100% of the costs of manipulation and get maybe 5% of the profits if you're lucky. And the profits are miniscule -- it's hard to push something away from its unmanipulated price and it takes very little to get it back there. So it always costs more than you expect and you make less than you expect, even before you take into account that you only get a tiny sliver of the "profits".
As for trying to manipulate the market, you lose money when you do. You can only manipulate the market by buying high or selling low. And then everyone has the same opportunity to take advantage of the manipulated price, not just you. So you bear 100% of the costs of manipulation and get maybe 5% of the profits if you're lucky. And the profits are miniscule -- it's hard to push something away from its unmanipulated price and it takes very little to get it back there. So it always costs more than you expect and you make less than you expect, even before you take into account that you only get a tiny sliver of the "profits".
So here I am reading my Economics books... and its hits me...
How to double my lifesavings.....
1. Buy 10,000 BTC at $10-12 prices 6 months ago
2. Create many many many many Wallets
3. Sell BTC and ever higher rates using the exchanges to inflate BTC value
4. Wait for something major to happen that causes a finical panic
5. Once inflated to where ever I SELL.... (since in theory I am controlling the market)
@$100 USD I just Made my savings go from 100k to 10mil... all in the span of 3 months BTC trading(better then a Ponzi scheme)?
6. Rinse and repeat
Can anyone tell me how this might be stopped? If this theory might be correct? Better ways to pull it off?
How to double my lifesavings.....
1. Buy 10,000 BTC at $10-12 prices 6 months ago
2. Create many many many many Wallets
3. Sell BTC and ever higher rates using the exchanges to inflate BTC value
4. Wait for something major to happen that causes a finical panic
5. Once inflated to where ever I SELL.... (since in theory I am controlling the market)
@$100 USD I just Made my savings go from 100k to 10mil... all in the span of 3 months BTC trading(better then a Ponzi scheme)?
6. Rinse and repeat
Can anyone tell me how this might be stopped? If this theory might be correct? Better ways to pull it off?
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