Author

Topic: Bitcoin price is being manipulated in China (Read 2654 times)

legendary
Activity: 1596
Merit: 1011
January 10, 2017, 10:38:58 AM
#30
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.
member
Activity: 78
Merit: 10
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.
legendary
Activity: 910
Merit: 1000
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.
newbie
Activity: 56
Merit: 0
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 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.
hero member
Activity: 1078
Merit: 514
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 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.
hero member
Activity: 2352
Merit: 905
Metawin.com - Truly the best casino ever
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.
sr. member
Activity: 406
Merit: 252
Veni, Vidi, Vici
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.
member
Activity: 99
Merit: 10
Nobody actually can control the price. I really don't understand why people think that at the time Sad  And what do you mean exactly manipulated, do you think bitcoin is like a boll?
jr. member
Activity: 59
Merit: 10
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.
hero member
Activity: 1330
Merit: 569
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.
hero member
Activity: 1022
Merit: 511
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.
legendary
Activity: 1372
Merit: 1252
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.

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.
member
Activity: 262
Merit: 22
Seems reasonable to me.
Will The Donald think the same?
legendary
Activity: 2408
Merit: 1009
Legen -wait for it- dary
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
zby
legendary
Activity: 1594
Merit: 1001
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.
hero member
Activity: 1792
Merit: 536
Leading Crypto Sports Betting & Casino Platform
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
hero member
Activity: 882
Merit: 544
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.
legendary
Activity: 2170
Merit: 1427
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. Wink
hero member
Activity: 518
Merit: 500
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.
hero member
Activity: 1568
Merit: 544
China is a large volume and can make waves.,

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.
legendary
Activity: 2268
Merit: 1278
So what I'm reading is that people try to maximize their profits. Scandalous!
hero member
Activity: 560
Merit: 502
January 09, 2017, 06:12:06 AM
#9
Op, you forgot to add that when these gathering take place there is someone sitting on a throne dressed as Satoshi...
But seriously until someone can show me a picture then this theory will remain pure fucked up conspiracy theory.
zby
legendary
Activity: 1594
Merit: 1001
January 09, 2017, 06:03:27 AM
#8
How is that price manipulation?

I am pretty sure this post is a troll. It is even funny how many replies he gathered.
hero member
Activity: 644
Merit: 500
Transact Safer / Chase Better
January 09, 2017, 05:54:37 AM
#7
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.

See we need proofs in this industry because we don't know who hold more bitcoin may be they are from China, Russia, Japan and India etc. Price fluctuations are common in trading sector, now bitcoin is being traded by many countries on many exchanges and even in local exchanges some people trading, with all the consideration bitcoin price will be taken into consideration.
member
Activity: 113
Merit: 10
January 09, 2017, 02:22:02 AM
#6
you would really need a lot of money to do this and would still take a high risk. plus we can profit by selling high and buying low. so why should i care. bitcoin is all about the price lately anyways.

you said it as you know when it is high and when it is low, could you have predicted the bottom and then the current value? i really doubt

their manipulation is to eat fish that think can predict the market, like you and other, and yes they have plenty of bitcoin to manipulate the market, miners alone have in the range of 100k if not more

this estimate can be easily achievement with the big miners farm that worked for all these years, i also believe that some of the big pool can work together to manipulate the price if it is done at their advantage
so either their influence is so small that there is no real price change or it is big enough to profit.
legendary
Activity: 3248
Merit: 1070
January 09, 2017, 02:17:28 AM
#5
you would really need a lot of money to do this and would still take a high risk. plus we can profit by selling high and buying low. so why should i care. bitcoin is all about the price lately anyways.

you said it as you know when it is high and when it is low, could you have predicted the bottom and then the current value? i really doubt

their manipulation is to eat fish that think can predict the market, like you and other, and yes they have plenty of bitcoin to manipulate the market, miners alone have in the range of 100k if not more

this estimate can be easily achievement with the big miners farm that worked for all these years, i also believe that some of the big pool can work together to manipulate the price if it is done at their advantage
newbie
Activity: 18
Merit: 0
January 09, 2017, 02:12:55 AM
#4
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.

