Topic: Bitcoin 2017 Price Rise was a Scam by Bitfinex using Tether(Fraud) (Read 330 times)
November 08, 2019, 09:48:40 AM
Thanks fo the info
November 08, 2019, 05:23:00 AM
As the network doesn't have any regulatory body, it will be manipulative. Based on the fact often we can get news relative to various claims. Most of the time the claims were associated with the Satoshi. Now the market rise itself had got termed to be a scam by Bitfinex. If that's the truth, even now there shouldn't be rise in the market as the tether issue isn't over. The present claim is a FUD which has been started for circulation focusing the upcoming price increase based on the halving.
November 08, 2019, 05:17:45 AM
if the 2017 price is manipulated, is it also the same in 2013 or 4 years after that around 2021, I often see many threads in this forum discussing the price of bitcoin in 2020 and also 2021, so whether there will be other manipulations later, I will save this thread, see in the next year whether it looks manipulated or just FUD
November 08, 2019, 05:13:29 AM
Bitcoin 2017 Price Rise was a Scam by Bitfinex using Tether(Fraud, fractional reserve digital currency)
https://cointelegraph.com/news/one-whale-was-behind-bitcoins-2017-bull-run-claim-researchers
Here is the real news, there was no real adoption, and their is still not, just a lot of market manipulations from Bitfinex.
Which is why the markets keep dropping and dead cat bouncing.
Once the class action lawsuit destroys the tether scam, expect the same scammers to sell out of all tether and other cryptos
before the verdict crashing the markets to lows not seen in 5 years.
https://thenextweb.com/hardfork/2019/10/08/class-action-lawsuit-alleges-bitfinex-tether-cost-cryptocurrency-market-1-4t/
* Part of the reason so many exchanges are closing up shop, they all know the real collapse is coming. *
Good Day and Good Luck.
https://cointelegraph.com/news/one-whale-was-behind-bitcoins-2017-bull-run-claim-researchers
Quote
Researchers have escalated their claims about market manipulation in winter 2017, now claiming that a single whale was responsible for Bitcoin’s historic price surge. The development was reported by Bloomberg on Nov. 4.
John M. Griffin and Amin Shams — of the universities of Texas and Ohio respectively — have updated their previous research, which made the case that market misconduct was allegedly behind Bitcoin’s bull run to an all-time high of $20,000 in December 2017.
“Clairvoyant market timing” or manipulation
Griffin and Sham’s analysis, first published in a research paper in June 2018, had argued that transaction patterns on the blockchain suggested Tether had been used to provide price support and manipulate the Bitcoin market:
John M. Griffin and Amin Shams — of the universities of Texas and Ohio respectively — have updated their previous research, which made the case that market misconduct was allegedly behind Bitcoin’s bull run to an all-time high of $20,000 in December 2017.
“Clairvoyant market timing” or manipulation
Griffin and Sham’s analysis, first published in a research paper in June 2018, had argued that transaction patterns on the blockchain suggested Tether had been used to provide price support and manipulate the Bitcoin market:
Here is the real news, there was no real adoption, and their is still not, just a lot of market manipulations from Bitfinex.
Which is why the markets keep dropping and dead cat bouncing.
Once the class action lawsuit destroys the tether scam, expect the same scammers to sell out of all tether and other cryptos
before the verdict crashing the markets to lows not seen in 5 years.
https://thenextweb.com/hardfork/2019/10/08/class-action-lawsuit-alleges-bitfinex-tether-cost-cryptocurrency-market-1-4t/
* Part of the reason so many exchanges are closing up shop, they all know the real collapse is coming. *
Good Day and Good Luck.
First, I don't think that it was a scam. Second, even if it was, it definitely raised awareness, which is good in the long run. Unfortunately, a lot of people lost a lot of money, and that is a shame. I'm not saying that scams are good, regardless of the result. However, if there is a silver lining to the event, it's that more people had learned about BTC because of it, that it all.
November 08, 2019, 05:05:44 AM
Another conspiracy theory. Seems they are very popular when people can't find explanations for some events on market like price rise or price fall and obviously everyone loves misteries.
