If you put $1000 into Bitcoin last year, you would now have...Sorry for pooperino sounderino :(
If you put $1000 in Bit-con 1 year ago you would now have 170$ :)
Happy anniversary ATH Bitcoin ponzi.
How normal markets behave:
How a ponzi behaves:
So unlike normal markets here we have:
* Negative sum (FX null sum stocks positive sum)
* The whole system depends on miners which either: A) Get paid in crypto for running the system, that they sell and drop the price. B) Get paid in crypto for running the system, which they hold greedily until they have a fat stack that could single handedly crash the entire system.
* 99% of crypto existance is based on exchanges. Bitcoin was nothing before MtGox. People go to crypto exhanges to buy and sell. Unlike normal markets, these exchanges ar enot neutral. At all. Arthur Hayes is a crypto early investor and "believer" for crying out loud. They hold bags and have a 100% full clear conflict of interest. Also, if this ponzi collapses, their businesses likely die (unless theystart diversifying quick but all these names... like they can all make the transition to Forex or something else). The people running the show are dependent on it not crashing, or as slowly as possible. They are not regulated too. It is in their interest to keep this alive as long as possible.
WHAT COULD POSSIBLY GO WRONG? :D
Leprous - Contaminate me. Coldplay - Fix you.
