If Bitcoin Looks Like It Isn’t Trading, It’s Because It Isn’t

Re:If Bitcoin Looks Like It Isn’t Trading, It’s Because It I... by bduerst on Monday December 09, 2019 @06:31PM (#21747861)

Bitcoin attracts three different niche markets:

- Crypto enthusiasts who are infatuated with the technology or the math involved

- Anti-Fed Libertarian types who want to use something that isn't controlled by a government

- HFTs and speculators who either use it in part of their models or as a pump and dump vehicle

Some people also use it to buy illegal stuff, but most of them have moved onto Monero as the primary privacy-based cryptocurrency.

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Re:If Bitcoin Looks Like It Isn’t Trading, It’s Because It I... by dehrmann on Tuesday December 10, 2019 @12:40AM (#21749928)

> Crypto enthusiasts who are infatuated with the technology or the math involved

I agree that it attracts these people, but I can't figure out how they make the leap from "clever math" to "this has monetary value and I want in."

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Re:If Bitcoin Looks Like It Isn’t Trading, It’s Because It I... by blaser-waffle on Wednesday December 11, 2019 @10:09AM (#21763041)

So where do online drug dealers fit in the first 2 options?

Or Saudi / Chinese / Russian business types that are trying to extract wealth and avoid the blowback of a regime change?

They probably fit under #2 but I certainly wouldn't call a lot of those libertarian in ideology or even in practice, just opportunists.

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