Post
Topic
Board Speculation
Re: "There can be only 21,000,000 bitcoins" is myth => How to secure the blockchain?
by
Littleshop
on 14/04/2013, 00:42:22 UTC
u think, gox is a ponzi?

[1] Wait for a lot of bid orders
[2] Sell phantom bitcoins
[3] Press [Lag] button
[4] Wait for a lot of ask orders at lower price
[5] Buy phantom bitcoins back
[6] Go to #1
This may be happening but it most certainly is not the owners of gox doing it.

Anyone can do this with real bitcoins or dollars. Pressing the lag button is just turning on a botnet.  Sell 1000 BTC, turn on botnet.  Buy back 1500. Repeat.