I do not know if it is right or wrong but everytime china has some notices from central bank of china or bitcoin bans promulgated . The bitcoin market has been decreased deeply but it seems the bitcoin groups of china are real because they are owning almost nearly 90% of bitcoin amount in the world and it certainly will be effected by chinese bitcoin groups.
member
Activity: 113
Merit: 10
January 09, 2017, 02:01:01 AM
#3
you would really need a lot of money to do this and would still take a high risk. plus we can profit by selling high and buying low. so why should i care. bitcoin is all about the price lately anyways.
legendary
Activity: 2114
Merit: 1023
Oikos.cash | Decentralized Finance on Tron
January 09, 2017, 01:43:23 AM
#2
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.
newbie
Activity: 1
Merit: 0
January 09, 2017, 01:23:42 AM
#1
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 sell-buy offering, thus balancing member profits over time.

Seems reasonable to me.

Edit1 Jan 9 1232pm EST: I've asked for a meeting-place photo - said he'd attended some

Edit2 Jan 9       1pm EST: Added photo from friend of a China Bitcoin whales meeting-place                                                                                 https://twitter.com/DeepCrypter2/status/818517670781919232

Edit3 Jan 10     3pm EST: Attendees know each other well — "Loss of life" threatened if photo of any attendees

Edit4 Jan 11   10am EST: Corrected spelling 'threatened'

Edit5 Jan 11     5pm EST: Just heard members voted today at 5am EST (BTC = $900 USD) to all be sellers to the market - big profit for the whales 'riding wave down'

Edit6 Jan 11   11pm EST: Just heard again from my friend that the Bitcoin whales have agreed to push BTC price down even more, then 'buy back in the low 100's' — Will begin big selling in 'next 24 hours or when BTC tops out in high 700's.' (source verified but not message)

Edit7 Jan 12     5pm EST: Photo from anonymous source of China Bitcoin 'whale' who didn't have enough money to 'ride the wave' up at secret Bitcoin price-manipulation meeting (Designation not verified)
https://twitter.com/DeepCrypter2/status/819654190893039616

Edit8 Jan 17     3am EST: China Bitcoin 'whales' are planning for a Bitcoin crash 'heard round the world' — Caveat Emptor (Only source verified)

Edit9 Jan 17     6am EST: Why crash Bitcoin?

Sell 10 soon after top
Buy 100 at bottom soon after crash caused by 'whales' (explained above)
Buy 10's on 'wave up' caused by 'whales' (explained above)

See also
http://www.coindesk.com/masters-backed-hedge-fund-greed-leverage-broke-bitcoins-rally/#

Edit10 Jan 17  10am EST: Perfect setup for Bitcoin crash
https://twitter.com/DeepCrypter2/status/821375386080702465

Edit11 Jan 18    9am EST: I don't know if this Bitcoin 'mini crash' will turn into  Bitcoin crash 'heard round the world' — It just might if the 'Whales' decide to
https://twitter.com/DeepCrypter2/status/821723509693042690

Edit12 Jan 19    8am EST: Bitcoin owners and investors should be fearful of a Bitcoin “Black Swan” event — an unexpected price crash of large magnitude and consequence. Some of what China Bitcoin exchanges consider 'correct', we consider 'corrupt' — e.g. insider trading, front-running orders, price manipulation.

Edit13 Jan 19    1pm EST: Since China's share of Bitcoin daily volume is more than 95%, the yuan is weakening and all their peasants are buying Bitcoin, the only thing propping up the Bitcoin price wave is that China government has not yet banned Bitcoin. I predict soon they will — the Bitcoin “Black Swan” event in Edit12.

Edit14 Jan 20    1am EST:
Investors Warned by People's Bank of China of Illegal Financing of 3 China Bitcoin Platforms
Results of an initial investigation by People's Bank of China showed BTCChina was engaged in illegal operations and financing activities. Funds and capital trading on the platform were also not guaranteed by third-party custody terms. Two other major Bitcoin trading platforms, Huobi and Okcoin, which are under investigation by the central bank's operations office in Beijing, were also reported to be engaged in illegal financing .....
http://www.ecns.cn/cns-wire/2017/01-19/242503.shtml

Edit15 Jan 20    3pm EST: Given my, shall we say … imperfect record at prognostication, I'm going to avoid anything that looks like a 'prediction.' But with that aside, I'm making a 'prediction sequence' — China will ban Bitcoin, and Bitcoin will crash 'heard round the world.' When? Bitcoin will crash sooner than later but before Bitcoin hits $1,000 US.

