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<p>[QUOTE="medoraman, post: 1675257, member: 26302"]I do see bitcoins becoming popular, and have read how they have been going up so much. IDK, maybe I am just an old fogey, I just don't "get" it. Some people set up a computer algorithm to automatically generate X coins per month, and now all of a sudden these little floating bits of internet are going through the roof? Who is making all of the money on the new bitcoins? </p><p><br /></p><p>Sure sounds like something awfully manipulatable, like Swatch watches or something. If I were the one making all of the money for newly made bitcoins, wouldn't I have a HUGE interest in driving up perceived value of these things? And since they are anonymous, who would ever know I am the one driving up the market? The thing about markets, once you get them going upwards, lots of other "momentum investors" will help propel it higher and higher.</p><p><br /></p><p>Like I said, maybe I am just too old and cynical. Maybe I have just seen too many schemes in my life crash and burn.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1675257, member: 26302"]I do see bitcoins becoming popular, and have read how they have been going up so much. IDK, maybe I am just an old fogey, I just don't "get" it. Some people set up a computer algorithm to automatically generate X coins per month, and now all of a sudden these little floating bits of internet are going through the roof? Who is making all of the money on the new bitcoins? Sure sounds like something awfully manipulatable, like Swatch watches or something. If I were the one making all of the money for newly made bitcoins, wouldn't I have a HUGE interest in driving up perceived value of these things? And since they are anonymous, who would ever know I am the one driving up the market? The thing about markets, once you get them going upwards, lots of other "momentum investors" will help propel it higher and higher. Like I said, maybe I am just too old and cynical. Maybe I have just seen too many schemes in my life crash and burn.[/QUOTE]
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