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Is Bitcoin surge driven by paid-publicity (similar to US election story)?

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Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#21

Post by Tepix »

Sevii wrote: post #2

Why does crashing the market make sense if it’s a good product?

Bitcoin is now in a situation where they have a very hard time doing a fork, because with every fork they risk having some people remaining on the old code and claiming to be the true bitcoin.

Thus bitcoin can no longer evolve. We all know what happens to things that do not evolve.

Ethereum on the other hand is putting a time bomb into their code that forces them to fork every year or so. There is no risk of people remaining on the old code.

Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#23

Post by Tepix »

drcross wrote: post #20
rthomas6 wrote: post #3

Earlier quoted context omitted.

A good product for what, exactly? Fast, decentralized, small monetary transactions? Because right now BTC is pretty awful at that.

>A good product for what, exactly? Since its inception it's an exceptionally good store of value over the medium to long term.

It used to be a decent currency, it stopped being that a couple of months ago.

Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#24

Post by aplummer »

brndnmtthws wrote: post #18

You may want to just accept the fact that Bitcoin is valuable because of what it offers as a store of value and system of trustless, censorship resistant exchange of value.

It’s definitely not all of those when >= 51% of the mining power is in the PRC.

Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#25

Post by jbob2000 »

PeachPlum wrote: post #10

> Fake news, facebook & twitter ads that influenced US elections proved that it's possible to do something like this. but Hillary lost. Facebook has identified $100,000 of ads that came from accounts associated with Russia. Clinton and Trump combined spent $81 million on Facebook. [1] [1] https://techcrunch.com/2017/11/01/russian-facebook-ad-spend/

I think it's a mistake to equate ad spend with ad effectiveness.

Russia only needs to sow discord, they don't need to follow you through the entire election season like Hillary does. A few targeted ads here and there are all that's needed to compound their other efforts across the web.

Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#26

Post by kkotak »

thisisit wrote: post #13

Well the assumption here is that general public or the dumb money can actually create a rally which increases in multiple of 1000s. This is possible and does happen in penny stocks where stocks go from couple of cents to couple of dollars or maybe in 100s. But, in 1k or even 10ks? I seriously doubt it.....Unless there is a story behind the volume and there is some serious round trip trading going on: https://www.inve…

It's called market making. Happens on all exchanges. Without them there won't be liquidity.

Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#27

Post by an_account »

thisisit wrote: post #13

Well the assumption here is that general public or the dumb money can actually create a rally which increases in multiple of 1000s. This is possible and does happen in penny stocks where stocks go from couple of cents to couple of dollars or maybe in 100s. But, in 1k or even 10ks? I seriously doubt it.....Unless there is a story behind the volume and there is some serious round trip trading going on: https://www.inve…

Almost no one I know buys a whole Bitcoin. You don’t have to put in 10K to get started.

Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#28

Post by brndnmtthws »

aplummer wrote: post #24
brndnmtthws wrote: post #18

You may want to just accept the fact that Bitcoin is valuable because of what it offers as a store of value and system of trustless, censorship resistant exchange of value.

It’s definitely not all of those when >= 51% of the mining power is in the PRC.

Miners actually have a lot less power than people realize. Anyone can run their own fully-validating Bitcoin node. Miners do indeed mine the blocks, but _all_ nodes perform verification. If miners try to mine invalid blocks, Bitcoin nodes will simply reject them.

Re: Is Bitcoin surge driven by paid-publicity (similar to US election story)?

#29

Post by anudeep2011 »

dmschulman wrote: post #9

Why pay for the marketing when every major news outlet in the country will continually cover the story as the price continues to rise wildly and as major financial institutions get invested? I run multiple browser plugins to block ads on my browser, but has anyone actually seen Facebook, et al ads for cryptocurrency?

news outlets cover news about bitcoins but not stuff like 'Secret revealed: see how this couple made million dollars in 3 weeks' sort of articles.

+ also to get the initial seed interest so that these news outlets keep talking about it.

I have seen A LOT of ads from ICO and bitcoin exchanges. For articles like above, myself (and most people here) might not be the target.

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