Most of Bitcoin Exchanges' Founders are COLLUDING

QuestionAuthority

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Quote from: gentlemand on January 01, 2018, 12:43:38 PM

Quote from: QuestionAuthority on January 01, 2018, 11:25:58 AM

It’s not 70%, it’s more like 60%. Supposedly, only 21 million bitcoins are in existence (however invisible, digital and intangible that may be). It is said that a thousand early buyers of the digital coin own fully 40% of the world’s supply. (And I bet ya dozens of these bitcoin billionaires are drug smugglers, given that’s how bitcoin got its start.) You are betting on the honesty and integrity of drug dealers when you buy bitcoin as a long term investment.

Um, how do you become a drug baron with Bitcoin when it was only possible to mine or buy truly epic amounts when it was effectively worthless?

One shipment of 'shit' would've wiped out the market completely. Silk Road only came along in 2011 long after when most of these people were already established.

Drug buying with bitcoin is still happening today. Hell, there’s a long still popular thread on it. Silk Road made it well known but it wasn’t the end of it. Surely you don’t think drug king pins sold all of their bitcoin holdings the minute they got them while watching the price continually rise? DPR sure as hell didn’t. The US government became the largest holder of bitcoins for a while because of his hoarding. El Chapo didn’t get to be rich because he made bad business decisions. LOL

gentlemand

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Quote from: QuestionAuthority on January 01, 2018, 11:25:58 AM

It’s not 70%, it’s more like 60%. Supposedly, only 21 million bitcoins are in existence (however invisible, digital and intangible that may be). It is said that a thousand early buyers of the digital coin own fully 40% of the world’s supply. (And I bet ya dozens of these bitcoin billionaires are drug smugglers, given that’s how bitcoin got its start.) You are betting on the honesty and integrity of drug dealers when you buy bitcoin as a long term investment.

Um, how do you become a drug baron with Bitcoin when it was only possible to mine or buy truly epic amounts when it was effectively worthless?

One shipment of 'shit' would've wiped out the market completely. Silk Road only came along in 2011 long after when most of these people were already established.

QuestionAuthority

legendary

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Quote from: khaled0111 on December 31, 2017, 06:36:46 PM

Big whales are always the ones that dictates what the prices should be.
We can't do anything to stop them since they hold more than 70% from the total supply. If they sell a little bit from what they have at low price then all others will follow, the same thing if they hold then there will be not enough sypply circulating in the market and thus the price will rise.
If you want to make success in the cryptocurrency market you should copy their strategies.

It’s not 70%, it’s more like 60%. Supposedly, only 21 million bitcoins are in existence (however invisible, digital and intangible that may be). It is said that a thousand early buyers of the digital coin own fully 40% of the world’s supply. (And I bet ya dozens of these bitcoin billionaires are drug smugglers, given that’s how bitcoin got its start.) You are betting on the honesty and integrity of drug dealers when you buy bitcoin as a long term investment.

Bitcoin investment contracts and ETFs are managed by professional Wall Street investment firms. They do nothing for bitcoin because they don’t buy and sell bitcoin. While they hold a quantity of bitcoin, that bitcoin never moves. They trade in futures, just like oranges or pork bellies. They don’t trade in orange futures by handing a bag of oranges back and forth on the trading floor! Be careful trusting and following what these investors do. They are out to make a fat stack of cash just like Bernie Madoff was. If one of them gets caught doing something unscrupulous bitcoins price will crash to zero pretty quick. Insider trading is illegal (just ask Coinbase), it’s easy to get caught and it’s very tempting. Be careful!

Samings

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Quote from: NiceSoft12 on December 29, 2017, 10:08:16 PM

It's safe to say that most of the Bitcoin Exchanges have been founded by original whales, those that fall under the 900 people category.

What is 900 people category? It's those 900 people that own about 70% of all bitcoin in circulation.

In the bitcoin dips, it is so coordinated, these guys definitely collude with each other on what they want the price to be. In bear seasons, Bitcoin drops over 95 at different times. And in bull runs, BTC increases by 20x....

The rich is getting richer. The market is totally manipulated. The general "bitcoin user", investors, adopters, etc has about 5% influence on the Bitcoin market. 95% influence comes from the original 50 whales of bitcoin that dictates exactly what the price and graph should look like.

