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Topic: It is time to question Poloniex market manipulation (Read 4648 times)

newbie
Activity: 4
Merit: 0
Just try to see Polo order book, and found something weird (for me).

http://s33.postimg.org/d8n8bigwv/Screenshot_9.jpg

Belive me or not, those BIG Volume always moving.
The first time i found it at 0.025, then when price down, it moves to 0.024, then moves again to 0.032

http://s33.postimg.org/gx618dov3/Screenshot_2.jpg

For me, that looks fishy.  Grin
legendary
Activity: 1148
Merit: 1048
It's blatantly obvious Eth is and has been wash traded by a single entity on Poloniex for literally months now.  Their fee structure is setup where someone pushing that volume would have 0.10% taker fees and 0.0% maker fees, so 0.05% if wash traded.

On a slow Eth day of 20,000 BTC volume, that would be 100 BTC per day in wash trade fees.  Does anyone honestly believe the Poloniex Eth manipulators pay that much?  Hell no.  

Why is Poloniex doing backroom deals with market manipulators to artificially pump coins to defraud investors?  It's different if some random guy like Wolong decides to pump a random shit coin, but when the exchange itself is involved in the scheme (like Bittrex has been accused of with Bobsurplus), it's pretty questionable.

me too, this is what i always think and believed poloniex is doing. it is illegal in every ways. i hope SEC look into this now rather then later.

Honestly, any exchange that allows participants to place orders in "not good" faith is in violation. All orders must be placed with the intention for fulfillment, but I regularly see massive walls placed simply to scare other traders into dumping/pumping. That vanish once someone starts to buy/sell into them.
legendary
Activity: 1624
Merit: 1008
Yeah... too much conspiracy. Cheesy

More like simple math.

It's blatantly obvious Eth is and has been wash traded by a single entity on Poloniex for literally months now.  Their fee structure is setup where someone pushing that volume would have 0.10% taker fees and 0.0% maker fees, so 0.05% if wash traded.

On a slow Eth day of 20,000 BTC volume, that would be 100 BTC per day in wash trade fees.  Does anyone honestly believe the Poloniex Eth manipulators pay that much?  Hell no. 



20,000*0,05%=10?



simple math Huh Shocked
legendary
Activity: 1764
Merit: 1000
It's blatantly obvious Eth is and has been wash traded by a single entity on Poloniex for literally months now.  Their fee structure is setup where someone pushing that volume would have 0.10% taker fees and 0.0% maker fees, so 0.05% if wash traded.

On a slow Eth day of 20,000 BTC volume, that would be 100 BTC per day in wash trade fees.  Does anyone honestly believe the Poloniex Eth manipulators pay that much?  Hell no.  

Why is Poloniex doing backroom deals with market manipulators to artificially pump coins to defraud investors?  It's different if some random guy like Wolong decides to pump a random shit coin, but when the exchange itself is involved in the scheme (like Bittrex has been accused of with Bobsurplus), it's pretty questionable.

me too, this is what i always think and believed poloniex is doing. it is illegal in every ways. i hope SEC look into this now rather then later.
grv
full member
Activity: 177
Merit: 100
r0ach and I have our disagreements,

But he could be spot on about Poloniex.

The changes to their fee structure recently does seem to indicate they are trying to draw in more large investors which indicates they are hurting for money.


yeah that was a red flag for me just like with craptsy
plus another red flag which is daily withdrawal "limits" for crypto
(aka "to stop bankrun on wallets because we run on fractional reserve")

better safe than sorry

dont trust "exchanges" that run without multisig wallets
crypto exchanges should be trustless just like bitcoin, fully transparent, public transactions with all trades verifiable against multisig addresses

I hadn't paid attention to their wallets.  They don't use any type of multisig or anything?

i dont think there's exchange with that support, most are on gox level of security

bitsquare uses 23multisig, but they are in beta
legendary
Activity: 1260
Merit: 1000
r0ach and I have our disagreements,

But he could be spot on about Poloniex.

The changes to their fee structure recently does seem to indicate they are trying to draw in more large investors which indicates they are hurting for money.


yeah that was a red flag for me just like with craptsy
plus another red flag which is daily withdrawal "limits" for crypto
(aka "to stop bankrun on wallets because we run on fractional reserve")

better safe than sorry

dont trust "exchanges" that run without multisig wallets
crypto exchanges should be trustless just like bitcoin, fully transparent, public transactions with all trades verifiable against multisig addresses

I hadn't paid attention to their wallets.  They don't use any type of multisig or anything?
grv
full member
Activity: 177
Merit: 100
r0ach and I have our disagreements,

But he could be spot on about Poloniex.

