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Topic: Do the Banks manipulate Bitcoin? - page 2. (Read 2283 times)

HBBZ

sr. member

Activity: 570

Merit: 250

Quote from: afbitcoins on March 15, 2013, 06:14:26 AM

I don't trust my bitcoins with any third party, learned my lesson with bitcoinica.

MMM，i'm taking my coins at mtgox back to my local wallet now. Thanks for the risk alert. Shocked

silverfuture

legendary

Activity: 947

Merit: 1008

central banking = outdated protocol

Bitcoin is going to pwn the banks. It will be funny.

edit- OP... I am in a similar savings (hoarding is for liberals!) situation as you in holding pre-bubble '11 coins. I invested only what I can afford to lose but bitcoin fucking rocks and it is money worth saving. Thank you every one who participates...you are changing the world for the better.

afbitcoins

legendary

Activity: 2101

Merit: 1061

I don't trust my bitcoins with any third party, learned my lesson with bitcoinica.

Odalv

legendary

Activity: 1414

Merit: 1000

Quote from: Odalv on March 14, 2013, 04:35:12 PM

Quote from: Odalv on March 14, 2013, 04:12:52 PM

First!, you have to buy

Or, borrow.

Of course, that means...

Quote from: klee on March 14, 2013, 03:17:16 PM

Are they the sharks and most of us the fish that gonna be eaten? Cool

If they're the sharks, the true believers lending them BTC to short with (and extracting heavy interest in exchange) are shark-farmers.

+1 we will see what you do. :-)
[/quote

see = hear, fell and see (just free market)

Odalv

legendary

Activity: 1414

Merit: 1000

Quote from: Qoheleth on March 14, 2013, 04:19:29 PM

Quote from: Odalv on March 14, 2013, 04:12:52 PM

First!, you have to buy

Or, borrow.

Of course, that means...

Quote from: klee on March 14, 2013, 03:17:16 PM

Are they the sharks and most of us the fish that gonna be eaten? Cool

If they're the sharks, the true believers lending them BTC to short with (and extracting heavy interest in exchange) are shark-farmers.

+1 we will see what you do. :-)

klee

legendary

Activity: 1498

Merit: 1000

If a bank wants to buy/sell/short (or whatever) bitcoins, how is it gonna justify these transactions to the regulators?
I am sure they can find many ways to cover their traces and appear legit but still find it hard to believe they can perform big volume illegitimate transactions (which can 'crush' bitcoin economy) without being noticed. Or it is just that the btc market cap is a joke for Goldman Sachs or JP Morgan...

I hope my writings make sense because English is my second language!

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: Odalv on March 14, 2013, 04:12:52 PM

Bank can go short when have Bitcoin, If you have no Bitcoin then you cannot selll Bitcoin under market price.

Not quite true. For example, all Mt Gox trades take place within their internal database. It is theoretically possible for them to allow a customer to sell bitcoins they don't actually have. The scam could be covered up for a long time unless their customers regularly withdraw their entire Bitcoin balance. If everybody demanded their Bitcoins at the same time it would quickly become apparent if they had sold more bitcoins than they actually had, and the scheme would unravel very quickly.

Note that if you have a large BTC balance at Mt Gox you aren't allowed to withdraw it all at once, which is a very good reason to keep your bitcoins in your own wallet instead of theirs.

Qoheleth

legendary

Activity: 960

Merit: 1028

Spurn wild goose chases. Seek that which endures.

Quote from: Odalv on March 14, 2013, 04:12:52 PM

First!, you have to buy

Or, borrow.

Of course, that means...

Quote from: klee on March 14, 2013, 03:17:16 PM

Are they the sharks and most of us the fish that gonna be eaten? Cool

If they're the sharks, the true believers lending them BTC to short with (and extracting heavy interest in exchange) are shark-farmers.

Odalv

legendary

Activity: 1414

Merit: 1000

Quote from: klee on March 14, 2013, 03:17:16 PM

So the guy in this video claims it gonna fall around 15$ when banks start to short:

http://www.thebitcoinchannel.com/archives/661
(http://www.youtube.com/watch?feature=player_embedded&v=qBuJEwsmdik)

What is your opinion about this? And for comparing bitcoin with silver?

Are they the sharks and most of us the fish that gonna be eaten? Cool

PS: I am a hoarder having faith who did not sell in the first bubble burst in 2011 nor in the last two corrections...

Bank can go short when have Bitcoin, If you have no Bitcoin then you cannot selll Bitcoin under market price. First!, you have to buy, then you can sell under market price ... will this make money for bank, let's try bank and shorting are welcome. :-) (this will only stabilize price)

klee

legendary

Activity: 1498

Merit: 1000

PS: I am a hoarder having faith who did not sell in the first bubble burst in 2011 nor in the last two corrections...