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Bitcoin

Name: Anonymous 2011-06-20 19:30

What does /prog/ think of Bitcoin?

Name: Anonymous 2011-06-21 7:36

>>2
Neither of those are applicable at all.

In the stock market, the founders of a company create an asset (stock) that can be sold in shares.  The company has an insane (brilliant) business plan and no commercial viability.  They gush about it to investors and convince them to buy up the stock for obscene amounts of money.  Then the founders run away with the money, and the company fails.  This is called a "pump-and-dump".

In the bitcoin market, the inventors and early miners create an asset (bitcoins) that can be sold in shares.  The currency has an insane (brilliant) economic model and no commercial viability.  They gush about it to investors and convince them to buy up the bitcoins for obscene amounts of money.  Then the miners run away with the money, and the currency crashes.  This is called "ANONYMOUS INTERNETS ANARCHY FREEDOM REVOLUTION!!!".

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