[tor-talk] US Senators Seek to Crackdown on Bitcoin

[Shew]

Sorry for continuing an off topic discussion, but if your interested in
the instability of Bitcoin, I recently did an in-depth analysis of some
of the recent market behavior. You can find it here:

The Bitcoin Bubble
http://xqz3u5drneuzhaeo.onion/users/shew2/decentralization/20110615-the-bitcoin-bubble.php

On Thu, 16 Jun 2011 05:40:27 +0200
andre76 at fastmail.fm wrote:

> Bitcoin is a scam.  Money or value can't be created on a computer
> (unless you consider the phoney fiat currency of the USD "money").  At
> best bitcoin is a ponzi scheme where the initial holders of the digital
> money get to see the increase in the computer value of the bitcoins they
> "own" only to, at the right time, dump them onto suckers that got in the
> this new fangled trickery at the end.  Those that hold bitcoins at the
> end will be at a loss as in reality, they're worth nothing.  Bitcoins
> are a classic example of the Wall Street method of Pump and Dump.  Fake
> or unrealistic information is circulated around the web about a certain
> stock and how it's to perform which is always UP UP UP in value.  This
> is the Pump phase.  The unsuspecting and gulible public rushes in to
> purchase massive amounts of the (really) junk stock.  The price rises
> dramaticly.  Those that promoted the stock then Dump it....fast.  They
> make their profit and the dummies that believed the junk about how great
> the equity was get stuck with a loss as the stock plummets.  

-- 
Shew

-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: application/pgp-signature
Size: 801 bytes
Desc: not available
URL: <http://lists.torproject.org/pipermail/tor-talk/attachments/20110616/9bdb6f2e/attachment.pgp>