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Board Beginners & Help
Re: Reason for current Bitcoin crash
by
the_thing
on 19/08/2012, 22:18:51 UTC
pirate@40 plan seems not a ponzi but a very succesful way to influence the btc exchange rate by taking the coin out of the exchanges and sitting on them. the price will return to where it was before pirate@40 started to take large quantities of coins out of the market. as the coins are put back into the market and back on to exchanges price will return to where it was when BCST started.
wrong. less bitcoins mean higher price. thus, if he took large quantities out of the market (as you claim), the price would go higher. if he gave them back, the price would fall.