Quote:
Originally Posted by DWB
Ouch. This is a huge weakness in btc and will ultimately help lead to its failure unless they can prevent this from happening over and over and over again. A real investor with real money isn't going to mess with something that kids can manipulate every week. Something like this is exactly the sort of thing that can stop it from becoming used by everyone.
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Sounds very similar to the way the stock markets are manipulated
Quote:
Originally Posted by DWB
100% correct. The difference is, big investors (along with the Gov / Wall Street) are the ones who manipulate the real markets. Kids and hackers are manipulating bitcoin, and that will keep away big investors. If I had to choose between a Wall Street or billionaire manipulated market vs a group of Russian hackers and script kiddies, I'm choosing Wall Street. I at least know there will be a tomorrow with Wall Street.
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The way I see it, for now the hackers and script kiddies will manipulate this market and then once Wall Street get involved then it'll be back to status quo
Quote:
Originally Posted by dyna mo
And i want to be on this side of the investment window with my little handful of btc when they start fucking with the puppet strings.
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Was hoping that would be a few months away
Quote:
Originally Posted by DWB
Though, how do you figure that will change reliance on exchanges? ATMs for cash are all over the world and they have nothing to do with exchange rates. It just provides more convenience for getting and depositing money.
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I tend to side with your opinion DWB that governments will have put an end to Bitcoin long before ATMs for Bitcoin are implemented.