Re:A riddle wrapped in a curve
by lisper on Thursday October 22, 2015 @12:47PM
(#10433239)
> they could slowly manipulate its price
How? The only way you can drive the price of bitcoin (relative to some other currency) is to buy or sell it for that currency. You can't manipulate the price simply by moving bitcoins around.
What you could do, of course, is drive the price down by making it known that BTC had been cracked. You could probably even do this so that it played out over a period of days before people were really convinced it was cracked and the whole ecosystem collapsed. But it's hard to see how anyone could profit off this. AFAIK there's no way to short bitcoin.
How? The only way you can drive the price of bitcoin (relative to some other currency) is to buy or sell it for that currency. You can't manipulate the price simply by moving bitcoins around.
What you could do, of course, is drive the price down by making it known that BTC had been cracked. You could probably even do this so that it played out over a period of days before people were really convinced it was cracked and the whole ecosystem collapsed. But it's hard to see how anyone could profit off this. AFAIK there's no way to short bitcoin.