Edit16 Jan 21    9am EST: We are trying to decipher the Bitcoin whales secret trading algorithm. Let me know if you would like a copy if we are successful. (ricochet.im is anonymous)
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit17 Jan 22    2am EST: I learned today that Bitcoin 'Whales' are working on a 'Price Manipulation BOT' that will eliminate requirement that they secretly meet together. Stay tuned for when I get more details and status.

Edit18 Jan 22    8am EST: Just found out Bitcoin 'Whales' unleashed their new 'price-manipulation BOT' to cause a mini-crash starting at 1149 UTC. Watch the charts to see if and when it ends.

Edit19 Jan 22 830am EST: Folks, stay seated please — The show's not over till the fat lady sings. Pain and gain thanks to the Bitcoin 'Whales' new 'price-manipulation BOT'.

Edit20 Jan 22    9am EST: Got a million dollars to trade Bitcoin with the new Bitcoin whales 'price-manipulation BOT'? Get 'abord' the BOT link and password just received:
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit21 Jan 22 930am EST: Here's the latest Bitcoin price mini-crash caused by 'Whales' unleashing their new 'price-manipulation BOT'
https://twitter.com/DeepCrypter2/status/823174837187313664

Edit22 Jan 22  10am EST: Threats of my 'death' for these disclosures are totally inappropriate and very wrong.

Edit23 Jan 22 115pm EST: Looks like Bitcoin 'Whales' new 'price-manipulation BOT' and/or the peasants are now buying.
https://twitter.com/DeepCrypter2/status/823228783276728320

Edit24 Jan 22    4pm EST: Unless you're wealthy and want to 'swim' seriously with the Bitcoin 'Whales' in their inner sanctum Bitcoin sauna, do not request admission here
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit25 Jan 23    8am EST: It's tough to know Bitcoin Whales new price-manipulation BOT orders vs real orders — Answer here if you're serious
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit26 Jan 23 12pm EST: Test results of Bitcoin Whales new secret price-manipulation BOT show promising enormous daily money gains
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit27 Jan 24   3am EST: Get on 24-hour secret Bitcoin 'Whales' Hotline — Learn whether 'Whales' are buying or selling
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit28 Jan 24 11am EST: Bitcoin 'whales' discussing 'BOT killer attack' on hotline. Caveat emptor!

Edit29 Jan 25   8am EST: Learn your Bitcoin value will crash soon at new secret price-manipulation BOT Hotline
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit30 Jan 25  11am EST: How new secret Bitcoin price-manipulation BOT pushes Bitcoin price UP
https://twitter.com/DeepCrypter2/status/824283014624579585

Edit31 Jan 25   3pm EST: For one hour today - starting now - I'm unleashing for FREE to the first person requesting the new secret Bitcoin price-manipulation BOT for you to trade until your heart's content and you just might get wealthy
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit32 Jan 25   5pm EST: Unless you're as wealthy as a Bitcoin Whale, you probably don't have enough money to buy the new secret
Bitcoin price-manipulation BOT — no winners in Edit31

Edit33 Jan 25   7pm EST: We're going 'off grid' to 'Ricochet instant message' until further notice — New information is just too dangerous to be public
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit34 Jan 27 11am EST: I just received the very secret 'Bitcoin Doomsday Clock' — Doom by secret 'Bitcoin price-manipulation BOT' — Caveat emptor

Edit35 Feb 7   9pm EST: I've been wrong before, but this time I'm putting my money where my mouth is. From a source I've found 100% reputable, I just received - without requesting - the date and time of the Bitcoin Apocalypse available to the highest bidder. If I am wrong, I will pay the highest bidder TRIPLE the amount bid + return the amount bid. We both will put all our funds with a mutually-agreed escrow agent.

Here's how it will work: Say highest bidder bids 10 Bitcoin. I deposit 30 Bitcoin. If I am wrong, escrow agent pays bidder 10 Bitcoin + my 30 Bitcoin = 40 Bitcoin. If I am correct, escrow agent pays me the 40 Bitcoin. Not a bad deal, eh?
https://ricochet.im/
ricochet:6kjpdt4lerzm7i7x

Edit36 Feb 12 11am EST: Bitcoin survives because of "Country Crutches" — Volume down in one country, up in next, e.g. USA / China / Japan (soon)
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