As we’ve established, most trading in bitcoin—like everything else about it—is fake. But even if now really is finally the time to buy, or pretend to buy, on account of its most recent plunge, there’s apparently no sport in trying to manipulate the imaginary anymore.

In the last week of November, with bitcoin trading at around $7,000, only about 14% of the 18 million bitcoins outstanding were actively traded, according to data from research firm Flipside Crypto. That is down from more than 50% in October 2018…. About 9.1 million bitcoins, representing about 51% of those outstanding, haven’t changed hands in at least six months, according to Flipside. About two million of those bitcoin haven’t moved in more than two years.

You can probably guess where this is going….

“A lot of people are sitting at the moment,” said Eric Stone, the head of data science at Flipside. But that much bitcoin sitting idle is like kindling, he suggested. “It can be the precursor to dramatic shifts.”

If Bitcoin Looks Like It Isn’t Trading, It’s Because It Isn’t [WSJ]


By AntanaCoins (Own work) [CC BY-SA 3.0], via Wikimedia Commons

Fake Trading In Fake Currency Produced Fake Rally And Fake Peak

And it didn’t take much to do, either, sayeth the numbers.

By AntanaCoins (Own work) [CC BY-SA 3.0], via Wikimedia Commons

After Revelation Of Fake Trading, Potentially Fake Trade Drives Bitcoin Up 20%

People are still getting excited, of course, but you’d expect that.

By AntanaCoins (Own work) [CC BY-SA 3.0], via Wikimedia Commons

Looks Like We’ve Got Another Crypto Civil War On Our Hands

What makes a cryptocurrency a currency, one lawsuit-battling crypto wonders aloud and angrily?


Coinbase To Unite Two Scorned Corners Of The Financial Market

Can’t trade your cryptos fast enough? Just co-locate your servers at the giant bitcoin exchange.

By Mike Cauldwell ( [Public domain], via Wikimedia Commons

Goldman Sachs Trades FUD For FOMO

And Chipotle trades bumretch for blockchain.

By Mike Cauldwell ( [Public domain], via Wikimedia Commons

On Coping (Or Not) With Bitcoins Lost

There are five stages of crypto-grief, and it can take a long time to cycle through them.