Topic: r0ach proven right - Bitcoin market is a Gox-style fraud controlled by Bitfinex - page 2. (Read 1916 times)

>r0ach proven right
>thread started by r0ach himself

Let's eat silver for breakfast.

What are you talking about? Of course is matters. It is not very easy to control an entire market unless the "entity" has cornered or at least have the majority of volume of the entire Bitcoin market.

I will believe that story if someone proved every big exchange is in on the manipulation of the whole market.

This is nothing but conspiracy theory thus far. What is clear is, Bitcoin was the thing to hold and still is, and gold should have been dumped a long time ago. Look at the graphs and see for yourself.

Sorry r0ach, but you did a big mistake dumping all of your coins a long time ago and betting for gold, time to admit that.

Gemini (the winklevoss exchange) does ether trading.

And GDAX (coinbase's exchange) does ether and litecoin and you can trade eth and ltc against various fiat currencies as well.

looking forward to it, looks promising, waiting for something like that for years !

everything has a bellwether. wars don't get started by millions of people, they're started by a small group and it grows from there as others follow. same goes for a rally. bitfinex was the usd leader for a long time so it's natural others would have been swept up in it.

bitfinex is the biggest threat to the health of the crypto markets. if it isn't their bullshit with their exchange, it's usdt too and that could be way more catastrophic.

I wouldn't be at all surprised if this was true.

Brexit caught EVERYONE by surprise, not just bitcoin traders,, but the forex markets and stock markets worldwide. I even remember some really big hedge funds trying to panic sell commercial property (which is not the type of thing you can sell quickly) after the referendum. They mist feel like fools now, especially as a whole bunch of businesses have relocated to London to occupy said comercial property.

Wait till November-December and use BLOCKNET decentralized exchange. It will be finished by the end of this year. You make trade including margin trading so that your coins never go to third parties. You keep all your private keys. The most secure way to trade!

I'm messing with alts since 2013, but thanks for advise not to profit ...

nope, but again thanks

ok so clearly if bitfinex is evil, what exchange we should use for other than btc trades?
I mean, stamp offers only limited currencies, poloniex is no go, kraken looks shady-ish as well... so which one?

Hey r0ach, if it`s so easy to make $ by initiating movements, why you don`t you pump altcoins?   

As I already explained, you don't need to control all the volume in the market.  All you have to do is initiate the move and other exchanges follow.

Might be that bitfinex is evil, I don't know.
But it can't control the bitcoin market, bitfinex has by far not enough volume for that.

I think the simplest explanation is the time directly after they announced that they do not have banking partners anymore.
Because of that Bitfinex price was very different to all other markets and also price of Tether was not 1$ anymore. No exchange followed bitfinex movement anymore.

The Spoofy report claims, that there is no one who can deposit/withdraw USD, at least no one who could compite with spoofy. But this is wrong. If there still would be no deposit/withdrawal of USD, bitfinex would still have a very different price compared to bitstamp and other exchanges. But the prices are as usual (like they were before the "no banks" thing). So there is at least one big guy or many that is able to deposit/withdraw money.

Yes there might be some fishy things going on on bitfinex, I don't have prooves against it. But I'm very sure that this is not influencing the global bitcoin price much.
And I'm also quite sure, that this "Spoofy" is just a regular whale that is making big money by unregulated bitcoin market. A whale with knowledge about normally forbidden trading practices would be stupid to not use them in unregulated bitcoin market and get even more rich.

The volume isn't what matters.  What matters is that usually when the price goes up or down, it's almost always from Bitfinex moving the market and other exchanges following.  This is how things have been all the way from $200 to now usually.  The few times when it's not is when there's a large amount of shorts on Okcoin and then someone (possibly the exact same entity) goes onto Okcoin to manipulate that market and squeeze them. There isn't a real market for bitcoin.  It's just whatever this scammer entity on Bitfinex manipulates it to.  He usually tries to manipulate upwards (just like Gox), but has attempted downwards before as well such as during Brexit.

Does Bitfinex have the same kind of influence as MtGox did in the past though? Mtgox had the majority of trading volume during its peak while Bitfinex today does not have anything close to what MtGox had. But I agree, Bitfinex also has done other questionable things in the past, like socializing losses from the latest hack and giving their users 15% less of their BitcoinCash.

I don't think anyone disagrees that Bitfinex has always been shady. And there's been plenty of red flags that point to insolvency and the notion that the hack was very suspect.

But this needs to be said, so I hope that they are reading this.

BITFINEX, IF YOU HAVE BEEN NAKED SHORTING ON YOUR OWN EXCHANGE, ARE INDEED INSOLVENT, AND IT HAS BEEN DISCOVERED THAT YOU HACKED YOUR OWN EXCHANGE IN AN EFFORT TO DEVISE A COVER STORY FOR YOUR LOSSES...

...THE FEDS ALREADY KNOW ABOUT IT, AND YOU HAVE A GIGANTIC BULLS-EYE ON YOUR BACK RIGHT NOW. EXPECT MT. GOX STYLE CONSEQUENCES SOONISH^TM.

Bitfinex is a replica of MtGox

Zerohedge just posted a story in mainstream news about what I've been talking about for years now:

http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-price

I first wrote about how it appeared Bitfinex had someone with unlimited amounts of money that traded exactly the opposite way of anyone who would be trying to make a profit during the halving/brexit period.  My hypothesis was that Bitfinex owners were trading on their own exchange and got caught on the wrong side of the trade due to Brexit and rendered insolvent, so they then claimed they were "hacked" and lost all the bitcoins.

There's a link to my post and picture/commentary from over a year ago:



http://steemit.com/news/@r0achtheunsavory/bitfinex-is-lying-about-the-hack-and-i-can-tell-you-exactly-what-likely-happened

And another one of my posts from over a year ago right after they came back online:







https://steemit.com/money/@r0achtheunsavory/the-r0ach-report-vol-3-bitfinex-scamming-intensifies-and-more-on-the-silver-and-gold-markets