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Thread: Bitcoin $4000+

  1. #21
    Bitcoin Miner Ares's Avatar
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    Re: Bitcoin $4000+

    Quote Originally Posted by jcismylord View Post
    the fees are small

    so, if not fees and taxes, what otherwise prevents "selling" large sums of BTCs to a bunch of your own "sockpuppet" wallets with the goal of manipulating the price?

    I am not pretending to be an expert. Just asking.
    Nothing honestly, and has been done before I've seen it at btc-e used by the whales to manipulate the price in the short term. Someone did that at OKCoin (former Chinese exchange which had 90% of trading volume of all Bitcoin trades at one point). Someone coded a bot to trade against that whale and ended up taking almost all of that persons Bitcoin before they pulled the order. They'll learn an expensive lesson when trading against hackers.
    "Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
    "The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
    "Some Libertarians are born, the government makes the rest."
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  2. #22
    Iridium Hitch's Avatar
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    Re: Bitcoin $4000+

    Quote Originally Posted by madfranks View Post
    Good points, but think about this. 1-2 million BTC may be all that is actively traded right now, but as the BTC price hits $20k, $50k, $100k, etc. there will be plenty of folks who sell to take profit, increasing the supply being traded in the market. If 5 million BTC are available to trade in the market, that's still a market cap of 5 trillion. That's a market value higher than many governments of the world.
    It makes me think the governments might be the one's pushing up bitcoins price. The question really hasn't been answered...where is all the money going into bitcoin coming from? The average american person is living paycheck to paycheck, especially the young folks who are the most likely to buy bitcoin. The older folks, who have more wealth, are less prone to the risk of such a thing.

    Also, when everyone starts dumping bitcoin and taking profits, it's value is going to crash, hard. The number of crypto currencies that can be created is really unlimited, it's just which ever one is the most popular will be the most valuable.
    life is good.

  3. #23
    .999 Unobtanium Horn's Avatar
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    Re: Bitcoin $4000+

    "Also, when everyone starts dumping bitcoin and taking profits, it's value is going to crash, hard."

    Which negates its root definition as a "currency"

    No liquido, turns it into a lottery.

    Governments love lottery winnings.

  4. #24
    Iridium Hitch's Avatar
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    Re: Bitcoin $4000+

    Quote Originally Posted by Horn View Post

    Governments love lottery winnings.
    They will likely win this one. Bitcoin, and all crypto currencies are a threat to governments, and big banks. What's the best way to destroy bitcoin? Kill the confidence. Crash it. Drive the price up to insane levels, dump all the coins, and crash the price.

    I would not put it past .gov and it's minion banks to scheme such a thing. Destroy confidence in cryptos and they win. The average person is priced out of bitcoin, as it stands. All that's left to win this battle is the death blow. It's coming.

    Remember, wealth is not lost, it just transfers hands.
    life is good.

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    Horn (8th December 2017)

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