Notes from the crash: watching the Bitcoin pumps and dumps live on GDAX

If you know what you’re looking at, the GDAX depth chart is absolutely gripping. It’s like an action thriller movie for very dull people. If you ever wondered why I don’t trade in cryptos …
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Why you can’t cash out pt 1: Why Bitcoin’s “price” is largely fictional

Public discussion and media coverage of Bitcoin assumes certain things about Bitcoin:
• Bitcoin has a price, that you could expect to buy or sell it around.
• Bitcoin is like buying a share in a company, or a commodity like gold — the market works the same way.
• Bitcoin is liquid — you can easily convert your money to Bitcoin, and your Bitcoin to money.
None of these are true.
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