Topic: BTC is being manipulated into stability. But why? (Read 3144 times)
The simple fact is that we are "manipulating" into stability because we who hold a substantial amount of BTC and are not momentum-chasing lemmings sell when the price rises too much or too fast and buy when it plunges or falls too fast or too much. We make more fiat that way. We pick up extra coins that way. This is not a conspiracy. This is smart investment management.
I would like to politely inform any such person in advance, that they are a idiot.
an* idiot
I have no doubt that massive selling could drive the price down, however, this isn't a stock, all holders that I know would buy on the way down non-stop until every penny they had was gone. So how much power do these manipulators actually have??
I can only envision a disaster scenario where satoshi, the FBI, and maybe a couple of others in the top 25 relinquished all of their coins over a 6 month period, causing the price to tumble past all possible support and sucking every saving dollar out of every person on this forum and the rest of the geek world. But then why would they do that unless they were intentionally trying to kill bitcoin.
Ever since the liquidity issues between Bitstamp and Bitfinex were worked out, volatility has plummeted. If Mt.Gox finally took a little lead pill to cure its disease, >95% of the fiat/crypto market cap would be a liquid market, and most of the pathological catastrophes would be ended. The swaps on BFX have done price discovery an amazing service.
Since when has this been possible?
(Routing Bitfinex leveraged positions with all its trading options through the much deeper Ask/Bid walls on Stamp)
Well, the bots are trading with real money.
are they?? where are their fillings? weekly reports? are they regulated at all? 3rd party auditor sign off?
perhaps bitstamp and coinbase are just playing with a stacked hand (big pockets) and btc-e may or may not be fudging... but gox and the china exchanges are probably suspect more than anything
The only proof is that real people's buy and sell orders are being filled. You can't do that with imaginary bitcoins or dollars.
Of course I haven't actually withdrawn funds from stamp lately. Hmm...
Withdrew 400$ from Bitstamp just yesterday, went smooth and took one day with a SEPA transfer.
I think people would like to know about $4,000 or $40,000 liquidity moves
I withdraw 4 figure amounts monthly and never have a problem
wallstreet coming in. they will pump after they take the position they want, not before.
One of the criticisms of Bitcoin is that the early adopters control too much of the wealth.
This is hardly a criticism of bitcoin. It is more a criticism of the people who repeat it: It shows that they are deluded by envy. So deluded by venial envy that they are willing to cut off their nose to spite their face.
I suspect early adopters are artificially keeping the price below $1000USD/coin.
This will cost them Bitcoin, but may not be a bad thing in the long-run. One of the criticisms of Bitcoin is that the early adopters control too much of the wealth.
By keeping the price stable; they can encourage Bitcoin adoption and spread coins around (reducing coin concentration) at the same time. In FIAT terms, how much they can buy with their Bitcoins may end up being about the same anyway.
This will cost them Bitcoin, but may not be a bad thing in the long-run. One of the criticisms of Bitcoin is that the early adopters control too much of the wealth.
By keeping the price stable; they can encourage Bitcoin adoption and spread coins around (reducing coin concentration) at the same time. In FIAT terms, how much they can buy with their Bitcoins may end up being about the same anyway.
Indeed. Zanglebert from the forum said it like this:
"To keep your coins, you must lose your coins."
In the past month volume has bee relatively low.
I suspect early adopters are artificially keeping the price below $1000USD/coin.
This will cost them Bitcoin, but may not be a bad thing in the long-run. One of the criticisms of Bitcoin is that the early adopters control too much of the wealth.
By keeping the price stable; they can encourage Bitcoin adoption and spread coins around (reducing coin concentration) at the same time. In FIAT terms, how much they can buy with their Bitcoins may end up being about the same anyway.
I suspect early adopters are artificially keeping the price below $1000USD/coin.
This will cost them Bitcoin, but may not be a bad thing in the long-run. One of the criticisms of Bitcoin is that the early adopters control too much of the wealth.
By keeping the price stable; they can encourage Bitcoin adoption and spread coins around (reducing coin concentration) at the same time. In FIAT terms, how much they can buy with their Bitcoins may end up being about the same anyway.
Ever since the liquidity issues between Bitstamp and Bitfinex were worked out, volatility has plummeted. If Mt.Gox finally took a little lead pill to cure its disease, >95% of the fiat/crypto market cap would be a liquid market, and most of the pathological catastrophes would be ended. The swaps on BFX have done price discovery an amazing service.
IF bitcoin is going to be used as a payment option by retailers then the price will become managed by the payment processors. The processors will be forced to trade the market and manage large positions because selling entire lots in one shot would obviously be counter productive. In fact if you have a huge amount of bitcoin and fiat on the exchanges then "manipulating" the price would be a profitable venture.
Yep, sounds plausible.
Any entity with a specific interest and deep enough pockets both in terms of USD and BTC, could have teams of experts and robots ride these markets like a bitch, with the aim of holding Bitcoin at a specific price range, and sucking up Joe Bloggs' usd and btc to fund the times when they need to take a sizeable hit in order to keep the ship afloat.
IF bitcoin is going to be used as a payment option by retailers then the price will become managed by the payment processors. The processors will be forced to trade the market and manage large positions because selling entire lots in one shot would obviously be counter productive. In fact if you have a huge amount of bitcoin and fiat on the exchanges then "manipulating" the price would be a profitable venture.
Wow. OP is still saying the same shit. Thanks for that.
I remember that time when we first bounced off $2 for real, and everyone was buying. I really laughed at Edward while running to the bank to do a wire to mtgox (too small of a wire, in retrospective, but anyway, served much better than believing in "TEH MANIPULATOR").
Wow. OP is still saying the same shit. Thanks for that.
OP? Really?
The mistake of that OP, back in 2011, not the same as the OP in this thread, was that he didn't
understand where the bottom was. Mid November 2011, after a long bear market, the price dropped
from 32$ (in June) to 2$, and that 2$ was strong support, proved by the huge volume.
By comparison with 2011, the current bubble is like late June, early July, when price was relatively stable 13$ - 17$.
Wow. OP is still saying the same shit. Thanks for that.
A dip into the bowels of old BitcoinTalk threads always helps put things in perspective.
Agreed. My memory doesn't do it justice.
Wow. OP is still saying the same shit. Thanks for that.
A dip into the bowels of old BitcoinTalk threads always helps put things in perspective.
Wow. OP is still saying the same shit. Thanks for that.
Missed probably one of the greatest opportunitys in his lifetime to get very very wealthy. Arguing about 2 or 3 $ bitcoins ha! No wonder he hates BTC. Lesson should be learned by looking at Edward. Living your life full of regret SMH
Wow. OP is still saying the same shit. Thanks for that.
Back in 2011 "the manipulator" threads were far better.
I miss those
Could anyone provide a link? Thanks
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