These guys are the exchanges, they founded the exchanges, these guys can make BTC price go to whatever they please.... though risking some of their assets when it is too extreme.

2017 make rich is getting richer and those rich buy anythings. big investors use them money to be more rich.
one of them is roger ver and what he does .

khaled0111

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Big whales are always the ones that dictates what the prices should be.
We can't do anything to stop them since they hold more than 70% from the total supply. If they sell a little bit from what they have at low price then all others will follow, the same thing if they hold then there will be not enough sypply circulating in the market and thus the price will rise.
If you want to make success in the cryptocurrency market you should copy their strategies.

btcbtq

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Quote from: Cils05 on December 31, 2017, 04:16:25 AM

BREAKING DOWN 'Bitcoin Exchange'
Bitcoin exchange platforms match buyers with sellers. Like a traditional stock exchange, traders can opt to buy and sell bitcoin by inputting either a market order or a limit order. When a market order is selected, the trader is authorizing the exchange to trade his coins for the best available price in the online marketplace. With a limit order set, the trader directs the exchange to trade the current bid, depending on whether s / he is buying or selling.

For example, on a bitcoin exchange, three coin sellers are asking for BTC / USD 2265.75, BTC / USD 2269.55, and BTC / USD 2270.00. A trader who initiates a market order to buy bitcoins will have his order filled at the best ask price of $ 2265.75. If only five bitcoins are available for best ask 10 coins are available for $ 2269.55, and the trader wants to buy 10 at market, his order will be filled with 5 coins @ $ 2265.75 and the remaining 5 @ $ 2269.55.

Exactly. Exchanges don't control the market, they just make it easier for people to transact in the market. The popularity of an exchange has a perceived influence, but in reality trades can always still be decentralized.

949miner

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And you do not have to forget that those big guys are the only ones who are manipulating everything.

With the last scenario with bitcoin - bcash - fees with coinbase are the ORIGINAL proof that everything is connected and 100% manipulated by the exchanges.

That is why i am a little bit scared about what is going to happen, but i am relaxed, i am not afraid of this at all,
i know that the fees are slowly recovering and getting back to normality.

Quote from: NiceSoft12 on December 29, 2017, 10:08:16 PM

It's safe to say that most of the Bitcoin Exchanges have been founded by original whales, those that fall under the 900 people category.

gentlemand

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I wouldn't be surprised. They're not breaking any laws raping their customers. Why wouldn't you? Bitfinex has pulled pretty much every disgusting trick in the book in public yet their adoring victims keep coming back for more. We get the exchanges we deserve.

bbqnub1

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This is an interesting theory. Would like to see more evidence

Anti-Cen

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High fees = low BTC price

Quote from: Cils05 on December 31, 2017, 04:16:25 AM

For example, on a bitcoin exchange, three coin sellers are asking for BTC / USD 2265.75, BTC / USD 2269.55, and BTC / USD 2270.00. A trader who initiates a market order to buy bitcoins will have his order filled at the best ask price of $ 2265.75. If only five bitcoins are available for best ask 10 coins are available for $ 2269.55, and the trader wants to buy 10 at market, his order will be filled with 5 coins @ $ 2265.75 and the remaining 5 @ $ 2269.55.

Thank you that was useful information to me, get complicated does it not

Anti-Cen

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High fees = low BTC price

Yes well spotted and note that GDAX makes you convert to USD from GBP to trade
BCH so they make money from the exchange rate each way

Also see https://blockchain.info/pools
ten big miners do 90% of all transactions so we now have a monopoly and
this is why we are being hit with $45 transaction fees.

They have magnets under the table, start moving towards the doors slowly people

QuestionAuthority

legendary

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You lead and I'll watch you walk away.

I don’t think that can happen because fiat currency exchanges are regulated by the government in every country in the world. Most of them have government oversight by employees who’s only job is to monitor the exchange. BTCe and BitInstant (Charlie Shrem) were taken down by that oversight.

