1) "Bitcoin is basically a Ponzi scheme" said Paul Krugman.
2) So is bitcoin a giant bubble that will end in grief? Yes. But it’s a bubble wrapped in techno-mysticism inside a cocoon of libertarian ideology. And there’s something to be learned about the times we live in by peeling away that wrapping.
3) Bitcoin’s untethered nature also makes it highly susceptible to market manipulation. Back in 2013 fraudulent activities by a single trader appear to have caused a sevenfold increase in bitcoin’s price. Who’s driving the price now? Nobody knows. Some observers think North Korea may be involved.
Sources : www.seattletimes.com...ally-a-ponzi-scheme/
Notes : Support 26077.19, Resistance 28035.9
2) So is bitcoin a giant bubble that will end in grief? Yes. But it’s a bubble wrapped in techno-mysticism inside a cocoon of libertarian ideology. And there’s something to be learned about the times we live in by peeling away that wrapping.
3) Bitcoin’s untethered nature also makes it highly susceptible to market manipulation. Back in 2013 fraudulent activities by a single trader appear to have caused a sevenfold increase in bitcoin’s price. Who’s driving the price now? Nobody knows. Some observers think North Korea may be involved.
Sources : www.seattletimes.com...ally-a-ponzi-scheme/
Notes : Support 26077.19, Resistance 28035.9
Another puzzle is that why the founder of Bitcoin choose not to reveal his own identify? Some news article speculated that this guy was actually working for a drug dealer and the whole system was designed to help the boss to do money laundry.