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Worries Grow That the Price of Bitcoin Is Being Propped Up

nytimes.com

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Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#71
post #60

Earlier quoted context omitted.

Please don't copy and paste from other threads. The comment itself is sort of a rehashing of by now ultra tedious material, too. You're far from the only one rehashing it—pun intended—but it would be good if everyone doing it would stop. Repetition is the leading anti-value of this site.

It isn't re-hashing, I actually copied and pasted my own comment, verbatim. And with good reason. Despite the humorous tone, my comment is about how easy it is to manipulate prices in unregulated, anonymous markets. It might sound like a joke, but it isn't, and it relates to the article in question. But I'll put it in different wording: in an anonymous, unregulated market, it is very hard to validate transactions as…

Yes, please don't copy and paste on Hacker News. We're trying for thoughtful discussion here. Imagine what would happen if everyone did that!

HN is an internet forum where we're trying to find and talk about interesting things. Once something has been repeated enough times it ceases to be interesting. This is incompatible with the intellectual curiosity HN exists for (https://news.ycombinator.com/newsguidelines.html).

What makes this so difficult is that repetition is its own form of pleasure and doubly so when indignation is excited. My dream is to get all of us on HN to be aware of this dynamic so we can focus on curiosity—which has quite a different texture—and steer clear of the tedious.

The points you're repeating about Bitcoin have been commonplace for a long time now, and the jokey format dilutes quality further. You're not the only one doing this, but the copy-pasting thing is bad. As if these threads weren't repetitive enough already!

Re: Worries Grow That the Price of Bitcoin Is Being Propped Up

#72
post #6

> Also, they would not always want it in exact increments of $100 million, as has been the case. Not to question the Tether story but I don't understand this line of argument. What is the problem with exact increments? Sure, the tokens have to be issued only if the issuing conditions are met. But given the number of hacks, wouldn't people want to use the issuing account sparingly? You know, use the issuing account to…

The theory behind tether is it's backed by US dollars so if investors send in 1234 usd they should be held in reserve and 1234 tether issued against them. If they are issuing them in lots of 100 million it suggests they were not bothering with the whole receive dollars from investors and hold them bit.
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