Let's stick to facts and what can be checked and proved instead of designing imaginary scenarios all the time.
Let's stick to facts and what can be checked and proved instead of designing imaginary scenarios all the time.
November 08, 2019, 05:00:27 AM
So I should fidget over your own personal opinion that does not make sense to me, and I would say that you are even thee one creating fud unnecessary which I think you are just doing that out of the envy that you have lost form the train at buying when the value of bitcoin was still considered to be extremely reach because the time that I joined cryptocurrency, there was nothing even like tether and the market was increasing, there was no tether before bitcoin reached $3000, so tell me what you believe made bitcoin to reach $3000 before the last all time high of $9800.
We all know that the market was manipulated then to a level but not to that level for which you are taking it, there are still lost of bitcoin adoption, I that is writing here have adopted bitcoin, I know about 20 of my friend that are also in bitcoin which I also know we have many people like that in the forum.
We all know that the market was manipulated then to a level but not to that level for which you are taking it, there are still lost of bitcoin adoption, I that is writing here have adopted bitcoin, I know about 20 of my friend that are also in bitcoin which I also know we have many people like that in the forum.
November 05, 2019, 05:01:10 PM
Griffin and Sham’s analysis, first published in a research paper in June 2018, had argued that transaction patterns on the blockchain suggested Tether had been used to provide price support and manipulate the Bitcoin market
sounds like a sham analysis alright!
people tend to overestimate the ease with which markets can be manipulated. if bitcoin's bubbles were pure manipulation, why hasn't price crashed to double digits or $0 yet? why isn't everybody selling?
why did the market hit nearly $14k this year----some other manipulator, or was it tether again?
news flash: accumulators, whales, institutions etc provide support at market bottoms, including on bitfinex. it's their buying demand that forms these bottoms to begin with. doesn't mean it's always "manipulation"......
November 05, 2019, 04:14:18 PM
Difficult to conclude what is the basis of this news, without complete evindence their hard to believe because in every accussation need an evindence to prove tp convience people.
Accussation without evindence not acceptable in the court of law lol😀😀😀 I still believe the all time high last 2017 is cause of the world market stablility strong.
Accussation without evindence not acceptable in the court of law lol😀😀😀 I still believe the all time high last 2017 is cause of the world market stablility strong.
November 05, 2019, 04:00:24 PM
This type of speculation lasted a long time, but it has not been proven that such a thing took place.
Quite the opposite happened - Audit stated that Tether is completely secured and nothing like fake pump happened on the exchange, it was only a natural inflow of capital:
https://www.coindesk.com/tether-review-claims-crypto-asset-fully-backed-theres-catch
There are still doubts whether everything has been thoroughly checked, but probably no one will ever be sure when it comes to crypto market speculation.
Quite the opposite happened - Audit stated that Tether is completely secured and nothing like fake pump happened on the exchange, it was only a natural inflow of capital:
https://www.coindesk.com/tether-review-claims-crypto-asset-fully-backed-theres-catch
There are still doubts whether everything has been thoroughly checked, but probably no one will ever be sure when it comes to crypto market speculation.
November 05, 2019, 03:49:20 PM
This is not the first time the whales will manipulate the crypto market and the issue happened a couple of years ago after which the crypto market has experienced corrections and a blood bath. I hope this is not the reason why some people are not so sure about the effect of the block halving next year cause I don't see any real collapse coming and I don't see the 2017 scenario affecting the trend of this year market.
November 05, 2019, 03:19:54 AM
Forget about this research report, What do you think personally? If there is anything without manipulation? I don't think so, I believe that the Bitcoin market is totally based on the holder's manipulation and in this way, the price of Bitcoin goes up and downs, That's why I always support a proper regulation form, If this system has an accurate regulation process then this platform would be more stable and less volatile, but I don't believe this type of research because this doesn't mean anything when you haven't any control over your system, so such news couldn't bring any positive thing towards this platform.
