Topic: Pump and Dump: Market Manipulation - page 2. (Read 3567 times)
Thinly traded markets are easily manipulated.
Remember that bitcoin crash a few weeks ago; one of my buddies was part responsible for that. We did it with those Linden dollars from that game a while back."
Now here's the bigger kicker. The guy who I was talking to is exceedingly smart, like genius level smart, and I believe him 100%
Now here's the bigger kicker. The guy who I was talking to is exceedingly smart, like genius level smart, and I believe him 100%
This same story is repeated on various forums, in various scenarios and situations, it's always 100% bullshit.
Always some spotty teen claiming "he" caused a market crash, hacked the servers or created a tornado. His lapdog friend running to forums like a faithful little brother & repeating everything he said with enthusiastic vapidness.
The crash was caused by one Mt. Gox account being compromised, and not your friend dumping a bunch of Linden dollars from Second Life.
That account was used to fill all open buy orders which means some were sold even at a token 0.01BTC price. He then attempted to cash out a ton of BTC but the $1,000 limitation kicked in.
My friend and his friends are all -- well I don't want to go into too much detail, but they're adults and very smart. And like I said, I am 100% sure that if this guy says it's true, then it's true.
Also, I'm talking about the dip of going from $30 to $12 a few weeks ago, not this recent mtgox debacle.
Remember that bitcoin crash a few weeks ago; one of my buddies was part responsible for that. We did it with those Linden dollars from that game a while back."
Now here's the bigger kicker. The guy who I was talking to is exceedingly smart, like genius level smart, and I believe him 100%
Now here's the bigger kicker. The guy who I was talking to is exceedingly smart, like genius level smart, and I believe him 100%
This same story is repeated on various forums, in various scenarios and situations, it's always 100% bullshit.
Always some spotty teen claiming "he" caused a market crash, hacked the servers or created a tornado. His lapdog friend running to forums like a faithful little brother & repeating everything he said with enthusiastic vapidness.
The crash was caused by one Mt. Gox account being compromised, and not your friend dumping a bunch of Linden dollars from Second Life.
That account was used to fill all open buy orders which means some were sold even at a token 0.01BTC price. He then attempted to cash out a ton of BTC but the $1,000 limitation kicked in.
I was talking to a friend, and randomly he brought up "it's very easy to crash a fiat market and profit from the low value. Remember that bitcoin crash a few weeks ago; one of my buddies was part responsible for that. We did it with those Linden dollars from that game a while back."
Now every time I've seen a post similar to that quote, I've replied something similar to "you can't buy back for the value you lost in selling trying to drive the price down, so it's not possible to profit. Sure you can crash it by just selling a ton, but you can't profit from it." I was pretty sure this was true, but admittedly I have zero knowledge about this kind of thing.
Now here's the bigger kicker. The guy who I was talking to is exceedingly smart, like genius level smart, and I believe him 100% when he says this. So I would like to have this thread going in the direction of already going on the assumption that it's possible to do it and profit from it, and I want to ask HOW would you go about it?
I won't get to talk to this guy any more for at least a few days, but this has been driving me nuts. How can you both drive the price down and still buy up at a profit? Do you sell a large amount and scare the market and let fear get the better of them and then slowly buy up and end up with more simply because the initial panic you caused took life of its own? I don't know how it would be possible. But if my friend says it is, then it is.
How would you do it?
Now every time I've seen a post similar to that quote, I've replied something similar to "you can't buy back for the value you lost in selling trying to drive the price down, so it's not possible to profit. Sure you can crash it by just selling a ton, but you can't profit from it." I was pretty sure this was true, but admittedly I have zero knowledge about this kind of thing.
Now here's the bigger kicker. The guy who I was talking to is exceedingly smart, like genius level smart, and I believe him 100% when he says this. So I would like to have this thread going in the direction of already going on the assumption that it's possible to do it and profit from it, and I want to ask HOW would you go about it?
I won't get to talk to this guy any more for at least a few days, but this has been driving me nuts. How can you both drive the price down and still buy up at a profit? Do you sell a large amount and scare the market and let fear get the better of them and then slowly buy up and end up with more simply because the initial panic you caused took life of its own? I don't know how it would be possible. But if my friend says it is, then it is.
How would you do it?
You scare people, then profit off the panic. Your friend is an ass, but he's far from the only one who will do something like that. That's why you should be very careful trading during big swings. Your emotions will be exploited.
I was talking to a friend, and randomly he brought up "it's very easy to crash a fiat market and profit from the low value. Remember that bitcoin crash a few weeks ago; one of my buddies was part responsible for that. We did it with those Linden dollars from that game a while back."
Now every time I've seen a post similar to that quote, I've replied something similar to "you can't buy back for the value you lost in selling trying to drive the price down, so it's not possible to profit. Sure you can crash it by just selling a ton, but you can't profit from it." I was pretty sure this was true, but admittedly I have zero knowledge about this kind of thing.
Now here's the bigger kicker. The guy who I was talking to is exceedingly smart, like genius level smart, and I believe him 100% when he says this. So I would like to have this thread going in the direction of already going on the assumption that it's possible to do it and profit from it, and I want to ask HOW would you go about it?
I won't get to talk to this guy any more for at least a few days, but this has been driving me nuts. How can you both drive the price down and still buy up at a profit? Do you sell a large amount and scare the market and let fear get the better of them and then slowly buy up and end up with more simply because the initial panic you caused took life of its own? I don't know how it would be possible. But if my friend says it is, then it is.
How would you do it?
EDIT: I'm not talking about the recent mtgox thing, I'm talking about the going from $30 to $12 a few weeks back.
Now every time I've seen a post similar to that quote, I've replied something similar to "you can't buy back for the value you lost in selling trying to drive the price down, so it's not possible to profit. Sure you can crash it by just selling a ton, but you can't profit from it." I was pretty sure this was true, but admittedly I have zero knowledge about this kind of thing.
Now here's the bigger kicker. The guy who I was talking to is exceedingly smart, like genius level smart, and I believe him 100% when he says this. So I would like to have this thread going in the direction of already going on the assumption that it's possible to do it and profit from it, and I want to ask HOW would you go about it?
I won't get to talk to this guy any more for at least a few days, but this has been driving me nuts. How can you both drive the price down and still buy up at a profit? Do you sell a large amount and scare the market and let fear get the better of them and then slowly buy up and end up with more simply because the initial panic you caused took life of its own? I don't know how it would be possible. But if my friend says it is, then it is.
How would you do it?
EDIT: I'm not talking about the recent mtgox thing, I'm talking about the going from $30 to $12 a few weeks back.
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