Bitcoin

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15 points·pmorici··5 comments

I've been watching the censorship and manipulation in r/Bitcoin (and bitcointalk forum) for a few years now. I'm genuinely dumbfounded they've as to how they've been so successful in the age of the internet. I also don't know how the Reddit admins have been able to justify ignoring it for so long.

I feel sorry for those who've invested in Bitcoin but haven't been around long enough to understand how thick the walls of the r/Bitcoin bubble really are. A lot of people are going to get hurt. It's just a matter of time.

> I've been watching the censorship and manipulation in r/Bitcoin (and bitcointalk forum) for a few years now.

It was pretty obvious that sub was created to shill for bitcoins and to manipulate people into buying bitcoins. It's pretty much a boiler room for bitcoins. The tactics on that sub are the same as those you see on penny stock forums.

> A lot of people are going to get hurt.

Oh they've been hurt. There have been a couple of major run-ups and collapses of bitcoin prices on reddit. The running joke on that sub was posting suicide hotlines for those caught holding the bag.

It wasn't originally that way it was only in 2015 that it morphed into what it is today.

Seems to implicate the CTO of Blockstream a VC backed company to the tune of ~$50 million. Wonder if it will lead to his resignation. Account hacking isn't exactly just a t&c violation.

The CTO of Blockstream in question, is at least semi intelligent enough so that the criminal trail will not lead back to him. He probably hired some guns over TOR to do it for him.

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