Yes even I doubt the credibility of this research it does make any logical sense, this is a free for all forum but it does not mean users can post any random post claiming it to be the reason for pump or dump because we are all well aware that crypto market is manipulated by those who holds huge portion of bitcoin and if it's regulated then users will abandon crypto.
November 05, 2019, 02:58:03 AM
That is, the whole 2017 bull run was faked. It's not hard for them because any amount of tether can be printed whenever they like.
If more manipulations like this continue to happen then, I think it's better for crypto to be regulated.
If more manipulations like this continue to happen then, I think it's better for crypto to be regulated.
We can think of 101 reasons if the 2017 bull run was fake or real, but it was the Bull Run. Ever since then we are waiting for such a volume again which we saw in 2017 December. Also the thing to be noted is that if anything is fake or a bubble, it will never come up again after the bubble, Bitcoin will again break its all time high and this does not happen with manipulations all the time.
Bitcoin by itself is so strong to break its previous resistance and there is no need for any artificial act.
November 05, 2019, 02:19:58 AM
that is obviously a bullshit claim that could only work during 2018 that we had a price drop not today. because today you can not explain why price has not yet fallen back down to $900 (that is the price before the rise began in 2017 which you and your bullshit article on that shitty website are claiming). you can't explain it because it is bullshit.
take a look at altcoins for comparison. when the rise is fake and a pump, the price goes up but it comes back down to the price it started at and then continues going down as the fake pump goes away and eventually price reaches a value below the starting value.
example is ethereum. it was pumped with fake money in 2017 from 0.016 up to 0.15 then from that ATH is June 2017 it has been constantly dumped to the current price of 0.019 and still continues going down. that is 2.5 years of dumping.
now look at bitcoin. it went from $800 to $19800 then had a correction down to below $10k and then came back to $10000 and is staying there. if it was fake (pump) then price would have reached $3000 then went down to $2000 and $1000 and $800 again.
take a look at altcoins for comparison. when the rise is fake and a pump, the price goes up but it comes back down to the price it started at and then continues going down as the fake pump goes away and eventually price reaches a value below the starting value.
example is ethereum. it was pumped with fake money in 2017 from 0.016 up to 0.15 then from that ATH is June 2017 it has been constantly dumped to the current price of 0.019 and still continues going down. that is 2.5 years of dumping.
now look at bitcoin. it went from $800 to $19800 then had a correction down to below $10k and then came back to $10000 and is staying there. if it was fake (pump) then price would have reached $3000 then went down to $2000 and $1000 and $800 again.
November 05, 2019, 01:51:46 AM
Forget about this research report, What do you think personally? If there is anything without manipulation? I don't think so, I believe that the Bitcoin market is totally based on the holder's manipulation and in this way, the price of Bitcoin goes up and downs, That's why I always support a proper regulation form, If this system has an accurate regulation process then this platform would be more stable and less volatile, but I don't believe this type of research because this doesn't mean anything when you haven't any control over your system, so such news couldn't bring any positive thing towards this platform.
November 05, 2019, 01:51:00 AM
FUD. It doesn't change anything about Bitcoin as a permissionless, self-boostrapped, sovereign, censorship-resistant cryptocurrency. The world is better with Bitcoin around, than without. 
November 05, 2019, 12:01:09 AM
Tether already sabotaged themselves:
Crypto Market Roiled by New Allegations Against Tether, Bitfinex
Bitfinex Allegedly Covers $850 million Loss with Tether Funds
Bitfinex Used Tether Reserves to Mask Missing $850 Million
So there's a lot of allegations against them, "running on fractional reserve " or "no audits" afterall.
Anyways, I don't believed as well that they have something to do with bull run and it's subsequent collapse, it's pretty obvious that time that we are already in a bubble.
Crypto Market Roiled by New Allegations Against Tether, Bitfinex
Bitfinex Allegedly Covers $850 million Loss with Tether Funds
Bitfinex Used Tether Reserves to Mask Missing $850 Million
So there's a lot of allegations against them, "running on fractional reserve " or "no audits" afterall.
