Let's play a game we'll call crypto upsy daisy

Alan Goodman
AERYUS
Published in
3 min readMar 9, 2020

Let’s play a game of suppose. Remember, it’s just a game.

Let’s suppose I’m someone who has made a lot of money trading cryptocurrencies. For my success, I’ve become a known individual. In fact, I’m so well known I’m considered an expert. Hey, let’s really go for it — I’m virtually idolized for my prescience and experience. People actually talk about me. “Hey, did you see what So-and-so said about Bitcoin today?” That’s my name, So-and-so. Remember, we’re just playing a game.

And the reason they know what I said about Bitcoin this morning is that major sites and publications repeat what I say. I call them up to say it, or they call me, because I’m known and when I say things and they report it, people click on their links or watch their analysis videos. It’s a game! Just play along.

What I say when values drop

I often get called to say what I say about Bitcoin when the value has dropped. Those cryptocurrency sites and news outlets that follow digital currencies see the drop, they call me, and being an enthusiast who has made money trading cryptocurrencies, I usually say the same thing: “Bitcoin is going to six figures.” Sounds like a good number, right? In my game?

At this point, people who may be followers of mine, or followers of the sites that publish what I say, or are just followers, recognize I’m someone who has made money trading cryptocurrencies and believe what I say, so with the price on a downslide, they buy.

And when they buy, the price goes up. They feel good! I’m so happy I could make people feel good. I’m also happy to see the price go up because I’m someone who has made money trading cryptocurrencies.

I may be playing a different game than the one you think

But what we’ve been seeing lately is that the price only goes so high, and it falls again. When it falls, the people who are less experienced and are followers worry that they may have gotten in at the wrong time. Or didn’t get out at the right time. And if it drops even lower they may actually lose money.

But this is what we know about what happens when things go up and down in value: someone is making money when it goes up, and someone is making money when it goes down.

So what if — remember it’s a only game — what if I am someone making money when it goes down as well as when it goes up?

You will never know it’s me

Think about it. My wallet keeps my identity secret. I could be selling at the high, knowing when I do (and others playing my same game do as well) the price will eventually drop, paving the way for another round of So-and-so getting calls, saying Bitcoin is going to six figures, buying up more Bitcoin just before the followers do when they see the posts and watch the videos. I could even have software that helps me time my buys and sells, and you’d never know it was me.

Here’s what you DO know: I’m someone who has made money trading cryptocurrencies. Isn’t it possible I’ve figured out how to use my influence to spur interest in buying, how to use my knowledge to sell when it hits a target price, and how to use my understanding of how followers react to make money off people who don’t know what game I’m playing?

I have no idea that anyone out there is actually playing this game. But I’m guessing I’m not the first one to figure out the rules.

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