Topic: Bitcoin price is being manipulated in China (Read 2654 times)
china is the power of bitcoin that exist in the world today. they have a very strong resources. we can assume that China can do anything. necessary controls and regulations in order to comply with the rules bitcoin. all of this must begin today. create an agency that regulates bitcoin.
It was a bit manipulated but I have to say that I right now not know if this is still the fact due to the droppings and that mining is not so profitable anymore.
I don't think that bitcoin price is being manipulated by government of China
because there are no valid proof and as we know bitcoins is not fiat currencies
movement bitcoin's price depend on demand and supply.
Even though there are many users of bitcoins on China doesn't mean
they can be manipulation bitcoin's price.
because there are no valid proof and as we know bitcoins is not fiat currencies
movement bitcoin's price depend on demand and supply.
Even though there are many users of bitcoins on China doesn't mean
they can be manipulation bitcoin's price.
How is that price manipulation?
I am pretty sure this post is a troll. It is even funny how many replies he gathered.
I am pretty sure this post is a troll. It is even funny how many replies he gathered.
I am more to believe to what legendary member says than to this thread. I thought that bitcoin is not controlled by anyone. China is known only by the number of users.
Could they be meaning by the amount of users in bitcoin in china that could be a factor too.
How is that price manipulation?
I am pretty sure this post is a troll. It is even funny how many replies he gathered.
I am pretty sure this post is a troll. It is even funny how many replies he gathered.
I am more to believe to what legendary member says than to this thread. I thought that bitcoin is not controlled by anyone. China is known only by the number of users.
At firat remember that no one is telling such informations publicly and than, everything what you said has some reality in it. Price of bitcoin and ecen USD is sometimes manipulated. Imagine what was price of petroleum some years ago and what is it now, it's very less and that was manually manipulated against russia, am I wrong? So situation was and always will be manipulated in every currency while it is known and I think only that country isn't doing such things, many big players from different places make decisions together.
To my way of thinking is logical bitcoin being manipulated by China because is first time Chinese are not under control of PCB. Furthermore is easy anyone to find that the biggest percentage of bitcoins is traded with Yuan. On the other side even though the last years Chinese government imposed a strict policy forcing the media to Censor bitcoin summit there is no reason to act as OP claims. Chinese markets has the power to move bitcoin's price every where they wish.
Nobody actually can control the price. I really don't understand why people think that at the time 
And what do you mean exactly manipulated, do you think bitcoin is like a boll?
And what do you mean exactly manipulated, do you think bitcoin is like a boll?
Yes its a sort of manipulated in china but that is not something that is bad but its of course also not great... the fact is that there were a lot of miners over there.
Its a possibility that its being manipulated but to the best of my knowledge, any anonymous story does not hold water and I am sure we will need more than that reported speech to actually believe what Op is trying to pass across. Another way to look at it is why is that its only China that its being manipulated with the number of users we have all over the world. That needs answer as well as what will be the volume of BTC they will hold to actually be able to influence price among other questions that remain unanswered.
I don't know about the secret meetings in private places but the sheer volume of traders and miners, plus Chinese money policy making does have some strong effect on the bitcoin price that is for sure. They are more aggressive than the rest of the world in general where it comes to bitcoin so they do have a huge say in what goes on.
I too do not see any significant of this secret meeting because already Chinese people are influencing bitcoin price levels and also they are already manipulating it for their own benefits. It becomes possible for them just due to the fact of lack of contribution from rest of the countries. As long as other countries are ignoring the mass adoption / trading bitcoin, situations may persist.
I received some information from a friend in China reinforcing that Bitcoin price is being manipulated in China. If the information is correct, as I believe it is, this manipulation helps explain the wild Bitcoin price volatility recently. He has requested that his name and location not be identified.
Here's what I heard. Bitcoin wealthy owners, traders, exchangers and miners meet 24 hours a day at secret places near a large China Bitcoin miner. Attendees divide themselves into 2 groups -- Bitcoin buyers and sellers. At a time agreed on by a majority of both group members, buy group buys the seller group offerings. To manipulate price up, sell group sells at a significantly higher price than market price - buy group buys seller group offerings. To manipulate price down, sell group sells at a significantly lower price than market price - buy group buys seller group offerings. Buy and sell groups switch to sell and buy groups after each offering thus balancing member profits over time.