The changes to their fee structure recently does seem to indicate they are trying to draw in more large investors which indicates they are hurting for money.


yeah that was a red flag for me just like with craptsy
plus another red flag which is daily withdrawal "limits" for crypto
(aka "to stop bankrun on wallets because we run on fractional reserve")

better safe than sorry

dont trust "exchanges" that run without multisig wallets
crypto exchanges should be trustless just like bitcoin, fully transparent, public transactions with all trades verifiable against multisig addresses
legendary
Activity: 3976
Merit: 1421
Life, Love and Laughter...
Exactly.  He was an avid follower of the Larimers once.  He defended them even when the Larimers were sucking the Bitshares community dry.  Now he sold all his BTS and is making whining these boards his hobby.

Wrong.  I talked to Larimer stating why their system wasn't anti-fragile enough and needed to be changed, but nobody else seemed to think so they were too busy picking all the flesh off the bones of their victims of which I was one.  The bitshares forum is a giant echo chamber.

FTFY



Hahahaha.  Nice.  Keep 'em coming for Roach's sake.
legendary
Activity: 1260
Merit: 1000
Well yea, all PoS systems are useless.  Just like unprofitable PoW is also useless (the come from beyond and anonymint idea).  Nobody has improved on Bitcoin at all yet.
legendary
Activity: 1162
Merit: 1042
White Male Libertarian Bro
Exactly.  He was an avid follower of the Larimers once.  He defended them even when the Larimers were sucking the Bitshares community dry.  Now he sold all his BTS and is making whining these boards his hobby.

Wrong.  I talked to Larimer stating why their system wasn't anti-fragile enough and needed to be changed, but nobody else seemed to think so they were too busy picking all the flesh off the bones of their victims of which I was one.  The bitshares forum is a giant echo chamber.

FTFY

legendary
Activity: 1260
Merit: 1000
Exactly.  He was an avid follower of the Larimers once.  He defended them even when the Larimers were sucking the Bitshares community dry.  Now he sold all his BTS and is making whining these boards his hobby.

Wrong.  I talked to Larimer stating why their system wasn't anti-fragile enough and needed to be changed, but nobody else seemed to think so.  The bitshares forum is a giant echo chamber.
legendary
Activity: 3976
Merit: 1421
Life, Love and Laughter...
So much sour grapes

Exactly.  He was an avid follower of the Larimers once.  He defended them even when the Larimers were sucking the Bitshares community dry.  Now he sold all his BTS and is making whining these boards his hobby.
sr. member
Activity: 686
Merit: 270
FREEDOM RESERVE
So much sour grapes
newbie
Activity: 21
Merit: 0
Yeah... too much conspiracy. Cheesy

More like simple math.

It's blatantly obvious Eth is and has been wash traded by a single entity on Poloniex for literally months now.  Their fee structure is setup where someone pushing that volume would have 0.10% taker fees and 0.0% maker fees, so 0.05% if wash traded.

On a slow Eth day of 20,000 BTC volume, that would be 100 BTC per day in wash trade fees.  Does anyone honestly believe the Poloniex Eth manipulators pay that much?  Hell no. 



20,000*0,05%=10?

legendary
Activity: 1960
Merit: 1176
@FAILCommunity
bl234st is right for one thing. Judging by your threads and posts, you are looking like a very negative person. I'm not blaming you, I'm just pointing to the facts...

Sorry to be rude, but maybe your brain power is just slightly lacking since you don't realize there are 5 billion alts and 99.9% of them are scams.  While you're performing fellatio on the scammers, most people know that none of these things have improved on BTC at all besides zk-snarks and ring signatures for anonymity (Zcash and Monero).  People like Belcher have already worked on p2p coinjoin for Bitcoin, so there's probably no reason for DASH to exist.  When I say "improved", it's not really clear on-chain anonymity will even be useful when you have to scale off-chain or via transaction bundling (2nd tier LN type solutions).

As for $martcontract$, Ethereum was just a joke from the start.  Releasing an IPO cash grab for a coin they didn't know how to make work, and we're now seeing likely not possible to work beyond a proof of concept level.  So yes, when speaking about altcoins, there's not a whole lot to be positive about.  You likely have a few video cards laying around you mine scamcoins with and instantly dump them, so your attitude towards them is positive as a money source.  If you look at them from the perspective of investing actual money, then logging on an altcoin exchange is like a Bernie Madoff theme park.

There may be not 5, but 50 billion coins, from which 99.99% are scams, but you just proved that you'd prefer to just trolling, instead at least try to make some researches. One of the proofs is that you are talking to me in this way. Frankly speaking, if you do that in real life, and in front of me, you'll be in deep trouble.

You may think that I am "performing fellatio on the scammers", but where is your proof for that? If you look more carefully you'll realize that I am everything, but a scammer (or their supporter). And at least I am trying to do something positive!
legendary
Activity: 3976
Merit: 1421
Life, Love and Laughter...
And I like the new fee structure.  It encourages people to make more limit orders making the market more liquid.
legendary
Activity: 3976
Merit: 1421
Life, Love and Laughter...
legendary
Activity: 1092
Merit: 1000
r0ach and I have our disagreements,

But he could be spot on about Poloniex.

