Topic: US to to launch probe into btc manipulation (Read 239 times)
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Any financial sector has whales who manipulate the market to suit their desires. Bitcoin and cryptocurrency is a decentralized sector, and as such is not under the regulation of any body or system.
The actual trading is overwhelmingly centralised and carried out on owned platforms. It doesn't matter what the underlying thing being traded is. I find it very murky as to what actual laws apply here. They're not stock markets, but gold was created several billion years ago out of stardust. People get prosecuted for messing with the trade of bits of pig or orange juice. None of them are centralised in any way but how they're traded can be actionable.
Any financial sector has whales who manipulate the market to suit their desires. Bitcoin and cryptocurrency is a decentralized sector, and as such is not under the regulation of any body or system.
Even if they start investigating, what is the significance of such an investigation? Those who are willing to invest have the right to make money. Is such an investigation ready to deprive such power?
Transactions will include the process of sending and receiving money between multiple users living within the United States. So, in order to safeguard the assets of the US government, companies must abide by the US Money Laundering Act (AML), Money Transactions Services (MSB) for foreign companies, report suspicious behavior and data storage requirements for collation.
I doubt they can do something about it specially that the cryptomarket is decentralized where you can track the wallet address but not the person using it. And yes it is one of the factors or security fearure in this market but it is also one of the disadvantages of it is such cases.
But if a person using a verified account with exchanges and their withdraw funds to their bank accounts then they can try to track it but as you said it will not so easy to do it. Sometimes I too feel that if someone is monitoring all these activities then they can try to reduce fraud and scam activities. Many non-bitcoin users still think that Bitcoin is a scam or Ponzi scheme.
I doubt they can do something about it specially that the cryptomarket is decentralized where you can track the wallet address but not the person using it. And yes it is one of the factors or security fearure in this market but it is also one of the disadvantages of it is such cases.
Bitcoin Gold is a fork from the BTC, currently capitalized at $ 820 million, the 26th largest capitalized currency. On 19 May 2018, a miner captured BTG's control after occupying it. More than 51 trucking capacity of the network. Immediately after the attack, the development team asked the exchanges to increase the number of confirmed to 50 when the previous attack the hacker group can still reverse the transaction with 22 confirmed. An estimated $ 18.6 million hacker group, in the attack. That is why the US government needs to intervene and open investigations.
I think government intervention is useful especially since the market seems to be witnessing a lot of fraud "ICOs" and false currency "useless coins/ fake bumping."
Even Bitcoin did not escape these operations, as the price rose incredibly during the last months of 2017 "Fake bumping."
If this news is real, the price will decline in the short term and will rise healthily over a long time.
Also, fighting false rumors and news will help prevent people from losing in cryptocurrencies
Most of us doesn't really like to have that government intervention but when they do let do take focus on fraud and other similar things then we cant really avoid for us to go with their motive which is actually good.Even Bitcoin did not escape these operations, as the price rose incredibly during the last months of 2017 "Fake bumping."
If this news is real, the price will decline in the short term and will rise healthily over a long time.
Also, fighting false rumors and news will help prevent people from losing in cryptocurrencies
Stopping and finding possible manipulations or any shady act will really be something.If we do currently seeing on the current market condition we do really need some clean up but talking about manipulation no matter how you do try to stop it, it will still exist even on institutional investments.
This is not really good. It seems it is common knowledge here that this has been happening. But I am actually just coming across this sort of news for the first time. I think the Blockchain technology is a really genius innovation. But if such manipulations continue in the crypto market, then it's a bad thing. Serious action will definitely be taken soon. It is only a matter of time. Even if legal action is not taken, this discovery will discourage investors in the long run.
I welcome this move of the US Justice Department to investigate any btc irregularities or price manipaulation.
Nothing is really a full proof/ fail safe market trading system.
In stock market, there is insider trading. Allegedly in cryptocurrency, there is "flooding" of fake orders. I Hope after the scrutiny of the US agency, they would come up with a better solution.
Nothing is really a full proof/ fail safe market trading system.
In stock market, there is insider trading. Allegedly in cryptocurrency, there is "flooding" of fake orders. I Hope after the scrutiny of the US agency, they would come up with a better solution.
The whole idea about this is to find ways that will make bitcoin less cumbersome and "safe " for institutional investors to come into cryptos. Market manipulation is not new, it happens even in the grossly regulated stock market
This is a good start to look into a good solution for later in the row. Not sure if there is any good from it right away.
It will be a lot better. But it takes time to prepare and many ideas are formed as well. This helps investors to feel secure and not discouraged.
we think this is good for blockchain and cryptocurrency community. Bitcoin can value higher without manipulations and Bitcoin has good future. so little bit cleanup will helpful for the long run.
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This is a good start to look into a good solution for later in the row. Not sure if there is any good from it right away.
Thanks for that article, I've got now an idea on how they are manipulating the market.
Being a whale isn't the only way to manipulate the market and thanks to the Justice Department that is concerned with the market.
Actually I'm not looking to the manipulation or what but I'm even more concerned as this is a way to introduce that the US government is now getting involved and concerned about bitcoin.
Being a whale isn't the only way to manipulate the market and thanks to the Justice Department that is concerned with the market.
Actually I'm not looking to the manipulation or what but I'm even more concerned as this is a way to introduce that the US government is now getting involved and concerned about bitcoin.
I think government intervention is useful especially since the market seems to be witnessing a lot of fraud "ICOs" and false currency "useless coins/ fake bumping."
Even Bitcoin did not escape these operations, as the price rose incredibly during the last months of 2017 "Fake bumping."
If this news is real, the price will decline in the short term and will rise healthily over a long time.
Also, fighting false rumors and news will help prevent people from losing in cryptocurrencies
Even Bitcoin did not escape these operations, as the price rose incredibly during the last months of 2017 "Fake bumping."
If this news is real, the price will decline in the short term and will rise healthily over a long time.
Also, fighting false rumors and news will help prevent people from losing in cryptocurrencies
The Justice Department has opened a criminal probe into whether traders are manipulating the price of Bitcoin and other digital currencies.
https://www.bloomberg.com/amp/news/articles/2018-05-24/u-s-weighs-criminal-probe-into-bitcoin-price-rigging
Well we all know its been going on, but is anything actually going to be done about it. Doubt it.
https://www.bloomberg.com/amp/news/articles/2018-05-24/u-s-weighs-criminal-probe-into-bitcoin-price-rigging
Well we all know its been going on, but is anything actually going to be done about it. Doubt it.
This shows good sign to the market but not only this we need to some regulations with the traders and news has been sharing on local news with the team to filtrate it.
I believe these side is the major reason to see the dump. Automatic downfall of supply is rarely happen in the market so if we control these people alone you will never the issue for sure mate.
If you want to fuck up a good thing, get the government involved.
I consider that crypto market must be under control and the such steps is quite good news but it is not sufficient because we need to have a committee which will monitor suspicious market activity I mean something like https://www.cftc.gov/
That would be a good start but there is still a lot of manipulation in the gold and silver markets that isn't stopped. Maybe exchanges and users could become self regulating as well.
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