Looking at this Bitcoin thing I am indeed convinced that it’s a bubble. Just as I am convinced that we really do not want to have a, by design, deflationary currency.
However, that we’re in a bubble does mean that there’s an opportunity to make money. The question, obviously, is how?
So, get one’s own Bitcoin variant. Should cost under $100.
Hmm, so, you’ve a currency, you mine a bit of it and keep that.
But now you’ve got to convince other people to also use it. Otherwise, as here, there’s no point to it at all.
Ah, but there are some 100 alt currencies currently. Some of them are actually still easy to mine. And even, some of them that are easy to mine have exchange rates. On actual, real, exchanges. And once you’ve got that you’ve got a route (possibly not from your own currency directly, but through Dogecoin, Finecoin etc to Bitcoin where you can cash out for real money) to cash. So, what do you do?
You mine some of those other currencies. Which you then spend, on those exchanges, on buying your own currency. This establishes a public market and a public value for your new currency. One that you can in fact quite easily manipulate….gradually upwards of course.
Pump and dump it’s called. And the thing is, in a bubble, it will indeed work.
So, who is in on this? Technical ability would be good here: I think I’ve got the finance market part of this already worked out.