So here I am reading my Economics books... and its hits me...
How to double my lifesavings.....
1. Buy 10,000 BTC at $10-12 prices 6 months ago
2. Create many many many many Wallets
3. Sell BTC and ever higher rates using the exchanges to inflate BTC value
4. Wait for something major to happen that causes a finical panic
5. Once inflated to where ever I SELL.... (since in theory I am controlling the market)
@$100 USD I just Made my savings go from 100k to 10mil... all in the span of 3 months BTC trading(better then a Ponzi scheme)?
6. Rinse and repeat
Can anyone tell me how this might be stopped? If this theory might be correct? Better ways to pull it off?
Whilst I am sure their are entities or individuals who have made obscene profits from Bitcoin, I suspect that the overriding motivation of those with the power to shift this market in any direction they want like it was their bitch, is too discredit Bitcoin, give it a bad reputation in the mainstream, and even make it seem very unappealing amongst much of the fringe groups who actually use it (other than merely speculate in it). Possibly, the losses they may suffer in doing this, if indeed any at all, are utterly inconsequential to such an entity.