Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
PoolMinor
on 30/11/2018, 22:05:50 UTC
Hint -- What drives the price of diamonds?

My first guess would be hats...a perfect correlation (to the downside: as hats increase on WO, the price of btc decrease world-wide).

Re hint...De Beers & Russia?

Great!
How is the price of diamonds controlled? If close to one entity holds a commodity then they can control the market price via artificial scarcity.
Whereas BTC may have both, a patterned scarcity and a controlled scarcity.
The year of 2013 BTC saw 2 major price rises, 2017 saw 4 major price rises.