WTF just happened?? Bitfinex scam ??

Duogembrot

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Quote from: sjefdeklerk on February 01, 2018, 03:26:53 PM

Did any of you guys see that ? A HUGE refresher on bitfinex stalled the market. Where all other markets sold down to below $8500 there was this 1 guy on bitfinex who kept buying and buying EVERYTHING around the $9000 level. This 100% wasn't normal market behaviour why would anyone buy thousands of bitcoins and pay $500 too much on every bitcoin, basically throwing away millions and millions of dollars ? I think this only could have been Bitfinex themselves, buying the market up with fake tether money.

this possibility to boost the popularity of the bitfinex exchange market and attract some big players to trading on bitfinex I hope this does not make or harm others.

sjefdeklerk

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Quote from: sjefdeklerk on February 15, 2018, 07:23:11 PM

Zerohedge did an article today, this guy bought 32.000 btc beginning of february, pretty sure this is the 'mysterious refresher buyer' I saw: https://www.zerohedge.com/news/2018-02-15/bitcoin-tests-10k-mysterious-crypto-trader-dip-buys-400-million

He's now the 3rd biggest BTC holder in the world. Nobody knows who this is of course. Might be bitfinex related, but also might really be just some hedgefund for example. Then again, it really smells like bitfinex scam, for normal users wouldn't buy the way this guy did.

Well this wallet is not related, this is Huobi.

sjefdeklerk

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Zerohedge did an article today, this guy bought 32.000 btc beginning of february, pretty sure this is the 'mysterious refresher buyer' I saw: https://www.zerohedge.com/news/2018-02-15/bitcoin-tests-10k-mysterious-crypto-trader-dip-buys-400-million

He's now the 3rd biggest BTC holder in the world. Nobody knows who this is of course. Might be bitfinex related, but also might really be just some hedgefund for example. Then again, it really smells like bitfinex scam, for normal users wouldn't buy the way this guy did.

WhaleSlayer

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Quote from: pooya87 on February 02, 2018, 12:20:47 AM

there is this button on your keyboard called PrtSc which takes a screenshot of what you are seeing Grin

anyways bitfinex is as it has always been, a small part of the bitcoin market currently with about 6% of the total volume. i seriously doubt (as i have always doubted this before) that they are using printed tether to buy bitcoin. a market that small can not change much.

besides seeing lots of buys happening at some price level doesn't necessarily mean some shenanigan is going on. it might as well be some FOMO buying of weak hands who bought bitcoin at $12k+ dumped at $9k in panic, FOMO bought back at $10200 and sold again at $9k+ level. there is no reason for these people's behavior to suddenly change just because price is now lower!

Technically speaking, it could even be the activity of bots, since I guess that big financial groups don't put employees to press buttons for days and days if they can put bots. Of course, one would expect that bots are better programmed though.

exchange.blue

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Quote from: sjefdeklerk on February 02, 2018, 12:52:27 PM

Quote from: BitcoinHodler on February 02, 2018, 08:31:05 AM

you are trying way too hard to create a conspiracy theory now.

LOL. If you'd just have watched the T&S instead of posting here you wouldn't post this kind of thing. I'm actually really amazed nobody is even reacting here who saw it, this is the 'trading discussion' forum, nobody here watches T&S ? What kind of traders are you guys?

Anyway, somebody has bought over 20.000 BTC on bitfinex in the last 24 hours, holding up the whole bitcoin market. While other marketplaces (GDAX, Kraken etc) just dropped he paid almost always more than $400 above the market price, often times even $500. That's 100% sure no normal market behaviour. Nobody in his right mind would give away millions and millions of dollars.

It was so easy to identify him because he was using iceberg/hidden orders on each $50/$100 level

that explains anomaly in pricing

whyrqa

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Quote from: BitcoinHodler on February 02, 2018, 08:31:05 AM

you are trying way too hard to create a conspiracy theory now. we all know there are some fucked up things going on in bitfinex and with tether but you are exaggerating them be a factor of 20.

