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Old 05-17-2011, 05:34 PM   #130
Kebo
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Join Date: May 2007
Chapter/Region: South East
Location: Jacksonville
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Quote:
Originally Posted by dmross View Post
Profit from speculation doesn't need to be stupid or smart, it just needs to be lucky.

Conspiracy theory - someone (or ones) smart already cracked it and are deliberately causing a bitcoin market frenzy to drive up the value and cash out before destroying bitcoin. People will lose money, but some unknowing dumb lucky speculators can still ride the wave and profit.

Hedge funds and banks do it all the time in "real" world. Maybe the developers can create a P2P TARP network.
This MIT guy who started it all...what was to stop him from giving himself a 'headstart fund'?

Or talk to one of his buddies and have them open up an exchange service.

MIT GUY: Hey Mike, I've got a business opportunity for you. You open an exchange service to convert a fictional, electronic currency to cash. People will PAY YOU a fee to convert this currency to dollars. Then over time you'll build up a huge stockpile of this currency, we'll generate some buzz and demand will rise, so you can sell the currency for a massive profit.

Mike: This would take an incredibly gullible group of people to buy into this. I'm in.
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