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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

#81

Post by xenadu02 »

krisives wrote: post #31
randomdrake wrote: post #26

Study: Price Manipulation in the Bitcoin Ecosystem Citation: Neil Gandal, JT Hamrick, Tyler Moore, Tali Oberman, Price Manipulation in the Bitcoin Ecosystem, Journal of Monetary Economics (2017) Link: https://doi.org/10.1016/j.jmoneco.2017.12.004 DOI: 10.1016/j.jmoneco.2017.12.004 Abstract: To its proponents, the cryptocurrency Bitcoin offers the potential to disrupt payment systems and traditional currencies. It has…

To be fair regulated markets are vulnerable to manipulation today

That’s like saying the recent California wildfires are equivalent to the Great Chicago Fire.

Both are tragedies and both have a certain element of scale to them, but the Chicago fire was actually much much worse. It killed far more people, made far more people homeless, and destroyed far more economic value (adjusted for inflation).

Yes the current regulated markets have serious problems and are in need of reform. But the scale and scope of fraud and manipulation on all crypto currency markets is vastly larger and far more pervasive.

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#82

Post by dannyw »

paulmd wrote: post #54
wcoenen wrote: post #43

Earlier quoted context omitted.

Tether claims to be backed by USD but could easily be a money printing press injecting fake value into the crypto markets. According to their own data, they have created $1.6B worth of tethers: https://wallet.tether.to/transparency

Don't worry though, they have $900k of assets backing up that $1.6B of Tethers! No problemo! 1800x leverage is a walk in the park right guys? /s

The USD backing Tethers could be used to buy Tethers! Instant capitalisation!

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#83

Post by bduerst »

The number of seemingly throwaway accounts (created in the last few days) commenting on this thread is interesting too:

- https://news.ycombinator.com/threads?id=astund

- https://news.ycombinator.com/threads?id=simplemath__

- https://news.ycombinator.com/threads?id=zhjansbnas

- https://news.ycombinator.com/threads?id=barbegal

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#84

Post by agumonkey »

arcticbull wrote: post #44
agumonkey wrote: post #29

Earlier quoted context omitted.

Any recent manipulations ? especially in 2017 end ?

Most recently, there's the tape-painting bot Picasso: https://medium.com/@bitfinexed/meet-picasso-the-painter-on-g... If you were paying attention in the week that followed this post, the spread between GDAX and the other major US exchanges narrowed from $1000+ per coin to just about $11 right now, and trade volumes on GDAX plummeted. Maybe theres's some other reason, though there's some crazy correlation there at le…

lmao, I imagined doing this one night, as a thought experiment. smh

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#85

Post by qubex »

dannyw wrote: post #82
paulmd wrote: post #54

Earlier quoted context omitted.

Don't worry though, they have $900k of assets backing up that $1.6B of Tethers! No problemo! 1800x leverage is a walk in the park right guys? /s

The USD backing Tethers could be used to buy Tethers! Instant capitalisation!

That’s comfortingly close to fractional reserve banking (which unfashionably I’m a big fan of).

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#86

Post by oculusthrift »

zhjansbnas wrote: post #55
oculusthrift wrote: post #41

Earlier quoted context omitted.

everyone keeps saying that to the point where i start questioning it. there’s no actual proof that this is anything like the dot com bubble.

People with no product raising many millions just by mentioning blockchain - what more do you want?

right but the dot com bubble included Google and Ebay and a lot of other legit companies. Maybe one can argue that bitcoin and Ethereum are the analogs but only time can tell

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#87

Post by FabHK »

astund wrote: post #57

I suspect this is going on today. Cryptocurrency traders place a lot of faith in the exchanges. A bad actor at an exchange could manipulate a price upwards: - Create a ton of volume and potentially and upward trend (two bots trading with one another, increasing the price each time) - Generate hype around a coin - Let FOMO take over If things start to go south, disable withdrawals, deposits, or freeze the market until…

In aviation, the saying goes that "aviation regulations are written in blood", because for many rules, some time in the past people died in an accident, and the rule was established to prevent reoccurrence.

Now, in finance, the situation is not quite so dramatic. Nevertheless, many of the banking rules that cryptocurrencies (and sometimes fintech) aim to circumvent or flout are there for a reason. Surprise!

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#88

Post by lawn »

avenoir wrote: post #46
zebraflask wrote: post #15

Explains 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.

I invest long-term into a couple of interesting projects and you're absolutely right. Most popular alt coins suffer from near daily pump and dumps and and a casual look at hourly charts will easily reveal this. I can't even imagine what a nightmare it is trying to do technical analysis and make sense of the market for those who day-trade cryptocurrencies.

Yup. The worst thing is that coins are pumped without any technical backing at all. For example look into Ripple, Cardano, Tron or Verge.

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#89

Post by eppsilon »

temp wrote: post #12
KasianFranks wrote: post #5

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.

What culture would that be?

These guys, I guess: https://www.nytimes.com/2018/01/13/style/bitcoin-millionaire...

Re: Researchers find that one person likely drove Bitcoin from $150 to $1,000

#90

Post by g09980 »

bduerst wrote: post #83

The number of seemingly throwaway accounts (created in the last few days) commenting on this thread is interesting too: - https://news.ycombinator.com/threads?id=astund - https://news.ycombinator.com/threads?id=simplemath__ - https://news.ycombinator.com/threads?id=zhjansbnas - https://news.ycombinator.com/threads?id=barbegal

Just people are very cautious online with signaling that they have any crypto.
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