The changes to their fee structure recently does seem to indicate they are trying to draw in more large investors which indicates they are hurting for money.

Previous thoughts on the matter:

I dont get the meaning of these at all,poloniex is taking a good income daily and huge volume more then enough to keep smiling ,now because other exchange gone,and the fees changed people start the countdown.Why dont you speculate about the others exchanges as well?

Funds missing on Bittrex ,  No speculation there.  Tongue
https://bitcointalksearch.org/topic/multiple-bittrex-accounts-hacked-everyone-enable-2fa-1423584

Reason so much speculation on Poloniex is that they seem to be a mimic of Cryptsy six months before their crash.
(When everyone thought everthing was wonderful , with high trading volume and the fact coins sold for more on cryptsy than other exchanges)
(Turned out they were pulling a fractional reserve on everyone and lying thru their teeth.)

I mean if everything was really great , why the fee change to try and entice the uber rich to trade there , by almost making it free for them.
* This means they will actually make less money in the long run.*  (Just something to think about) Wink
With Cryptsy gone, Poloniex became the top US Exchange, because very few like Delistrex, there was no need for a fee change, ( unless you believe the top exec thought to himself , we are making too much money, better make it cheaper for the rich to trade here.)  Tongue

As with all exchanges whether you believe their foundation is solid or not,
Never Leave more Coins sitting than what you are willing to Lose!

 Cool

FYI:
http://www.investopedia.com/articles/financial-theory/10/spotting-companies-in-financial-distress.asp
Quote
Or when a company all of a sudden starts slashing prices, you have to ask yourself: "Why?" It may mean that the company is in a big rush to increase sales volume and get more cash into the business– regardless of potentially detrimental impact of such a move long term impact on profits or its brand. A desperate grab for cash – also witnessed when companies suddenly start selling off core business assets – could be a sign that suppliers or lenders are banging at the door.

FYI2:
Plus we have no way of knowing if all of that Volume is truly from traders or if Poloniex is just artificially trading to pump their volume with automated trading.
Watch their https://poloniex.com/exchange#btc_eth  market , it is nothing but a computer trading.


In the Changing of the FEE News @ Poloniex Exchange
Starts March 20th, 2016
https://poloniex.com/fees/

Quote
Every 24 hours, we will calculate the last 30 days of trading volume on your account and dynamically adjust your fees according to the following schedule:
Maker    Taker    Trade Volume (trailing 30 day avg)
0.15%    0.25%    < 600 BTC
0.14%    0.24%    = 600 BTC
0.12%    0.22%    = 1,200 BTC
0.10%    0.20%    = 2,400 BTC
0.08%    0.16%    = 6,000 BTC
0.05%    0.14%    = 12,000 BTC
0.02%    0.12%    = 18,000 BTC
0.00%    0.10%    = 24,000 BTC

OK, which one of you guys is spending 24,000 btc a month?   Wink

Back to Sanity, I don't know why but it seems like everytime these exchanges get into trouble behind the scenes, they start changing their fee structure.  Could just be a coincidence , but a friendly reminder on Poloniex .

Never Leave more coins sitting on an exchange than what you are willing to Lose!!!


Cryptsy changed their Fee structure to favor traders and in less than 6 months they were done , and now Poloniex is doing something similar.   Tongue

Starting the 6 month timer.
http://www.timeanddate.com/countdown/generic?iso=20160920T0001&p0=412&msg=Poloniex+Exchange+Still+Open+or+Forever+Closed!!!&font=cursive


 Cool
legendary
Activity: 1260
Merit: 1000
bl234st is right for one thing. Judging by your threads and posts, you are looking like a very negative person. I'm not blaming you, I'm just pointing to the facts...

Sorry to be rude, but maybe your brain power is just slightly lacking since you don't realize there are 5 billion alts and 99.9% of them are scams.  While you're performing fellatio on the scammers, most people know that none of these things have improved on BTC at all besides zk-snarks and ring signatures for anonymity (Zcash and Monero).  People like Belcher have already worked on p2p coinjoin for Bitcoin, so there's probably no reason for DASH to exist.  When I say "improved", it's not really clear on-chain anonymity will even be useful when you have to scale off-chain or via transaction bundling (2nd tier LN type solutions).

As for $martcontract$, Ethereum was just a joke from the start.  Releasing an IPO cash grab for a coin they didn't know how to make work, and we're now seeing likely not possible to work beyond a proof of concept level.  So yes, when speaking about altcoins, there's not a whole lot to be positive about.  You likely have a few video cards laying around you mine scamcoins with and instantly dump them, so your attitude towards them is positive as a money source.  If you look at them from the perspective of investing actual money, then logging on an altcoin exchange is like a Bernie Madoff theme park.
hero member
Activity: 532
Merit: 500
Everytime this guy posts we need this:

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