Topic: Stock Exchange scam? (Read 712 times)

Bitcoin has no value if buyers didn't purchase btc you have worthless amounts of BTC. I want peoples views on this. I think the stock exchanges are manipulating the BTC and alt coins values. how do we know the buy orders are genuine people not fakes or bots? If I wanted to scam people I would host a stock exchange site with a lot of fake users that make fake buy orders and sell orders to increase the price of BTC. Then when BTC receives ubiquitous amount of attention about it's current price. People start getting interested in it but they see the price is too high to start investing. These people think oh look BTC has reached $1,300 that must be what BTC is worth. But they want to wait for it to drop because anything that goes up must go down. The admin of the stock exchange knows of this and keeps the value fluctuating around 1,200-1,300 and begins to slowly depreciate the price by manipulating the data to increase the sell orders. Then he depreciates the price again to $500. Then people see it as an opportunity to start investing into hoping that the value will go back up to it's peak. It does the investors feel confident about BTC and its potential growth they build infrastructure around it and then news spreads about it's success more people start investing and then when enough people have bought for their scam they shut the service down and leave you empty.

I think it's not just an individual stock exchange it's a conglomerate of stock exchanges that have planed this scheme.


Please read this link

http://www.deccanchronicle.com/131210/news-current-affairs/article/cyber-experts-unearth-massive-bitcoin-scam
 
P.S.
Sorry about making another post about stock exchange scam but this one is more comprehensive.