Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
rpietila
on 29/11/2013, 10:07:05 UTC

They will probably come for bitcoin soon but manipulation will be much more difficult. They could buy lots of coins creating a spike and then dumping everything recklessly and crashing it, but I am not sure of their success.

I am quite sure. It will be an utter failure, mostly for the reason that bitcoin would become public to all, and no matter how much short term damage they can cause, it will not be able to be kept down for long because its real network value is 1000x the exchange value. Only way they could wreak some havoc is by buying all the way to up, I mean 10,000x the current price, and then dumping it to the masses. But even that would be a win to Bitcoin. Everybody would use it from that on, and people who trusted in banks would have been made poor, and the independent thinkers enriched.