Quote from: sjefdeklerk on February 02, 2018, 07:50:07 AM

The whole reason all other coins are down 30% and bitcoin only 14% is this guy.

in case you have missed the past 5-6 years that is the most normal thing to happen. bitcoin drops a little and altcoins drop a lot. it is not new. and that is first because dumping $1000 on bitcoin is not like dumping $1000 of an altcoin. the same amount can kill an altcoin whereas it is nothing for bitcoin.
second the panic in altcoins is a lot fiercer than the panic in bitcoin. people still believe in the future of bitcoin and it still has usage even if its price goes down. but the ONLY usage of altcoins is to go up and when they fail at that they become 100% useless.

in fact, no one promised anyone the gold mountains and every user dealing with crypto-currency, should have meant that there would be such situations and ferry fluctuations in prices for all the crypto currency. Therefore, here, Everyone makes a choice himself at his own discretion. There is nothing to panic if they themselves have started such an activity.

sjefdeklerk

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Quote from: BitcoinHodler on February 02, 2018, 08:31:05 AM

you are trying way too hard to create a conspiracy theory now.

LOL. If you'd just have watched the T&S instead of posting here you wouldn't post this kind of thing. I'm actually really amazed nobody is even reacting here who saw it, this is the 'trading discussion' forum, nobody here watches T&S ? What kind of traders are you guys?

Anyway, somebody has bought over 20.000 BTC on bitfinex in the last 24 hours, holding up the whole bitcoin market. While other marketplaces (GDAX, Kraken etc) just dropped he paid almost always more than $400 above the market price, often times even $500. That's 100% sure no normal market behaviour. Nobody in his right mind would give away millions and millions of dollars.

It was so easy to identify him because he was using iceberg/hidden orders on each $50/$100 level

BitcoinHodler

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HODLing is an art, not just a word...

you are trying way too hard to create a conspiracy theory now. we all know there are some fucked up things going on in bitfinex and with tether but you are exaggerating them be a factor of 20.

Quote from: sjefdeklerk on February 02, 2018, 07:50:07 AM

The whole reason all other coins are down 30% and bitcoin only 14% is this guy.

in case you have missed the past 5-6 years that is the most normal thing to happen. bitcoin drops a little and altcoins drop a lot. it is not new. and that is first because dumping $1000 on bitcoin is not like dumping $1000 of an altcoin. the same amount can kill an altcoin whereas it is nothing for bitcoin.
second the panic in altcoins is a lot fiercer than the panic in bitcoin. people still believe in the future of bitcoin and it still has usage even if its price goes down. but the ONLY usage of altcoins is to go up and when they fail at that they become 100% useless.

sjefdeklerk

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The whole reason all other coins are down 30% and bitcoin only 14% is this guy. He must have bought over 20.000 already with his fake money. I've long doubted the rumours that the bitcoin rip was financed with fake money but now I'm 100% sure. This is really the biggest scam in the history of the financial markets.

sjefdeklerk

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he's at 8000.0 now

And gone. It seems he's putting his bids ever 50.0 or 100.0 now and then pulls them when the other market places are $400-$500 lower. This just makes no sense at all ...

sjefdeklerk

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Yes he's back at 8100.0 now. This is just CRAZY. Other markets trading $7700 and he just keeps on buying and buying and buying giving away millions and millions of dollars by buying $400 too high.

sjefdeklerk

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He just pulled his refresher but I'm sure he'll be back.

sjefdeklerk

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I'm amazed this topic isn't getting more reactions. Aren't people watching the bitfinex T&S ? He's currently at 8150.0 bidding and buying everything with his refresher. While other markets like GDAX and Kraken are trading $7800 already. This 100% is a scam NOBODY gives away that kind of money or is even buying that much coins (he must have bought over 15.000 already in the last 24 hours, maybe even way more). This is the biggest scam in the history of bitcoin. The only explanation that makes sense is that it's bitfinex themselves with unbacked tether trying to keep the market alive.

sweetbet

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I don't think that it's Bitfinex buying with fake tether money. They're in enough trouble already with the U.S. Commodity Futures Trading Commission if that's what they've been doing in the past. It sounds like a mega-whale who is buying the dip and is looking to make a very nice profit when the market recovers.