Anyways, I don't believed as well that they have something to do with bull run and it's subsequent collapse, it's pretty obvious that time that we are already in a bubble.
I must admit that those previous allegations on Tether and Bitfinex have more substance than this 2017 bull run study which seems to support the notion that Tether and Bitfinex have been all along doing these unlawful things brazenly! And all of these are being set up to condition the minds of the public and influence their perception on these two entities. But of course, all of these are just allegations pending finality from court decision.
Now, this is the most puzzling thing to me, assuming Bitfinex and Tether did really orchestrate the pump on 2017 bull run, then we can assume that they were suppose to gain millions if not billions of dollars after that supposedly market manipulation right?
So lets also assume, they did totally get billions of dollars through that "manipulation", then I am wondering why Bitfinex, together with Tether were indicted on the supposedly $850 million dollar Bitfinex cover up allegation which supposedly happened on mid 2018?
I mean this allegations doesn't connect at all on why would Bitfinex would use Tether reserve funds to cover for its losses if they really did got substantial amount during the 2017 bull run as allegedly orchestrated by them?
November 04, 2019, 09:49:40 PM
The Tether Fraud has been ongoing for a long time, wouldn't it be seen as additional FUD for the BTC to rise?
Imagine the people involved in that scam being arrested IRL and some people are going to witness it? Isn't it that once people start dumping USDT to BTC, it increases the price? So if there's $4 Billion to be dumped in USDT, there would be a significant impact on the cost of BTC. It would shoot up because people want to hold more of BTC instead of that Tether.
They have all the power with all those "missing USD" in question, and they can dump all of it in the market. Wouldn't it be the same with the Mt. Gox collapse?
Imagine the people involved in that scam being arrested IRL and some people are going to witness it? Isn't it that once people start dumping USDT to BTC, it increases the price? So if there's $4 Billion to be dumped in USDT, there would be a significant impact on the cost of BTC. It would shoot up because people want to hold more of BTC instead of that Tether.
They have all the power with all those "missing USD" in question, and they can dump all of it in the market. Wouldn't it be the same with the Mt. Gox collapse?
November 04, 2019, 08:48:50 PM
It's a old new https://www.coindesk.com/study-claims-tether-props-bitcoins-price-in-market-downturns
I'm personally, skeptical that the Tether people would be crazy enough to keep up this scam after being subpoena'd by the SEC (~Dec 14th) which is why I'm not particularly worried. however we should stop using USDT. because every time major moves like 2017 peak happen there is negative headline news on Tether and Bitfinex. also the retail investors can't even convert USD to USDT themselves, and can't redeem USDT for USD, so it's not the same as USD. it seems every major crypto exchange and company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.
I'm personally, skeptical that the Tether people would be crazy enough to keep up this scam after being subpoena'd by the SEC (~Dec 14th) which is why I'm not particularly worried. however we should stop using USDT. because every time major moves like 2017 peak happen there is negative headline news on Tether and Bitfinex. also the retail investors can't even convert USD to USDT themselves, and can't redeem USDT for USD, so it's not the same as USD. it seems every major crypto exchange and company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.
It seems to me that there is a grand conspiracy to discredit Tether including Bitfinex purely because of competition! - maybe because there are other stablecoin competitors out there that wants to take over Tether's status right now and yet, they have always been disappointed!
And why would anyone link Tether as the only cause of 2017 bullrun when everybody knows that FOMO became widespread to the crypto-community and mass media further fueled it and everybody at that time "want to have a piece of the pie" with this "bullish crypto scene".
Now I think that study seems flawed and purely hypothetical and still needs to be peer reviewed by independent third party entities to verify if it is correct!
I also think Cointelegraph's way of reporting should be more comprehensive and subjective and should present more pertinent proofs to substantiate it. Imho.
Cointelegraph feels like a messy news outlet, I see some great quality articles from them and I spend an average of 30 minutes a day using the site, but sometimes I see stuff like this and I just get confused...
