Topic: Nobody Can Have Benefit From a Big Pump - page 5. (Read 8225 times)

Exchanges does make money with fees, for every transaction you make they make money, what you saying is there is pump they would frozen their income to steal costumers money? Some exchanges might trade their btc to fiat or just collect and exchange funds enought to cover the costs, besides those there is no connection at all with your statements, who buy and sell any currencie into the exchange are the costumers, soo its your and mine money at risk not exchanges. I had see at poloniex a lot pumps this year and some of them reached 40-80% profit into 24 hours, the only issue that happened were website got slowly due to big numbers of new traders that reached the exchange.

I doubt very much that exchanges don't buy and sell. As far as I know, exchanges are unregulated. They can front-run any trade. They can arbitrage other exchanges. And they can create massive volume using their customers' funds.

Therefore they stand to profit more than anyone, and likely do!

Yes that is how the exchangers works, they didn't do buyings or selling because they just act as a place or market where you can put your either sell or buy order and wait for the other people to fulfill your order then you can either get stocks or get profits. Exchangers is just like a bridge that connect two place or people.

I have not absorbed this matter seriously. But according to me, they will accept any price change in the market. Suppose if they not accept this fact and not allow us to buy or sell for the present price then no one will use that site and that site will lose reputation in the market. I am following few local sites in that one site is genuine they will keep on update the price depends on market price.

Exchanges don't accept buyings or sellings. They just match orders.
Your sell order can remain unfulfilled if there is not matching buy order.

Exchangers will have to accept all sellings, that's their work and no matter what price will be. And I doubt that too many people will jump to sell their coins. Some par yes, but there will be a part of people who will skip such event only cause of they don't follow bitcoin's price nonstop, and of course will be people who will wait for some higher growth and will just take the position of waiting.
One thing happened couple weeks ago when on one exchanger the price for bitcoin fell to 0.6$ per 1 BTC cause of the service's mistake. As I heard not so manypeople could buy bitcoin for such price. I wander to hear if someone really could 

Who established that?

You may have established but I didn't say anything to that tune or which could be (mis)interpreted in that way. Bigger blocks in no way guarantee miners higher profits, even if they actually would include more transactions (but we are not there yet, anyway). I'm absolutely confident in my point, and I can easily defend it (as long as you remain honest, of course). They desire neither bigger blocks nor smaller blocks, they desire more profits (which is understandable, no altruists here), and any change would likely mean lesser profits for them. With bigger blocks their roguishness will be more evident at that (if they continue to pile up transactions with half empty blocks). In this way, they want the current debates and clashes to go on indefinitely (which I already said) since this allows them to preserve the current status quo (i.e. escalating fee race)

You're just digging yourself deeper into an illogical argument. Why on earth would the miners lie about wanting bigger blocks and secretly desire smaller blocks? We've already established that the too-small blocksize is limiting their profits, alienating the user base due to high fees and slow/failed confirmations, and running bitcoin into the ground at a key moment of explosive growth. Who has the most skin in the game here? Miners. They've spent millions on hardware and they intend to profit. Keeping the bitcoin network running and keeping a happy face on bitcoin's public persona is very important to them. They're not extorting anyone. They rejected Core's Segwit proposal and that's their right.


I'm curious if you understand how this piece (especially, the emphasized part) fundamentally contradicts the first section ("process more transactions" and "make more fees")
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Again, the network could theoretically continue to function at the current volume and price for 100 years without any changes. But it would halt the rapid volume and utility growth, which would move to another crypto. No contradiction. Now perhaps you could explain to me why the Core devs and their flawed corporate vision for bitcoin are so important? And why another dev team can't port the 0.14 changes to 0.12, raise the blocksize to 2MB, and a majority of nodes and miners compile and run that code?

I'm more inclined to think that it is you who fails to see the forest for the trees

Miners can't make more fees with larger blocks since the larger blocks won't let them extort higher fees by not confirming transactions with smaller blocks, though with larger blocks such extortion would be an open outrage (as if it is not already). This is not a rocket science, after all, and it is hard to fail to see that, so there is no reason to think they are actually in favor of bigger blocks. They may claim whatever they want (and you may choose to believe in that), but their true objective is to make current disputes even more heated, so that the present situation would drag on for longer (preferably, forever)


I'm curious if you understand how this piece (especially, the emphasized part) fundamentally contradicts the first section ("process more transactions" and "make more fees")

I don't think you understand the situation.

For miners, the purpose of larger blocks is to process more transactions, make more fees, and scale the bitcoin network to keep up with demand from all over the world. Duh. Which is also the purpose of larger blocks for free thinkers on this forum. That doesn't imply support for miners, it's just the logical way forward based on Satoshi's vision, and in concert with the incentives he envisioned when he create Bitcoin.

Now you're arguing that there is "no tomorrow" for miners (are you a UASF supporter)? LOL, if anything, there is "no tomorrow" for Core devs and their band of yabbering minions. The Bitcoin network can chug along happily for the next 100 years without a single line of new code getting written. It just can't scale to reach the number of people who want to use it. Therefore, people will dutifully move on to the next coin if nothing changes, as they are doing now.

And what Satoshi did so that we could consider him as an altruist?

We don't even know whether he is still alive or not, so that's a moot point really. Apart from that, I didn't say that there are no altruists in this world, but even if there are we should be very careful in our judgment about them since "the road to hell is paved with good intentions". I said that there are no altruists if you have millions of dollars invested into something, at least, as long as we remain rational. But irrational people cannot be considered as either altruists or egoists since any of these assumes conscious choice which irrational people cannot make by definition

If I'm put my sales Order , my bitcoin will sold on my preferred value ( althought market value still not reach my target yet )
So trader still able to make profit

Even if exchanger can't make profit but their profit on the past still can't race with current loss

i don't not agree with op here because if there is a huge pump as described. it means value of  bitcoins will also increase and everyone having some
bitcoins at that particular time we call it  profit.

most likely the early investors will cash in big on such a price pump and for the exchange they might lose on the altcoin business as we get to but more for a small price.

Yeah OP was stupid to say that, volatility is bad but of course we all benefit from the pumps as long as we hold our bitcoins.


If satoshi were really an altruist he would have anonymously donated those bitcoins to a good cause. He is either dead, lost his private keys or is waiting for a higher price.

I don't think anything like that can actually happen because a investor has to invest double the market cap to double the current price.
And also we have not seen anything like this in the past so there's a chance exchanges may not allow that or maybe they may even allow. It's better if we wait and notice what happens next.

Can you show us some proof that we cannot get benefits from a big pump? A lot of people now investing and trading because they are all waiting for the big pumps because that is how they can earn money then if there will no big pump then there will no benefits.

I agree with you but the issue is the exchange site are equally protecting themselves even though they should rather not do that. The reason for my position is that part of what makes an exchange popular is liquidity in that when I want to sell, I should be able to do so within limited time or else I won't trust them but not all this time are buyers at all time are available so they buy before then selling to who ever makes an order. But what will happen to them the moment the price increases at that rate without anybody to buy at the moment and they allow you sell which meas they owe you and if they cannot redeem it, the next is scam accusation thread which might damage their reputation. With that, what they do is just study what happen next before just jumping here and there and we all know the volatility nature of price.

I don't think so. The only one who will benefit from a big pump is the one who bought a lot of bitcoin when its price is low. Bitcoin holders can earn a high profit from increasing price. There's a possibility that their money could be double or even triple.