Exchange DDOSing and the LTC Dump coming

anderl

hero member

Activity: 714

Merit: 500

Quote from: thef on June 26, 2013, 05:52:57 PM

Really? 50 litecoins every 2.5 minutes is 12000 coins in 10 hours. Not all of them are going to be sold, so even if half of those are dumped immediately as BTC-e goes online, it won't make a huge difference in the price.

But they put current buyers at a loss, so they might panic sell. Also It might trigger bots to action. I'm just speculating.

Oh and I guess BTc-e is back online. lol

thef

full member

Activity: 154

Merit: 100

Really? 50 litecoins every 2.5 minutes is 12000 coins in 10 hours. Not all of them are going to be sold, so even if half of those are dumped immediately as BTC-e goes online, it won't make a huge difference in the price.

defaced

legendary

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Franko is Freedom

hah perhaps.

anderl

hero member

Activity: 714

Merit: 500

There have been a lot of exchanges that so happen to have maintenance scheduled all that the same time. Now BTC-e is down for a prolonged period of time. If I were running an exchange I would want high availability and keep at least 2 servers up and running one to take down to to maintenance while the other one hosts the site in production. But that is besides the point.

Btc-e is the biggest LTC trading exchange. With it being down for a period of time I expect that miners who need to sell LTC to pay expenses will build up a lot of LTC that will be dumped on to the market at the same time. That drops LTCs price.

Now what stops someone from coordinating multiple DDOSs of all the LTC exchanges to build up and supply of LTC in miner hands. When you feel that enough people have LTC they want to sell you stop the DDOS and now you get the price action you intended. A drop in LTC price. Why would you want to crash the price of LTC? Because you missed the boat and you want to pick up the shares that the miners will be dumping.

Thoughts?

Topic: Exchange DDOSing and the LTC Dump coming (Read 512 times)