Tether already sabotaged themselves:
Crypto Market Roiled by New Allegations Against Tether, Bitfinex
Bitfinex Allegedly Covers $850 million Loss with Tether Funds
Bitfinex Used Tether Reserves to Mask Missing $850 Million
So there's a lot of allegations against them, "running on fractional reserve " or "no audits" afterall.
Anyways, I don't believed as well that they have something to do with bull run and it's subsequent collapse, it's pretty obvious that time that we are already in a bubble.
November 04, 2019, 07:37:33 PM
It's a old new https://www.coindesk.com/study-claims-tether-props-bitcoins-price-in-market-downturns
I'm personally, skeptical that the Tether people would be crazy enough to keep up this scam after being subpoena'd by the SEC (~Dec 14th) which is why I'm not particularly worried. however we should stop using USDT. because every time major moves like 2017 peak happen there is negative headline news on Tether and Bitfinex. also the retail investors can't even convert USD to USDT themselves, and can't redeem USDT for USD, so it's not the same as USD. it seems every major crypto exchange and company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.
I'm personally, skeptical that the Tether people would be crazy enough to keep up this scam after being subpoena'd by the SEC (~Dec 14th) which is why I'm not particularly worried. however we should stop using USDT. because every time major moves like 2017 peak happen there is negative headline news on Tether and Bitfinex. also the retail investors can't even convert USD to USDT themselves, and can't redeem USDT for USD, so it's not the same as USD. it seems every major crypto exchange and company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.
It seems to me that there is a grand conspiracy to discredit Tether including Bitfinex purely because of competition! - maybe because there are other stablecoin competitors out there that wants to take over Tether's status right now and yet, they have always been disappointed!
And why would anyone link Tether as the only cause of 2017 bullrun when everybody knows that FOMO became widespread to the crypto-community and mass media further fueled it and everybody at that time "want to have a piece of the pie" with this "bullish crypto scene".
Now I think that study seems flawed and purely hypothetical and still needs to be peer reviewed by independent third party entities to verify if it is correct!
I also think Cointelegraph's way of reporting should be more comprehensive and subjective and should present more pertinent proofs to substantiate it. Imho.
Cointelegraph feels like a messy news outlet, I see some great quality articles from them and I spend an average of 30 minutes a day using the site, but sometimes I see stuff like this and I just get confused...
November 04, 2019, 07:14:19 PM
It's a old new https://www.coindesk.com/study-claims-tether-props-bitcoins-price-in-market-downturns
I'm personally, skeptical that the Tether people would be crazy enough to keep up this scam after being subpoena'd by the SEC (~Dec 14th) which is why I'm not particularly worried. however we should stop using USDT. because every time major moves like 2017 peak happen there is negative headline news on Tether and Bitfinex. also the retail investors can't even convert USD to USDT themselves, and can't redeem USDT for USD, so it's not the same as USD. it seems every major crypto exchange and company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.
I'm personally, skeptical that the Tether people would be crazy enough to keep up this scam after being subpoena'd by the SEC (~Dec 14th) which is why I'm not particularly worried. however we should stop using USDT. because every time major moves like 2017 peak happen there is negative headline news on Tether and Bitfinex. also the retail investors can't even convert USD to USDT themselves, and can't redeem USDT for USD, so it's not the same as USD. it seems every major crypto exchange and company doesn't want Tether to fail, knowing what will happen to their business if USDT collapses.
It seems to me that there is a grand conspiracy to discredit Tether including Bitfinex purely because of competition! - maybe because there are other stablecoin competitors out there that wants to take over Tether's status right now and yet, they have always been disappointed!
And why would anyone link Tether as the only cause of 2017 bullrun when everybody knows that FOMO became widespread to the crypto-community and mass media further fueled it and everybody at that time "want to have a piece of the pie" with this "bullish crypto scene".
Now I think that study seems flawed and purely hypothetical and still needs to be peer reviewed by independent third party entities to verify if it is correct!
I also think Cointelegraph's way of reporting should be more comprehensive and subjective and should present more pertinent proofs to substantiate it. Imho.
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