Author

Topic: Does no one else think it's a joke that OKcoin controls the price of bitcoin? (Read 1110 times)

legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
No one controls the price.  Roll Eyes

Personally I think the BTC market is more rigged than the NYSE with its trading bots.
I'm sure there are players who try in all markets. However I don't think it's rigged. That would require some control over what others can do. There are many mechanisms for that in fiat/NYSE. But in BTC markets anyone can (and will) come in an spoil your party. If some evidence showed it then I would be more inclined to believe it. Whenever I pursue such evidence I find the source is just an opinion with no facts to support it. Something like:

A) "The market is being manipulated!!!!!"
B) "Oh, how do you know?"
A) "because I just lost $300!!!"
B) "Hmmm..."
sr. member
Activity: 442
Merit: 250
Most of the traders try to profit by looking at the okcoin price movement... I listened to whaleclub teamspeak once, they were screaming like little girls every time okcoin price moved for 5CNY. This is the real problem.
legendary
Activity: 1246
Merit: 1000
No one controls the price.  Roll Eyes

Personally I think the BTC market is more rigged than the NYSE with its trading bots.
newbie
Activity: 57
Merit: 0
NotSoOkCoin does have Mount Cocks like vibes.  Undecided
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
No one controls the price.  Roll Eyes
hero member
Activity: 560
Merit: 500
its just puzzling we leave the entire short term faith of bitcoin into a chinese company that has proven to be duplicitous in its behavior for years.

You are right, we'd rather have that with a Japanese company.

Haha.

But really these are important issues for btc, the fact that these large exchanges are seemingly incompetent and/or shady.  Not sure I really trust any of them at the moment.
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
its just puzzling we leave the entire short term faith of bitcoin into a chinese company that has proven to be duplicitous in its behavior for years.

You are right, we'd rather have that with a Japanese company.
sr. member
Activity: 366
Merit: 261
I don't think okcoin controls the price.
I used to feel that bitfinex is the one that mostly controls it. And sometimes btc-e.
legendary
Activity: 896
Merit: 1000
it's not really an issue. if traders on okcoin don't control the price then traders on huobi or bitfinex will. money controls everything, the exchange doesn't matter.
legendary
Activity: 1120
Merit: 1000
8up
hero member
Activity: 618
Merit: 500
because people like drama.
legendary
Activity: 3248
Merit: 1070
i believe that many traders that trade there are chinese only, then when you have something that it's already big since its birth, you know that it will only get bigger, unless some major flaw is discovered and coins are stolen
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
full member
Activity: 179
Merit: 100
Seriously?

Why do people trade on that garbage website? People get margin called last night in a gigantic wave and the website crashes because of mice, ddos, and floods of connection requests.

So what, Greece's leading political party accepts a bailout that is fraught with pot holes and still needs to pass its parliament where now they have to fork over collateral to receive 50b euros, while the ECB literally plans to print 1.2trillion euros within 2 years to crush bond yields.

its just puzzling we leave the entire short term faith of bitcoin into a chinese company that has proven to be duplicitous in its behavior for years. But people still think they can trade the shit out of bitcoin while they are just paddling down a river to a waterfall they cant see.

just bizarre, really....
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