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A comment on Long Island Iced Tea Soars 500% After Changing Its Name to Long Blockchain. Parent comment

Re:Long Island Iced Tea Soars 500% After Changing Its Name t... by charlesdm on Thursday December 21, 2017 @11:51AM (#15980409)
Yes, of course. And since they don't put in a significant amount of money, even if their investment were to go 50x, they probably wouldn't cash out and keep holding. That is a clear mistake, as it can be dangerous not to exit.

I was just pointing out that it can be profitable riding a bubble, as long as you're careful about it. I have an old money friend who put in a few million last year. That's exciting stuff.

One thing I wonder: since they own so little, do they even move the market?

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Re:Long Island Iced Tea Soars 500% After Changing Its Name t... by overcast on Thursday December 21, 2017 @11:55AM (#15980456)
Alone no, but the combined yes. There are a few big players that manipulate this market. The Winklevoss did it, and caused the first bubble in 2013. Then the market fell off the cliff, and sat a $200 for the next 3 years, until someone bought up tons at around $250-300 mark, and here we are again.
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