Seems reasonable to me.
Here's what I heard. Bitcoin wealthy owners, traders, exchangers and miners meet 24 hours a day at secret places near a large China Bitcoin miner. Attendees divide themselves into 2 groups -- Bitcoin buyers and sellers. At a time agreed on by a majority of both group members, buy group buys the seller group offerings. To manipulate price up, sell group sells at a significantly higher price than market price - buy group buys seller group offerings. To manipulate price down, sell group sells at a significantly lower price than market price - buy group buys seller group offerings. Buy and sell groups switch to sell and buy groups after each offering thus balancing member profits over time.
Seems reasonable to me.
This is just an unconfirmed rumor, then again, why not go to the end and claim that the chinese government itself is allied with chinese miners and big whales in order to manipulate the price? It just seemed to me that the announcement that the chinese government did before the price crashed was made at the perfect time in order to crash the price and profit from short positions... of course, this is probably not the case and we are just being conspiracy theorists, but it's still not outside the realm of possibility that those things happen.
Seems reasonable to me.
Will The Donald think the same? 
we have no proof but it is really possible. take a look around. where there is money to be made there will always be people who will take advantage of others. and when people have the capability, what should stop them from doing it? better safe than sorry. thats why i rarely put money in bitcoin i just work to earn some bitcoins preferably while cheap and just basically try to time my sells
We don't need any proof to believe that people buy and sell BTC off exchanges and that to do that they need to agree on the price - it is obvious that people do that. The question is how that constitutes manipulation.
I'm pretty sure op is talking about collusion to buy others coins on the exchange. For instance, two guys collude to raise volume and try to fake a price rise. guy A has 1000 BTC, and guy B has $1mm. Guy a places ask for 1000 BTC at $1000 (cny converted, of course) and guy B buys those coins with zero fees so it's a wash. Now we are net positive volume of 1000btc with no risk to the team. Now guy B places ask at $1010, but only ~990 BTC, then guy A buys those coins back. Now we are net 1990BTC in buys. Rinse and repeat. Of course there are other coins there too, but the small fish are nothing in a scheme to make the big bucks. Drive the price up with little risk (considering they are the whales) and dump it down.
/tinfoil
we have no proof but it is really possible. take a look around. where there is money to be made there will always be people who will take advantage of others. and when people have the capability, what should stop them from doing it? better safe than sorry. thats why i rarely put money in bitcoin i just work to earn some bitcoins preferably while cheap and just basically try to time my sells
We don't need any proof to believe that people buy and sell BTC off exchanges and that to do that they need to agree on the price - it is obvious that people do that. The question is how that constitutes manipulation.
we have no proof but it is really possible. take a look around. where there is money to be made there will always be people who will take advantage of others. and when people have the capability, what should stop them from doing it? better safe than sorry. thats why i rarely put money in bitcoin i just work to earn some bitcoins preferably while cheap and just basically try to time my sells
Bitcoin price in my opinion is really being manipulated in China. Even if they do it on purpose or not, they still manipulate bitcoin when they buy some of it and sell all their coins and they can manipulate it I think not mainly because of the meetings you mention OP since they don't need that, but because of the huge miners and whales that are in China today, playing with bitcoin's price by themselves and maybe they agree when to pump and dump all together.
Nothing new. It's almost a common occurrence that there are entire groups of whales teaming up at various major exchanges to manipulate the price into a certain direction. Insider information plays a very important role here. Well coordinated attacks on exchanges are also part of the plan here. It's no surprise that exchanges miraculously get hacked, or experience heavy problems when the price has gone up in a solid manner. But it's not all that bad as it allows traders to greatly benefit from these heavy fluctuations. Make something bad turn out to be an advantage for you. 
Price can not be manipulated by buyers and sellers mutually.It has to be only one group either buyers only or sellers group only.
If buyers and sellers join hands to manipulate the price, they will have to switch the roles after each deal.
If buyers and sellers join hands to manipulate the price, they will have to switch the roles after each deal.
China is a large volume and can make waves.,
This could be solved with bots easily , no need to meet and greet there. Dont believe what you have heard.
Here's what I heard. Bitcoin wealthy owners, traders, exchangers and miners meet 24 hours a day at secret places near a large China Bitcoin miner
This could be solved with bots easily , no need to meet and greet there. Dont believe what you have heard.
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