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Topic: How about we steer the value of a Bitcoin? - page 2. (Read 2414 times)

newbie
Activity: 14
Merit: 0
January 31, 2014, 07:10:10 PM
#6
Yes i realise that market steering like that could be senteced to life prison. Im not saying im going to do this... It's just a concept that i threw in. Did you noticed anything strange about bitcoin behavior in november and april 2013? Smiley

Look at the volume pushed through the market... did you noticed how overpriced the trasactions were? Smiley

Have you ever heard that some wealthy billionare threw some national bank to its knees by just pushing some huge amount of money through forex exchange? Was he sentenced to jail? No...

Food for thought:
a) If you have one bitcoin, that is 1/21mln part of all bitcoin capital that will ever exist on the market... If you consider global wealth and try to estimate it just for US, it will be something around M3 definition. M3 is M2+something more than M2 i assume. If M2 is 10,2 trillion USD and M1 is 1,2 trillion, So M3 (total USD) would be (10,2/1,2)*10,2=86,7T$ (http://money.howstuffworks.com/how-much-money-is-in-the-world.htm)
b) If you assume that other countries have 10 times more wealth in total, compared to USA wealth (take saudi arabia for example, they sure have a lot of money, maybe as much as half of USA) you can make a conclusion that total world wealth translated to $ i 860,7T$.
c) If George Soros was able to throw down bank of England because of his one billion of dollars (that is 1/860700 of global wealth) are you able to throw down the bank of england by trading on bitcoin volume that would be equvalent of 1 billion dollars?
d) How much you would have to trade to throw down all the banks?
hero member
Activity: 907
Merit: 660
Do due diligence
January 31, 2014, 06:43:09 PM
#5
"steer" and "value" between 2 or more people begins to feel like sketchy collusion and potential prison sentences.
hero member
Activity: 1092
Merit: 500
Life is short, practice empathy in your life
January 31, 2014, 06:05:11 PM
#4
Mt.Gox has been doing this for years.  Grin
sr. member
Activity: 392
Merit: 250
January 31, 2014, 05:37:01 PM
#3
You do understand that this would only work if those two people are literally the only two people trading on that exchange?
member
Activity: 95
Merit: 10
January 31, 2014, 05:28:23 PM
#2
I think you're trolling; that's just a guess though.

So you want someone to set up a fee-less exchange whose only participants are those that trade their own capital at a net sum of zero?

How does it even benefit these two parties colluding together? Do you think this will drive up the market price on other exchanges? Is that the point you're trying to make?
newbie
Activity: 14
Merit: 0
January 31, 2014, 04:04:01 PM
#1
So lets imagine two people buys 2 bitcoins each. I buy 2 bitcoins and you buy 2 bitcoins.

- Lets say current bitcoin price is 900$
- I sell you my bitcoin for say... 1000$
- You have 3 bitcoins now and -1000$. And i have your 1000$ but just 1 bitcoin
- Now lets say You sell me yor bitcoin for 1000$
- Now i have +0$ and again we both have 2 bitcoins and you have +0$.
- Now we repeat these steps over and over again... market average will show bitcoin price moving up...
- We can repeat until infinity until market average equals our trade...

We have just set a new market price for bitcoin.

We both now have 2 bitcoins each but we both earned 100$ for each bitcoin we had in the beginning.

Its totaly doable because of the small volume exchange/day on the market. 1 Bitcoin traiding back and forth can set up the new price level!

Everything cool but we will need a currency exchange without any provision!

Can someone please create a website simillar to other currency exchange platforms that will enable stuff above to happen?
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