Bitcoin price manipulation | Bitcointalksearch.org

cloverme

legendary

Activity: 1512

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SpacePirate.io

Quote from: JRu on January 03, 2015, 04:30:54 PM

As we all well know as miners that the cost of mining is increased. We provide a service and create the product we sell. I have a vast banking/investment back ground. This is not about me, it's about mining. Now that the shorters have brought Bitcoin price sub USD 300.00 a lot of miners effort will be wasted. I intend to do something about that. I need 67 serious miners and need their time and attention. I will need no money/BTC. I need pledges to follow instructions and I will make BTC go to the fare market value it is intended to be. Please email [email protected] and I will provide details. Miners must ban together like the diamond industry does. Some might understand this some might not. I am free to explain.

I'm guessing you're trying to create a type of nash-equilibrium... I'm not sure that you would have enough volume though to move the market. You do realize how much hashing power is currently in play and the number of BTC in circulation, right?

SargeR33

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★Bitin.io★ - Instant Exchange

Quote from: Voltarius on January 07, 2015, 05:51:45 AM

Quote from: SargeR33 on January 04, 2015, 01:54:00 AM

I said this in another post. Who else remembers how the chinese killed any form of gold mining in online MMO/RTS/RPG games? AOE Online, WoW, Diablo 3 to name a small few.

Go to google and search chinese mmo gold mining. They ruin everything just to take the usd. Once they have a market hold, they will ruin everything further by scamming and rorting the system.

I was hearing something about this, I don't remember where, I think it was actually on trade channel on my WoW realm, saying something about that they somehow found out that a "certain" chinese gold selling website had a 150 TH/s Bitcoin miner farm, selling BTC to USD by like a $5 undercut at whatever price is at the time they are wanting to sell it, then somehow transferring the USD to Gold in various WoW Realms....
I don't know how true that is, but I found it quite interesting that if that is true, then they are ruining things for both WoW players and BTC enthusiasts.

I wouldn't doubt this for a second. The chinese will undercut anybody for the dollar. They will kill the value of the BTC to make the dollar. They tried to tweak the wow gold but couldn't without killing it. Any WoW gold website you find which is NOT a chinese site will outsource their work to china.

If the BTC is 350, they will sell at 345 for maximum liquidity. How quick they can turn anything into USD is what matters, now how much USD.

Voltarius

sr. member

Activity: 294

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Mercurial

They somehow found out that a "certain" chinese gold selling website had a 150 TH/s Bitcoin miner farm, selling BTC to USD by like a $5 undercut at whatever price is at the time they are wanting to sell it, then somehow transferring the USD to Gold to other places.
I don't know how true that is, but I found it quite interesting that if that is true, then they are ruining things for BTC enthusiasts.

Net5kY

member

Activity: 102

Merit: 250

Quote from: SargeR33 on January 04, 2015, 01:54:00 AM

I am interested to hear what he has to say.

I believe what he means by miners wasting time(I believe he means hobby/home miners). I did my math some time ago, for the units I run, if the value of BTC drops below $250 USD then my miners will be operating at a loss.

At the end of the day, the plethora of Chinese mining farms running thousands of machines is killing mining which will harm BTC. The chinese don't use the BTC, they mine it and dump, mine and dump, mine and dump etc. They don't care what they get for the btc either since the machines cost them little to manufacture, power is cheap, labor is cheap. They don't want btc, they take any and every method to stockpile USD. Mining becomes harder for everyone else, people lose interest.

A crypotocurrency is a magnificent, revolutionary idea but is flawed.

I said this in another post. Who else remembers how the chinese killed any form of gold mining in online MMO/RTS/RPG games? AOE Online, WoW, Diablo 3 to name a small few.

Go to google and search chinese mmo gold mining. They ruin everything just to take the usd. Once they have a market hold, they will ruin everything further by scamming and rorting the system.

Good point..

thresher

hero member

Activity: 700

Merit: 500

Quote from: SargeR33 on January 04, 2015, 01:54:00 AM

I am interested to hear what he has to say.

I believe what he means by miners wasting time(I believe he means hobby/home miners). I did my math some time ago, for the units I run, if the value of BTC drops below $250 USD then my miners will be operating at a loss.