Don’t worry, if they are colluding to commit a crime then it won’t be long before they join the owners of BTCe in prison.

odolvlobo

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Quote from: Spoetnik on December 31, 2017, 04:21:40 AM

A guy i know at an exchange (Cryptsy) told me here publicly they had a mini group and would discuss matters via IRC.
The guy from GOX was apart of it "MagicalTux".
So there is some truth to this i think.

You know Paul Vernon? Could you please ask him to return the money he stole from his users? Or at least tell us where he is so someone can bring him back in handcuffs.

Spoetnik

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A guy i know at an exchange (Cryptsy) told me here publicly they had a mini group and would discuss matters via IRC.
The guy from GOX was apart of it "MagicalTux".
So there is some truth to this i think.

Cils05

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BREAKING DOWN 'Bitcoin Exchange'
Bitcoin exchange platforms match buyers with sellers. Like a traditional stock exchange, traders can opt to buy and sell bitcoin by inputting either a market order or a limit order. When a market order is selected, the trader is authorizing the exchange to trade his coins for the best available price in the online marketplace. With a limit order set, the trader directs the exchange to trade the current bid, depending on whether s / he is buying or selling.

For example, on a bitcoin exchange, three coin sellers are asking for BTC / USD 2265.75, BTC / USD 2269.55, and BTC / USD 2270.00. A trader who initiates a market order to buy bitcoins will have his order filled at the best ask price of $ 2265.75. If only five bitcoins are available for best ask 10 coins are available for $ 2269.55, and the trader wants to buy 10 at market, his order will be filled with 5 coins @ $ 2265.75 and the remaining 5 @ $ 2269.55.

BitcoinThief

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Quote from: randy321 on December 31, 2017, 03:23:13 AM

Exchanges are a racket, pure and simple. Insiders load up on coins prior to listing, outrageous listing fees or as some of them call them "marketing fees," centralization... all of these things contribute to their bad reputation.

odolvlobo

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Quote from: NiceSoft12 on December 29, 2017, 10:08:16 PM

It's safe to say that most of the Bitcoin Exchanges have been founded by original whales, those that fall under the 900 people category.

What is 900 people category? It's those 900 people that own about 70% of all bitcoin in circulation.

In the bitcoin dips, it is so coordinated, these guys definitely collude with each other on what they want the price to be. In bear seasons, Bitcoin drops over 95 at different times. And in bull runs, BTC increases by 20x....

The rich is getting richer. The market is totally manipulated. The general "bitcoin user", investors, adopters, etc has about 5% influence on the Bitcoin market. 95% influence comes from the original 50 whales of bitcoin that dictates exactly what the price and graph should look like.

These guys are the exchanges, they founded the exchanges, these guys can make BTC price go to whatever they please.... though risking some of their assets when it is too extreme.

Perhaps you have some evidence to share, or are you just some crazy tinfoil hat person?

randy321

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Exchanges are a racket, pure and simple. Insiders load up on coins prior to listing, outrageous listing fees or as some of them call them "marketing fees," centralization... all of these things contribute to their bad reputation.

icoDealDeckcom

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Quote from: NiceSoft12 on December 29, 2017, 10:08:16 PM

It's safe to say that most of the Bitcoin Exchanges have been founded by original whales, those that fall under the 900 people category.

What is 900 people category? It's those 900 people that own about 70% of all bitcoin in circulation.

In the bitcoin dips, it is so coordinated, these guys definitely collude with each other on what they want the price to be. In bear seasons, Bitcoin drops over 95 at different times. And in bull runs, BTC increases by 20x....

The rich is getting richer. The market is totally manipulated. The general "bitcoin user", investors, adopters, etc has about 5% influence on the Bitcoin market. 95% influence comes from the original 50 whales of bitcoin that dictates exactly what the price and graph should look like.

These guys are the exchanges, they founded the exchanges, these guys can make BTC price go to whatever they please.... though risking some of their assets when it is too extreme.

Ever heard of front running or padding? See it all the time on almost every exchange. Distributed and Autonomous? Ha! Manipulated is a more accurate description of the crypto circus.

NiceSoft12

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Slowing down implies on it's way to dying. But it will come alive if the scaling issues get better.

Topic: Most of Bitcoin Exchanges' Founders are COLLUDING (Read 297 times)