Quote from: revans on November 17, 2013, 10:36:41 PM

Quote from: batcoin on November 17, 2013, 10:29:40 PM

Quote from: revans on November 17, 2013, 07:19:22 PM

At best the Chinese are doing what everyone else in the bubble is doing; buy Bitcoins in the hope they make a profit. It is not adoption as a currency.

At worst, well I have a paper I'm finishing on this topic. Synopsis: The Bitcoin 'exchanges' and the 'market' they supposedly create are a fraud. Price action is driven by non existent trades on the platforms. The manipulation is now so rampant across competing exchanges that the entire legitimate trading activity of the exchanges is drowned by a sea of fakery. There isn't a single exchange I examined for this research that isn't engaged in this activity.

Do you have any bitcoins? If the exchanges are supposed to be providing fraudulent prices then how much would you say 1 BTC should go for? I may be interested in obtaining some from you. Maybe we could form our own exchange together and broadcast the REAL price to all of the internet. Maybe our real exchange with real prices will set all the others straight.

i do get tired of repeating this, pehaps I should put it in a signature.

I sold all my Bitcoins at 200ish and donated the resultant fiat to good causes. I did not get involved with Bitcoin to make money for doing nothing, I was interested in a genuine alternative currency model, not the speculation which has taken over.

So because there are speculators in bitcoin driving up the price you aren't for bitcoin? Did I misunderstand this?

To be honest, until you prove you donated your fiat from those exchanged coins to good causes, it is basically the cheapest commodity to date (pretty much): TALK.

I've learned one huge truth in life, is that TALK IS CHEAP.