Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

You're right, Bitcoin is actually more like a penny stock pump-and-dump scheme.


Except there doesn't appear to be a whole lot of dumping going on. I suspect the majority of Bitcoin investors are more interested in seeing how far Bitcoin can go rather than dumping all their coins the moment they've made a reasonable profit.


Yes, that is the interesting bit. A lot of people are not in Bitcoin for the money primary. They are hoarders or altruists.

Once some person tries to cash a $50,000 BTC account it will go down. The market depth is simply not there it seems. The money supply is not regulated vs. the trade volume, right?




Consider applying for YC's Winter 2026 batch! Applications are open till Nov 10

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: