So MtGox was the cause of the two last bubbles?
Come back Karpeles, all is forgiven...
Topic: For people still in denial about willy - page 4. (Read 6565 times)
i've said it before and i'll say it again - the entire runup of bitcoin from a stable(ish) 100 (that 100 value was arguably heavily manipulated in the first place by artificial capital of previous fraudulent exchanges / drug money driven by the silk road) to the all time high price in the 1200s was driven by a *BILLION* non-existent dollars that MtGox used to "buy" bitcoin off of their own fraudulent exchange (which was at the time by far the highest volume exchange on the planet) ... and just to repeat that for the slow folks ... they used a *BILLION* dollars in fake capital to cause that rise in price ... and you all wonder why people think bitcoin is a scam ? ? ?
Isn't the dollar worse off in that sense then??
My friend, you're very shortsighted. When we're talking about such a big thing as a decentralized world economy system, you must look at the big picture.
- how do you figure that ? i mean logic-wise ? if i lived in wherever-stan (or japan prior to any regulation) and opened up an intentionally fraudulent/unregulated bitcoin exchange and ran it in the opposite direction (using fake btc to acquire real fiat dollars) it would be similarly possible to pull off the exact same scam ... in the case of mtgox they needed a certain amount of real cash to cover withdrawals in the 2 months they caused that price rise (which was provided by the people trading there of course) ... in the case of a theoretical fraudulent exchange using fake btc they would simply need an adequate amount of real btc (provided by the people trading there of course) to cover the requested withdrawals ... or actual cash on a different "real" exchange to purchase and send out real btc requested as withdraws ... so to answer your question NO ... fake numbers are fake numbers when youre talking about a fraudulently run exchange be it fraudulent dollars or fraudulent btc ... all you need is adequate runup capital to cover requested withdrawals while you rob everyone blind ... also all the btc in the world wouldn't budge the us dollar by even a fractional amount while all it takes is a billion fake dollars on a fraudulent exchange to jack the price of btc up 1000% ... i'd say btc is far worse off ...
- it's been estimated that there are less than 1,000,000 people worldwide who hold any amount of btc at all ... with most wallets holding dust (less than 0.1btc) ... a million people out of the global population of 7 billion is 0.0142857 % of the population ... the country of djibouti is a good equivalent comparison (tiny hellhole on the african coast tucked between somalia and ethiopia for those who aren't familiar with where that is or want to look it up) ... definitely not a "world economy system" ...
i've said it before and i'll say it again - the entire runup of bitcoin from a stable(ish) 100 (that 100 value was arguably heavily manipulated in the first place by artificial capital of previous fraudulent exchanges / drug money driven by the silk road) to the all time high price in the 1200s was driven by a *BILLION* non-existent dollars that MtGox used to "buy" bitcoin off of their own fraudulent exchange (which was at the time by far the highest volume exchange on the planet) ... and just to repeat that for the slow folks ... they used a *BILLION* dollars in fake capital to cause that rise in price ... and you all wonder why people think bitcoin is a scam ? ? ?
Isn't the dollar worse off in that sense then??
My friend, you're very shortsighted. When we're talking about such a big thing as a decentralized world economy system, you must look at the big picture.
i've said it before and i'll say it again - the entire runup of bitcoin from a stable(ish) 100 (that 100 value was arguably heavily manipulated in the first place by artificial capital of previous fraudulent exchanges / drug money driven by the silk road) to the all time high price in the 1200s was driven by a *BILLION* non-existent dollars that MtGox used to "buy" bitcoin off of their own fraudulent exchange (which was at the time by far the highest volume exchange on the planet) ... and just to repeat that for the slow folks ... they used a *BILLION* dollars in fake capital to cause that rise in price ... and you all wonder why people think bitcoin is a scam ? ? ?
You know it's funny that people are still yapping about the willy bot.
At this stage, if the theory indeed is true, it would only be bullish anyway.
If you wanted to help somebody, you should of said this at $800+
At this stage, if the theory indeed is true, it would only be bullish anyway.
If you wanted to help somebody, you should of said this at $800+
yes, it seems like Willy caused a nasty bubble with a resulting year-long bear market causing significant negative sentiment both due to the volatility and the price drop. Hopefully the exchange market has been taken over by more responsible companies now and in 2015 we'll see less volatility and instead a price that reflect the steady worldwide adoption.
95% of volume is traded in china(hong kong). ... Do you trust in china ? China does not respect basic human rights.
yes, it seems like Willy caused a nasty bubble with a resulting year-long bear market causing significant negative sentiment both due to the volatility and the price drop. Hopefully the exchange market has been taken over by more responsible companies now and in 2015 we'll see less volatility and instead a price that reflect the steady worldwide adoption.
I agree that bots played the cricial role in the two amazing bubbles, but they also pushed bitcoin to where it is today, so regardless of what bots did, bitcoin is now in stage to make another run,
bots or no bots.
cheers
bots or no bots.
cheers
Get out of my thread if you resort to this kind of fallacious reasoning. Your opinion that "bitcoin is now in stage to make another run," is no conclusion of anything in this sentence.
Actually there is nothing concrete like there is for the Willy & Markus bots, but there is this blog post which was originally posted during the 2011 hype.
http://nerdr.com/bitcoin-exchange-scam-bitcoins-are-worthless/
That was all straight out denied and even ridiculed as made up back then, but now in light of what we've seen in hindsight that's a different story.
If you put it all together there is now a plausible scenario in which the entirety of Bitcoin trading was manipulated using fake money.
http://nerdr.com/bitcoin-exchange-scam-bitcoins-are-worthless/
That was all straight out denied and even ridiculed as made up back then, but now in light of what we've seen in hindsight that's a different story.
If you put it all together there is now a plausible scenario in which the entirety of Bitcoin trading was manipulated using fake money.
To be honest, back then if u were to say that bitcoin isnt the second coming of the lord and savior, you would be laughed out of the conversation..
I agree that bots played the cricial role in the two amazing bubbles, but they also pushed bitcoin to where it is today, so regardless of what bots did, bitcoin is now in stage to make another run,
bots or no bots.
cheers
Actually there is nothing concrete like there is for the Willy & Markus bots, but there is this blog post which was originally posted during the 2011 hype.
http://nerdr.com/bitcoin-exchange-scam-bitcoins-are-worthless/
That was all straight out denied and even ridiculed as made up back then, but now in light of what we've seen in hindsight that's a different story.
If you put it all together there is now a plausible scenario in which the entirety of Bitcoin trading was manipulated using fake money.
http://nerdr.com/bitcoin-exchange-scam-bitcoins-are-worthless/
That was all straight out denied and even ridiculed as made up back then, but now in light of what we've seen in hindsight that's a different story.
If you put it all together there is now a plausible scenario in which the entirety of Bitcoin trading was manipulated using fake money.
To be honest, back then if u were to say that bitcoin isnt the second coming of the lord and savior, you would be laughed out of the conversation..
I agree that bots played the cricial role in the two amazing bubbles, but they also pushed bitcoin to where it is today, so regardless of what bots did, bitcoin is now in stage to make another run,
bots or no bots.
cheers
ohhhhhh, so a trading bot was responsible for faking a market rise that is still up over 8 Million Percent since its inception only five years ago. 
Actually there is nothing concrete like there is for the Willy & Markus bots, but there is this blog post which was originally posted during the 2011 hype.
http://nerdr.com/bitcoin-exchange-scam-bitcoins-are-worthless/
That was all straight out denied and even ridiculed as made up back then, but now in light of what we've seen in hindsight that's a different story.
If you put it all together there is now a plausible scenario in which the entirety of Bitcoin trading was manipulated using non-existing liquidity.
*this chart ends where OP's chart begins
Which bot was responsible for the previous bubbles?
mtgox was THE bitcoin exchange.
so we can assume that willy bot was active from the beginning of time.
ohhhhhh, so a trading bot was responsible for faking a market rise that is still up over 8 Million Percent since its inception only five years ago.
Also, the last rise ($1200 bubble) completely retraced, in case you haven't noticed.
*this chart ends where OP's chart begins
Which bot was responsible for the previous bubbles?
mtgox was THE bitcoin exchange.
so we can assume that willy bot was active from the beginning of time.
ohhhhhh, so a trading bot was responsible for faking a market rise that is still up over 8 Million Percent since its inception only five years ago.
*this chart ends where OP's chart begins
Which bot was responsible for the previous bubbles?
The 2011 bubble was made so early and with such a tiny marketcap that doesn't even compare to the magnitude of the other two bubbles.
Again, nobody is saying that the mtgox bots were the only CAUSE of the last two bubbles (in the $1200 one china played a major role too), just that their impact is obvious, and by having a bot providing constant buy pressure (pushing the price up and absorbing downward corrections) that attracts new speculators, more money and more confidence overall in a feedback loop was one of the reasons why the bubble went that far and was clearly unsustainable.
*this chart ends where OP's chart begins
Which bot was responsible for the previous bubbles?
mtgox was THE bitcoin exchange.
so we can assume that willy bot was active from the beginning of time.
i hope, it come again and rise the price to 2k at the very least
but i think it was helped by chinese, or maybe was a chinese bot?
but i think it was helped by chinese, or maybe was a chinese bot?
*this chart ends where OP's chart begins
Which bot was responsible for the previous bubbles?
A chart says more than thousand words:
from: http://blog.wizsec.jp/2015/02/mtgox-investigation-release.html
from: http://blog.wizsec.jp/2015/02/mtgox-investigation-release.html
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