At the end of the day, the plethora of Chinese mining farms running thousands of machines is killing mining which will harm BTC. The chinese don't use the BTC, they mine it and dump, mine and dump, mine and dump etc. They don't care what they get for the btc either since the machines cost them little to manufacture, power is cheap, labor is cheap. They don't want btc, they take any and every method to stockpile USD. Mining becomes harder for everyone else, people lose interest.

A crypotocurrency is a magnificent, revolutionary idea but is flawed.

I said this in another post. Who else remembers how the chinese killed any form of gold mining in online MMO/RTS/RPG games? AOE Online, WoW, Diablo 3 to name a small few.

Go to google and search chinese mmo gold mining. They ruin everything just to take the usd. Once they have a market hold, they will ruin everything further by scamming and rorting the system.

I always thought why don't miners manipulate the market more, even if just to sell hardware, but after reading your post and then realizing the truth that the Chinese have managed to destroy every video game economy since the dawn of time, I guess btc was the next step, then? Huh

Furio

legendary

Activity: 938

Merit: 1000

BTC | LTC | XLM | VEN | ARDR

Quote from: SargeR33 on January 04, 2015, 01:54:00 AM

I am interested to hear what he has to say.

I believe what he means by miners wasting time(I believe he means hobby/home miners). I did my math some time ago, for the units I run, if the value of BTC drops below $250 USD then my miners will be operating at a loss.

At the end of the day, the plethora of Chinese mining farms running thousands of machines is killing mining which will harm BTC. The chinese don't use the BTC, they mine it and dump, mine and dump, mine and dump etc. They don't care what they get for the btc either since the machines cost them little to manufacture, power is cheap, labor is cheap. They don't want btc, they take any and every method to stockpile USD. Mining becomes harder for everyone else, people lose interest.

A crypotocurrency is a magnificent, revolutionary idea but is flawed.

I said this in another post. Who else remembers how the chinese killed any form of gold mining in online MMO/RTS/RPG games? AOE Online, WoW, Diablo 3 to name a small few.

Go to google and search chinese mmo gold mining. They ruin everything just to take the usd. Once they have a market hold, they will ruin everything further by scamming and rorting the system.

I find this development karma for the western civilization, we exploited for over centuries, now it's us...... Very interested in his gameplan!

SargeR33

member

Activity: 112

Merit: 10

★Bitin.io★ - Instant Exchange

I am interested to hear what he has to say.

I believe what he means by miners wasting time(I believe he means hobby/home miners). I did my math some time ago, for the units I run, if the value of BTC drops below $250 USD then my miners will be operating at a loss.

At the end of the day, the plethora of Chinese mining farms running thousands of machines is killing mining which will harm BTC. The chinese don't use the BTC, they mine it and dump, mine and dump, mine and dump etc. They don't care what they get for the btc either since the machines cost them little to manufacture, power is cheap, labor is cheap. They don't want btc, they take any and every method to stockpile USD. Mining becomes harder for everyone else, people lose interest.

A crypotocurrency is a magnificent, revolutionary idea but is flawed.

I said this in another post. Who else remembers how the chinese killed any form of gold mining in online MMO/RTS/RPG games? AOE Online, WoW, Diablo 3 to name a small few.

Go to google and search chinese mmo gold mining. They ruin everything just to take the usd. Once they have a market hold, they will ruin everything further by scamming and rorting the system.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

What do you believe BTC's fair value to be in USD?

Why do you say that the miner's work is for nothing? Their activity produces brand spanking new bitcoins for them the spend or hodl.

Looking forward to your background thoughts. I also have a banking/investment background.

Tom Mercutio

newbie

Activity: 38

Merit: 0

Why 67?

de3mka

member

Activity: 102

Merit: 13

How do I change an avatar?

And why you don't post the instructions here?

Somekindabitcoin

hero member

Activity: 518

Merit: 500

Good luck with that. You probably tried to make calculations, but they aren't going to work at all.

JRu

full member

Activity: 238

Merit: 100

As we all well know as miners that the cost of mining is increased. We provide a service and create the product we sell. I have a vast banking/investment back ground. This is not about me, it's about mining. Now that the shorters have brought Bitcoin price sub USD 300.00 a lot of miners effort will be wasted. I intend to do something about that. I need 67 serious miners and need their time and attention. I will need no money/BTC. I need pledges to follow instructions and I will make BTC go to the fare market value it is intended to be. Please email [email protected] and I will provide details. Miners must ban together like the diamond industry does. Some might understand this some might not. I am free to explain.

Topic: Bitcoin price manipulation (Read 1666 times)