pooya87

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there is this button on your keyboard called PrtSc which takes a screenshot of what you are seeing Grin

anyways bitfinex is as it has always been, a small part of the bitcoin market currently with about 6% of the total volume. i seriously doubt (as i have always doubted this before) that they are using printed tether to buy bitcoin. a market that small can not change much.

besides seeing lots of buys happening at some price level doesn't necessarily mean some shenanigan is going on. it might as well be some FOMO buying of weak hands who bought bitcoin at $12k+ dumped at $9k in panic, FOMO bought back at $10200 and sold again at $9k+ level. there is no reason for these people's behavior to suddenly change just because price is now lower!

sjefdeklerk

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And there he is again on bitfinex with his refresher, currently 8751.0 eating everything. This guy does NOT want BTC to go down.

WhaleSlayer

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Quote from: sjefdeklerk on February 01, 2018, 05:01:19 PM

Quote from: crypto1010 on February 01, 2018, 04:57:31 PM

Quote from: sjefdeklerk on February 01, 2018, 03:44:13 PM

I just downloaded the bitfinex T&S, he bought at least 6000 BTC's and gave away probaby $500 on half of them, so that's 1.5 million USD he just gave away. Makes no sense at all unless it's somebody with fake tether money.

wow single user buying at least 6000 BTC and here i was thinking of holding the famous 21 bitcoins in the hope of becoming a millionaire one day. But are these accusations true that this user used fake tether Huh

how is that even possible Huh

I don't know if it's true that he's using fake tether. But I do know it was a single user since he used the same refresher/hidden order on a few key levels. I'm just saying, if this was somebody interested in buying BTC at good prices why would he keep holding the $9000 and buy 6000 btc's there while the other markets were trading below $8500 ? That just makes no sense at all from a normal economic perspective. This combined with the recent rumours that bitfinex is using fake (printed, without usd backed) tether to buy other crypto's makes me very suspicious.

Even with tether a normal user would try to spend less than possible, so the allegation that it was Bitfinex itself behing is the most likely one. I guess they would use a badly instructed bot to place all the orders, otherwise even Bitfinex would have bought cheaper.

sjefdeklerk

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Quote from: crypto1010 on February 01, 2018, 04:57:31 PM

Quote from: sjefdeklerk on February 01, 2018, 03:44:13 PM

I just downloaded the bitfinex T&S, he bought at least 6000 BTC's and gave away probaby $500 on half of them, so that's 1.5 million USD he just gave away. Makes no sense at all unless it's somebody with fake tether money.

wow single user buying at least 6000 BTC and here i was thinking of holding the famous 21 bitcoins in the hope of becoming a millionaire one day. But are these accusations true that this user used fake tether Huh

how is that even possible Huh

I don't know if it's true that he's using fake tether. But I do know it was a single user since he used the same refresher/hidden order on a few key levels. I'm just saying, if this was somebody interested in buying BTC at good prices why would he keep holding the $9000 and buy 6000 btc's there while the other markets were trading below $8500 ? That just makes no sense at all from a normal economic perspective. This combined with the recent rumours that bitfinex is using fake (printed, without usd backed) tether to buy other crypto's makes me very suspicious.

crypto1010

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Quote from: sjefdeklerk on February 01, 2018, 03:44:13 PM

I just downloaded the bitfinex T&S, he bought at least 6000 BTC's and gave away probaby $500 on half of them, so that's 1.5 million USD he just gave away. Makes no sense at all unless it's somebody with fake tether money.

wow single user buying at least 6000 BTC and here i was thinking of holding the famous 21 bitcoins in the hope of becoming a millionaire one day. But are these accusations true that this user used fake tether Huh

how is that even possible Huh

exchange.blue

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Quote

We wont know if they are the ones responsible for that or not but well it could be them or just another guy who do have the money to buy on. You would really be surprised seeing these large purchases inspite on seeing a price decline but I would say that guy who bought thousands of bitcoin do really know on what hes doing. Buying cheaper coins as much as he can is quiet a smart move to be done specially on this red market.

you're a fucking genius!

Topic: WTF just happened?? Bitfinex scam ?? (Read 287 times)