Topic: Take your Bitcoin out of exchanges now! (Read 265 times)
Yes, manipulation is one of the very risky bitcoin weaknesses. This will be harmful to all bitcoin investors. Although manipulation is only done by 1 person, but it can play with the thousands of bitcoin investors.
You do have a point and nothing can be manipulated if there are no coins left on the exchanges and there will be no trading happening as well. Especially now that botcoin has dropped down again, it could even drop more than its price now. I’ve heard it will drop to maybe around $2k this year and thats something scary for hodlers like me.
do not believe the rumors, a very large demand begins with 5K per bitcoin, this is the main engine of the market - demand.
it seem you ate right but to convince the masses is hard to do... this market now is seen previouly and it goes up again.. this are the bases of an ordinary trader to hold bitcoin. futhermore, if you buy bitcoin on price level to 9k then selling your btc is really loss in capital.
Stop spreading FUD ...
Bitcoin has a long future behind him
Don't worry about him
Bitcoin has a long future behind him
Don't worry about him
The price of bitcoin is crashing because the price is being manipulated just like they manipulate gold prices.
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
Um, any proof? Also, what "exchanges"
There are a lot of them...
You do have a point and nothing can be manipulated if there are no coins left on the exchanges and there will be no trading happening as well. Especially now that botcoin has dropped down again, it could even drop more than its price now. I’ve heard it will drop to maybe around $2k this year and thats something scary for hodlers like me.
The price of bitcoin is crashing because the price is being manipulated just like they manipulate gold prices.
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
Yeah that is the sad reality about manipulation and centralization. That is why I don't like to store my Bitcoin funds on local exchanges. We are not the owner of our funds if we store it on exchanges and they have the full control in all of it. Consequenses will be worst if exchanges were hacked or compromised. Big players can play and have huge profit if they manipulate Bitcoin prices as weak hands make massive dump. Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
Unless you have solid proof to back up these claims, there's nothing more than FUD.
That shouldn't be the reason why not to keep your coins on exchanges, the reason should be because it isn't secure to do so.
Show me the cold storage addresses of those exchanges and prove that they do not have enough supply to account for all coins on the exchange.
Otherwise these are just conspiracy theories.
That shouldn't be the reason why not to keep your coins on exchanges, the reason should be because it isn't secure to do so.
Show me the cold storage addresses of those exchanges and prove that they do not have enough supply to account for all coins on the exchange.
Otherwise these are just conspiracy theories.
I don't think the exchanges might be doing this as what happens if the exchanges run out of coins if more people withdraw their Bitcoins? They aren't going to buy the Bitcoins at market rate as the price isn't going to always be lower than their purchased price. Why you should ask everyone to withdraw their coins from exchanges is to secure their coins from the hands of exchanges, as the exchanges are constantly under hacking attempts.
That's a very good idea.
The price of bitcoin is crashing because the price is being manipulated
Take your bitcoin out of the exchange.
Take your bitcoin out of the exchange.
it is one thing to tell people not to store their bitcoin on exchanges because of the risks but it is another thing to tell them to withdraw because price is crashing and being manipulated!!!
of course you need to always keep your bitcoins with you in a secure cold storage but when price is falling and IF you are a trader then you need to sell your bitcoin and start buying back at the bottoms when the manipulation ends. for example 3 or 4 days ago when the dumping began you should have sold the coins you had on exchanges and then started buying back now to have more bitcoins.
in the end as a trader you always leave something on exchanges unless you don't want to trade for a couple of days anymore.
I agree that exchange is being manipulated by the big player so if every one of us is holding bitcoin in our own wallet chances of the bitcoin price will spike.
This seems entirely possible but doesn't seem very likely, especially not for the largest most reputable exchanges. There's no need for them to do such things because they're making masses of money each and every day anyway. In fact for exchanges a bull market is much better than a bear market because there is higher volume and they can make more in fees.
Bitcoin is clearly being manipulated
I don't disagree in the slightest, just I don't think it is being manipulated in the way that the OP described. I don't believe that exchanges are behind the price failing as it is not in their interests, perhaps they could have been involved in the moonshot that was bitcoin reaching $20k.
I hardly keep even my altcoins in exchanges. The fact that exchanges can get hacked is always haunting me so I decided to get myself a hardware wallet and I’m now ok. I can be offline for a month or more without bothering about loosing my coins. It’s high time we used the exchanges for what they are meant for rather than storing our hard earned virtual assets there.
Who is They?
They have always been with us. In olden times it was early Bitcoin adopters. There used to be sell walls on Gox that looked like space elevators.
These days it's going to be all sorts. It's a fact of life. Make your peace with it or clear off.
And no one should be parking coins on exchanges regardless of the evil men do.
They have always been with us. In olden times it was early Bitcoin adopters. There used to be sell walls on Gox that looked like space elevators.
These days it's going to be all sorts. It's a fact of life. Make your peace with it or clear off.
And no one should be parking coins on exchanges regardless of the evil men do.
Excuse me for being a little septic but have you a concrete example to show. Warren Buffet with Bitcoin ? 
BTW, the majority of people doesn't hold the coins on an exchange platform, yes there are a lot of people doing it but it is not the majority. They usually transfer out to another wallet (or web wallet)
BTW, the majority of people doesn't hold the coins on an exchange platform, yes there are a lot of people doing it but it is not the majority. They usually transfer out to another wallet (or web wallet)
This seems entirely possible but doesn't seem very likely, especially not for the largest most reputable exchanges. There's no need for them to do such things because they're making masses of money each and every day anyway. In fact for exchanges a bull market is much better than a bear market because there is higher volume and they can make more in fees.
Bitcoin is clearly being manipulated
This seems entirely possible but doesn't seem very likely, especially not for the largest most reputable exchanges. There's no need for them to do such things because they're making masses of money each and every day anyway. In fact for exchanges a bull market is much better than a bear market because there is higher volume and they can make more in fees.
I'm not saying this isn't possible, but do you have any proof that this manipulation is happening...
This is exactly my thought too because I see this as a sweeping allegation. Unless the OP can provide us with evidence or name the exchanges involved in such. Otherwise, it remains the figment of the OP's imagination and a loose attack on exchanges. On the other issue, I quite agree that many people believe it's a bad idea leaving coins in exchanges but there is little we can do about that. People won't obey this call. Those who trade won't see any sense in it. You need Bitcoin perpetually on exchanges to make trade calls.
I'm not saying this isn't possible, but do you have any proof that this manipulation is happening and that it's the cause of the crash? I don't mean this as a slight, I'm just genuinely curious. My personal opinion is that we're simply in a bear market after the huge December rush, so price drops like this (which isn't even very significant) should be expected here and there.
Either way though, it's a bad idea to keep Bitcoins in exchanges for other reasons, so I agree with that part completely.
Either way though, it's a bad idea to keep Bitcoins in exchanges for other reasons, so I agree with that part completely.
Jump to: