News for hackers. Stuff that matters.
Re:Tom Lee Predicts Cyrptocurrency Market Outflow to Fiat Cu... by User23 on Friday April 06, 2018 @12:25PM (#16774475)
Or maybe it's not steep enough. A forced-sell situation doesn't leave much pricing power. The classical Roman fire-sale is the archetypical case. Also I'm sure many taxpayers will elect not to pay the capital gains before tax day, deciding instead to ride out interest and penalties in favor for being able to sell at a higher price. This could get interesting.

I would love to see an after the fact analysis that deduces the relative market power of buyers and sellers from the transaction history.

Re:Tom Lee Predicts Cyrptocurrency Market Outflow to Fiat Cu... by smacktoward on Friday April 06, 2018 @01:15PM (#16775038)
For those who don't get the reference to "the classical Roman fire-sale": https://en.wikipedia.org/wiki/History_of_firefighting#Rome

> The first ever Roman fire brigade of which we have any substantial history was created by Marcus Licinius Crassus... One of his most lucrative schemes took advantage of the fact that Rome had no fire department. Crassus filled this void by creating his own brigade—500 men strong—which rushed to burning buildings at the first cry of alarm. Upon arriving at the scene, however, the fire fighters did nothing while their employer bargained over the price of their services with the distressed property owner. If Crassus could not negotiate a satisfactory price, his men simply let the structure burn to the ground, after which he offered to purchase it for a fraction of its value.

Through this and other schemes, Crassus became one of the richest men in Rome. He used this fortune to amass substantial political power, eventually rising to the peak of power in the Roman system by joining the First Triumvirate (https://en.wikipedia.org/wiki/First_Triumvirate) with Pompey the Great and and ambitious young go-getter named Julius Caesar.