Jesus fucking christ this board. Have any of you faggots studied economics?
The rektening
Matthew Murphy
Jack Wilson
miners are rich enough to pump it, they made a fortune at ATH
Logan Jones
>muh economics
Yep - it's bullshit that doesn't take realities like washtrading chinks with billions into account. Same reason using some TA etc works so well - it's such a manipulated market it's trivial to trade it profitably so "random walk" is the noob-tier meme here. Fuck your economics nigger.
Sebastian Barnes
You are actually retarded if you think comparing your shit to bitcoin is a good analogy.
You lost any credibility there.
If we were to shit gold it would be worthless you brainlet.
Go take your shit to the street.
Carter Sullivan
If you think profits are made to artificially inflate prices at unreasonable high prices, you just proved to be as stupid as the average BTC-maximalist.
Brandon Richardson
>everyone calling each other a brainlet
good thread
John Reyes
Do not underestimate the power of Bitmain, I would never short them.
Logan Nelson
I've never actually seen an intelligent person call someone else a brainlet/retard, they could always argue their point without insults. They're the favorite words of bottomfeeders though.
Adam Baker
Of course Bitmain could at least temporarily manipulate the price up to 25k or so.
The question is why they would do it - the Bitmain executives don't want to use their profits to pump BTC, they want to use their profits to buy lambos.
Pumping and dumping also isn't really an option for them, as thousands of bagholders will dump onto them as soon as the price hits 15k or so.
Joseph Bennett
>Literally not understanding shit
Point is: if I enter something valuable into a process, that is expensive but renders the input useless or speculative, does not mean that the output is worth anything.
Another allegory:
You throw your PC to a scrap press. The PC is worth $500 and the operation of using the press costs you about $10 in time, energy, space etc.
After doing this, you do not end up with electrical scrap worth $510. Only if you sell it to others as art or if people speculate on the value of electrical scrap going parabolic, you will achieve a price above its value as electrical scrap.
Now replace "your PC" with "electricity" and "scrap press" with "mining".
>Do not underestimate the power of Bitmain, I would never short them.
Shorting a manipulated market is as dangerous as going long, the last months showed that pretty good. I took my profits in december and wait for the market to come to its senses.
>they want to use their profits to buy lambos
Hammer --> Nail. You got it.