News for hackers. Stuff that matters.

A comment on I Spent A Coin (And I Liked It) — How I Bought Lunch in Manhattan with Bitcoins. Parent comment

Re:I Spent A Coin (And I Liked It) — How I Bought Lunch in M... by netcan on Sunday June 26, 2011 @11:40AM (#2698211)
Interestingly, that may be an advantage of the system. It encourages early adoption and encourages early adopters to nurture the system.

Maybe it's unfair, I don't know. But, I don't see any perverse incentives.

[ Parent | on HN ]
Re:I Spent A Coin (And I Liked It) — How I Bought Lunch in M... by ohashi on Sunday June 26, 2011 @03:00PM (#2698747)
If you want to know how this may be perverse, it mirrors a pump and dump. Get in really cheap, hype it and dump for lots of profit on something without any basis for its value.
[ Parent | on HN ]
Re:I Spent A Coin (And I Liked It) — How I Bought Lunch in M... by gridspy on Sunday June 26, 2011 @07:40PM (#2699474)
Only the people who are doing the pumping are going to dump at that point. By the point it is valuable, there will be many more people who (probably) stay around - bitcoin will hopefully be well established by then.
[ Parent | on HN ]