Quote from: r0ach on June 22, 2016, 02:59:47 AM

The DOA event caused a dumpocalypse on them forcing them to absorb even more losses. This single entity that controls the ETh price is underwater as fuck now and probably desperate to rid himself of some of those scamtokens. I have a feeling the only reason it made it that high of value in the first place is the Eth devs themselves sent a bunch of Eth to Poloniex, then used those coins for collateral to margin long it to the moon while liquidating shoters. Dan Larimer actually talked about attempting doing that himself once in the past when BTS was in the dumpster but he chickened out. Him and Vitalik have been speaking a bit these days and maybe he gave Vitalik the idea.

Popsicle and you speak the same truth:

http://btcbase.org/log/2016-06-23#1487653

felipelalli: mircea_popescu: why they are so distance from the reality? They continue to buy this shit.
mircea_popescu: who "they" ?
felipelalli: ethereum community
mircea_popescu: think for a moment how a shitshow like poloniex works. you make 1mn scamtokens out of thin air. you send them to a "margined" "exchange" website. you use the "margin" 1mn scamtokens provide to... buy 1mn more! now you have enough "marginable assets" ie scamtokens to... buy 1mn more! and if the price goes up... 1mn more!
mircea_popescu: soon enough you're sitting on an account that is still worth the 0 it was worth to begin with, except that has also bought 10x to 100x of the same scamtokens. so... "they are buying" ? yeah, sure. and paying with what ?
felipelalli: mircea_popescu: true.
mircea_popescu: with any luck someone actually sends actual bitcoin to either "buy" the stuff to "mommentum trade" or else you know "short it". either way it's a win - your 0 value scamcoin attracted some actual money!
felipelalli: and a "premined" coin (dev coins) is easy to inflate the final marketcap: I just create 1`000`000`000`000`000`000 coins and sell to my mum at $ 0.01
felipelalli: the same as Ripple
felipelalli: mircea_popescu: what time is it in Argentina?? It's late, isn't? Here is 5 AM.
mircea_popescu: same.
felipelalli: are you waking up or haven't you sleep yet? lol
BingoBoingo: He's just back from enjoying the vibrant local nightlife
mircea_popescu: i'm on the tail end of an orgy.