Massive bitcoin manipulation possible? - page 6.

pinoyden

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Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

yes it is possible, thats why we have whales. whales are group of people or individual that is so powerful and extremly rich that he buys a massive amount of bitcoin to somehow manipulate the bitcoin markets. not only bitcoin but also some other coins like bitcoincash which was happened lately.

gabmen

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Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

Lol. Obviously if they have that much btc, they'd be able to play with the market whenever they want. It just depends now if we can ride the waves created by what these whales are doing.

Monta3002

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Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

Yes it is possible. Like what is happening in the market today was planned, my friend sent me a news about the dumping of bitcoin and pumping of bitcoin cash and what's going in the market is true of what I read. It was made by traders to get some profit on bitcoin cash but it is only for a while. Bitcoin cash now will dump and bitcoin will pump.

waynechong1995

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swing!

I believe there are some sort of connections between big whales or powerful media before making big moves in market, it's already happening with strategic FUD, conspiracy going on with the price and the parties publicly bashing each other. Pump and dump is less likely but they could easily drive the market up with unknown orders and everything seems to be too good for them. That's way i stay away from this market as the current bitcoin market is increasingly unpredictable, like it could go high in days and was justified by some incoming fork, but every decision seems so volatile and fragile, no real improvement has been made on the network, hmm seems like manipulation for me.

CuriousGeorge

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Quote from: hase0278 on November 13, 2017, 07:31:08 AM

Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

It is very possible and one great proof of that is what happened in the market in the past few days. In fact, Jihan Wu and others who participated cannot be considered extremely rich yet, but they have successfully manipulated btc even for a bit. What would happen when those elites move to pump and dump btc? I am sure price would be manipulated for a period of time after this happen and it will last for a long time.

I guess that they didn't directly manipulate the bitcoin with their wealth? my assumption is that by spreading fake news they keep telling the bitcoin miners to switch to BCH because it's to be said
more profitable than mining bitcoin and succesfully getting support from miners and taken the hash power of bitcoin to bch

Slark

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Op, everything is being manipulated by the rich elites - there are no exceptions here. They are manipulating media, governments, world's economy is in their hands.
It is foolish to think that they haven't realized that bitcoin and cryptocurrencies, in general, are a great way to earn additional billion $$$ or two.
Can we do something about it? No, not really. So there is no need to worry about as there is no need to worry about the weather on Mars.

tomahawk9

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Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

As others have said, yes it is possible. Take a look at the CME group bitcoin future annoucement and you'll get your answers, a financial company getting ready to manipulate the market by robbing buying liquidity from bitcoin in order to surpress the price. The floodgates are open for wall street and whales to start their market manipulation, we have yet to see the true power of the elite in the cryptocurrency world.

RoadToBTC

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I think it could happen, but it takes a lot of money to make a drama like that. Maybe not just some people, but maybe some groups are already planning well. Because of such things I think it will not be done unexpectedly. we can take advantage of that opportunity to get a good profit from the drama.

canMERT

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Something related with BCH, something going on in these days.

lucifochrome

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It is possible especially to the people who have huge influence or have a huge amount of money. Just like what dimon did, there are other people who just hid in shadows and have a huge amount of money who will just buy bitcoin and by doing that it will pump the price, then they will just sell again in line with the issues that bitcoin faced which will make the price dip. and process will just repeat over and over.

Darwintas

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They can easily tell you something and you will believe it. Thats why i always save up my coins i don't trust anyone because they want my coins. They are liking it to steal your coins.

So in short it is possible and they are already doing it.

aso118

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Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

They definitely can. The worst part is since the crypto market is unregulated, they won't be breaking any law. You should have patience and conviction; do not be misled by massive price movements.

hase0278

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Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

It is very possible and one great proof of that is what happened in the market in the past few days. In fact, Jihan Wu and others who participated cannot be considered extremely rich yet, but they have successfully manipulated btc even for a bit. What would happen when those elites move to pump and dump btc? I am sure price would be manipulated for a period of time after this happen and it will last for a long time.

mukabokep

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very likely from the very beginning of the person who created bitcoin until the market price of the milliarders has interfered in it .. I myself believe that bitcoin is created as a currency that upholds freedom and is owned by everyone without any interference by the state..

VitKoyn

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Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

Yes it is possible for cryptocurrency market to be manipulated but it is relatively difficult to do if you are planning to do it with few avaerage investors, but if you're with a group of wealthy investors that own huge amount of Bitcoin then yes. The best example here is the recent Bitcoin Cash pump and dump scheme which group of wealthy people led by Roger Ver dumps their Bitcoin and bought extremely high amount of Bitcoin Cash and sold it at the high price leaving small investors without profit and lose their investments. I feel bad for those people invested in BCH when it hits $2100+.

gentlemand

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Welt Am Draht

Yes absolutely. It's really not a very big market by anyone's measure. And before anyone says 'but it's x billiion' it is but most exchanges mindlessly follow other ones. All you have to do is plant yourself on Bitfinex and the world will copy your moves.

Drixy

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reading.......

Main investors is the users who put bitcoins in their wallet.
It is possible every individuals have the power to increase or decrease bitcoin on a minimal amount depending on the users choice.

hheight

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Actually this is the main reason for the growth or fall of the currency.

matuson

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Quote from: Joon RBlock on November 13, 2017, 06:11:34 AM

Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

Of course you can. What do we see now? Do you think all the people suddenly felt a great love for bitcoin cash? This is a mere speculation. After a few days everything will return into place. The only difference is that those who sold and bought bitcoin bch will lose all your money.

Joon RBlock

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Would it be possible for a group of extremely rich billionaires & other powerful individuals to manipulate the bitcoin market? e.g. Pump and dump, exposure to news networks, lobbying for favourable bitcoin regulation,etc Huh

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