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Thu Jun 14, 2018, 07:35 AM

Bitcoin price spike in 2017 was artificially manipulated, study says

Source: https://www.axios.com/bitcoin-ethereum-price-spike

At least half of last year's price boom for Bitcoin and other cryptocurrencies was prompted by price manipulation, according to a new University of Texas study reported by the New York Times.

Why it matters: The paper authored by John Griffin, "an academic with a history of spotting fraud in financial markets," and graduate student Amin Shams raises questions about whether 2017's spiking prices truly reflected investor demand for cryptocurrencies.

Read more: Axios

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Reply Bitcoin price spike in 2017 was artificially manipulated, study says (Original post)
brooklynite Jun 2018 OP
Maeve Jun 2018 #1
bucolic_frolic Jun 2018 #2

Response to brooklynite (Original post)

Thu Jun 14, 2018, 07:37 AM

1. Oh. I. am. shocked.

Who could have imagined such a thing?

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Response to brooklynite (Original post)

Thu Jun 14, 2018, 07:42 AM

2. Until it's fully convertible to all currencies, taxed, universally accepted

it's play money. It's a barter system. Anything could take its place: onions, golf balls, spark plugs.

It's an end run around the existing banking and clearing system. Investors are scalping a piece of the
clearing fees, much like PayPal, GPay, and all the others.

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