Tuesday, September 07, 2021

I was Kind of Expecting Things to Go in the Opposite Direction

Regarding the day's cryptocurrency "flash crash," I'm interested in what the cause was (apparently a bunch of "whales" decided to sell off?) and whether it was some kind of collusive market manipulation play ("our sell-off will ignite a bigger one and then we can buy the dip we caused"), or just a massively coincidental "it's at $50k, good time to sell some ... oh, shit, broke something there" moment. My Spidey sense says the former, but but my Spidey sense tends toward undue suspicion and I'm just not well-informed enough to say for sure.

On the up side, I'm not big on legal tender laws for obvious reasons. On the other hand:

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