

Was the Bitcoin Flock Just Sheared? - rrrrtttt
http://streetwiseprofessor.com/?p=7183

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lucb1e
Can't read this on my phone. Hate it when sites think they're better than five
years of smartphone development and their site is superior enough not to need
zoom. Also wish there was a way to override the no-zoom tag; you'd think at
least Mozilla's browser would feature that.

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dubfan
It's not much better on a desktop. The background interferes with the text
color, making it very difficult to read without highlighting the text.

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rodgerd
I gritted by teeth and tried to ignore it, but I just can't help myself: the
past tense of shear is shorn.

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chmike
There is more to this to diagnose a pump and dump. According to these
criterias, the internet bubble of 2000 would have been recognized as a pump
and dump too.

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gu
There are quite a few people who hold exactly that opinion. For instance,
check out _Alex Berenson's The Number: How the Drive for Quarterly Earnings
Corrupted Wall Street and Corporate America_ , or read any "alternative"
financial blog, and this line of reasoning might start to make at least some
sense.

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cheeze
That is a seriously bad background

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sachingulaya
The price per BTC was set back by 1 week.

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brazzy
If you assume the absurd growth just before the peak is "normal". It took over
a year to get back to the 2011 peak, after going down much more than the
first, sudden collapse.

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jhales
Why is this on the front page of HN? This is just uninformed ramblings with a
reference to an article (Krugman) contain similarly uniformed ramblings.

It just seems lazily uniformed. I doubt he even bothered to actually
investigate and corroborate his pump and dump claims, into instead of
spreading FUD. If he did, one would think he would have mentioned the alleged
DDOS'ing of the exchanges etc. which are widely speculated (even among the
'true believers') to be part of a market manipulation scheme.

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brazzy
But it has a cute title!

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yuvadam
Sure, let's discuss things no one seems to be talking about.

How is pump-and-dump even possible in an ecosystem such as Bitcoin?

Pumping is easy, sure, just load heaps of cash into all exchanges, buy every
single wall that is put up, price explodes. But how is the pump-and-dumper
supposed to get her money out when she decides to dump? All exchanges have a
hard limit on how much cash they can divulge on each given day.

This is an impossible scenario with Bitcoin, as it is today.

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dragontamer
How hard is it to setup multiple accounts on Mt. Gox using Tor?

300 accounts would give you access to $3 Million USD. And Mt. Gox has a simple
API that you could coordinate all of your accounts together.

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argonaut
According to Mt. Gox, users of Tor are subject to having to submit additional
anti-money laundering documentation.

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lurkinggrue
I am moving all my bitcoins into pogs. I understand pogs are back.

