Comment: A poor smear attempt

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A poor smear attempt

This article is complete nonsense and an obvious smear attempt, poorly carried out.

The BTC price is determined by the average ticker price from the various exchanges.

Each exchanges ticker price is determined by the last "settlement price" that bitcoins were traded at. Bitcoins are traded via purchase orders and sell orders. When a purchase order BID price matches a sale order's ASK price, then a settlement occurs and bitcoins are exchanged from the seller to the purchaser - just like in any other exchange.

The difference is that on some bitcoin exchanges (such as btc-e.com), you can ACTUALLY SEE ALL THE OPEN PURCHASE AND SELL ORDERS right there in front of your eyes before you make an order. What other exchange will show you that? The NYSE keeps that info to themselves so they know when and by how much they can manipulate markets via high-frequency large-volume trades.

Bitcoin exchanges are by far the most open, honest and reliable exchanges out there. They are reliable, because unlike the comex, nymex, nyse there's no leveraging, margin trading, naked shorting, . Bitcoin exchanges deal only in Bitcoins they actually have and currency that's actually on deposit at the exchange.

The reason silver and gold hasn't gone anywhere in price is because the metal exchanges are FRAUDULENTLY manipulating the price by flooding the market with paper metal that does not, will not and can never be matched by physical metal. They also invoke arbitrary margin calls during bull-market rallies as what happened a few years ago when silver crashed from $50 to $30.

Silver and Gold will NEVER rise like Bitcoins UNTIL the Comex is exposed and it collapses. Then you will see silver and gold move hyperbolic several hundred fold.