People do not realize how manipulated the traditional financial markets are otherwise known as Wall Street. Cryptocurrency is less manipulated as it's run by a different culture of people.
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Researchers find that one person likely drove Bitcoin from $150 to $1,000
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Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#12People do not realize how manipulated the traditional financial markets are otherwise known as Wall Street. Cryptocurrency is less manipulated as it's run by a different culture of people.
What culture would that be?
Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#13People do not realize how manipulated the traditional financial markets are otherwise known as Wall Street. Cryptocurrency is less manipulated as it's run by a different culture of people.
I don't believe that to be true. Cryptocurrency is very easy to attack. Look at the previous ethereum, bitcoin, etc attacks. Not to mention massive wallet thefts. The complete lack of any insurance. It's very much a wild west market.
Sure the traditional stock market is heavily manipulated but there's enough cross competition there that it balances out.
Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#14People do not realize how manipulated the traditional financial markets are otherwise known as Wall Street. Cryptocurrency is less manipulated as it's run by a different culture of people.
It's not technically incorrect to say there is manipulation in the US markets, but comparing bitcoin exchanges to US exchanges is a bit laughable.
The US Federal Reserve has (had) what amount(ed) to a printing press, associated with "working groups" a.k.a. PPT. However, major US exchanges themselves, whether stock, futures, etc., are far more regulated and mature compared to a bitcoin exchange. The manipulation to which you're referring is far more indirect.
Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#15Explains a lot. A casual review of many coin price histories gives you the sense that something might be "off," although that is just my subjective view.
Another one: coins in general would have been far better off without this current pricing bubble.
Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#16Bitcoin topped out as soon as the futures went live. Massive contango on a regulated futures market may have been a factor in "reeling in" price. The spot market is so thin that it didn't seem to take much open interest in the futs to whip the underlying. It's conceivable that some spot exchanges are or were still from 2017 to now, either malicious and/or incompetent, which would facilitate the continuation of such b…
Perhaps, but bitcoin futures are advertised like crazy on the the futures exchange, but volume is completely minuscule compared to other commodities (and crypto exchanges for that matter).
Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#17Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#18As an interesting thought experiment, consider that VC is a tiny asset class. Now consider that if the amount invested in crypto were the same as is invested in VC, the market cap of crypto would be over 100 trillion dollars. At least if you assume a fixed ratio of dollars invested to market cap.
Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#19Bitcoin topped out as soon as the futures went live. Massive contango on a regulated futures market may have been a factor in "reeling in" price. The spot market is so thin that it didn't seem to take much open interest in the futs to whip the underlying. It's conceivable that some spot exchanges are or were still from 2017 to now, either malicious and/or incompetent, which would facilitate the continuation of such b…
since the futures are cash settled, is it really possible for there to be such a tight correlation?
also, I surmise that a major factor in the correction we've witnessed in the past month or so has been the congested mempool (high fees and slow tx times).
Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000
#20>The bottom line is simple: if Bitcoin wants to be taken seriously it probably should be this easy or legal to manipulate the markets. wat
Seems natural continuation of a post titled "Researchers finds".
Seriously - wat.