31–40 of 167 posts
It would be shocking if there was not manipulation in a completely unregulated market. We can't stop manipulation in regulated markets, without any rules it's the wild west.
I'm not sure why it's on HN, but it's real. It was originally happening in the public channel #dogecoin-market on Freenode but was then moved to the private channel #marketmakers, which seems to have spurred people to start sharing it everywhere since now it's private. Wolong is the guy who brought the Dogecoin price to where it is now by investing a ton of money into it, and due to that and some charisma he's attrac…
Let me fix that for you:
> Do not gamble anything you are not prepared to lose.
I'm not sure why it's on HN, but it's real. It was originally happening in the public channel #dogecoin-market on Freenode but was then moved to the private channel #marketmakers, which seems to have spurred people to start sharing it everywhere since now it's private. Wolong is the guy who brought the Dogecoin price to where it is now by investing a ton of money into it, and due to that and some charisma he's attrac…
This illustrates a simple idea in economics: cartels are hard to maintain because participants will look out for their own self-interest.
They may be hard to maintain, but they do spring up and may exert power while alive.
I'm not sure why it's on HN, but it's real. It was originally happening in the public channel #dogecoin-market on Freenode but was then moved to the private channel #marketmakers, which seems to have spurred people to start sharing it everywhere since now it's private. Wolong is the guy who brought the Dogecoin price to where it is now by investing a ton of money into it, and due to that and some charisma he's attrac…
This illustrates a simple idea in economics: cartels are hard to maintain because participants will look out for their own self-interest.
I don't know the literature, and what assumptions they make in there, but out in the real world the lightbulb cartel lasted from 1924 till 1942 or thereabouts. The keyword to look for is "Phoebus Cartel". Also, recently in the news: the Silicon Valley wage-fixing cartel. They may be hard to maintain, but they do spring up and may exert power while alive.
1) There is a scientific basis for the 10.000 hours, the "greatest" achievement generally attributed to Phoebus[1]:
> For a supply voltage V near the rated voltage of the lamp:
Light output is approximately proportional to V 3.4
Power consumption is approximately proportional to V 1.6
Lifetime is approximately proportional to V −16
Color temperature is approximately proportional to V 0.42[88]
> In the late 1920s a Swedish-Danish-Norwegian union of companies
(the North European Luma Co-op Society) began planning an independent
manufacturing centre. Economic and legal threats by Phoebus did not
achieve the desired effect, and in 1931 the Scandinavians produced and
sold lamps at a considerably lower price than Phoebus.
I'm not sure why it's on HN, but it's real. It was originally happening in the public channel #dogecoin-market on Freenode but was then moved to the private channel #marketmakers, which seems to have spurred people to start sharing it everywhere since now it's private. Wolong is the guy who brought the Dogecoin price to where it is now by investing a ton of money into it, and due to that and some charisma he's attrac…
> Do not invest anything you are not prepared to lose. Let me fix that for you: > Do not gamble anything you are not prepared to lose.