An anatomy of Bitcoin price manipulation • Hacker News Board

Re: An anatomy of Bitcoin price manipulation

#451

Post by upsidesinclude » Sun, Jan 23, 2022, 7:31 PM UTC

01acheru wrote: post #211

upsidesinclude wrote: post #148

Earlier quoted context omitted.

Right, because cash has never afforded anonymity... always good enough for the government agencies. This is an entirely boring and tired trope. How about the simple ability to transfer value across international borders, free of extraneous % fees imposed by unnecessary middlemen? That alone is enough of a use case to justify adoption. Banks have reaped rewards unearned for long enough. Those capable and responsible e…

Uhm... there is something called law in most of the world which kind of regulate how and why you can or cannot send money across international borders, I will never understand that "crypto let us do it better than banks". You can send 10BTC to me, you're from Azerbaijan and I'm from France, all cool and nice until I want to cash out on that 10BTC... do you think I can receive 380k EUR on my bank without some governme…

Maybe you'd like to read my post again? Criminality is a trope. Many people that you don't interface with, because they are low stature and status, transfer monies internationally. Pakistanis, Indians, Filipinos in the UAE, South Americans in the US. These people all send money in small amounts. Paying a percentage to a bank on an electronic transfer is idiotic. Why does a bank earn more money for the same service relative to the amount transferred? Why would YOU agree to such a ridiculous term of service? Crypto is increasingly transactable, making conversion irrelevant. Not to mention all the ways we already achieve this be it through PayPal or venmo or Linepay, in-game currencies, reward points.... on and on. It seems you just have a negative view of the technology or a vested interest in the established world of finance. If you are unable to see ANY value in the technology it is because you lack imagination or chose to ignore it

Re: An anatomy of Bitcoin price manipulation

#452

Post by 01acheru » Tue, Jan 25, 2022, 2:09 PM UTC

upsidesinclude wrote: post #451

01acheru wrote: post #211

Earlier quoted context omitted.

Uhm... there is something called law in most of the world which kind of regulate how and why you can or cannot send money across international borders, I will never understand that "crypto let us do it better than banks". You can send 10BTC to me, you're from Azerbaijan and I'm from France, all cool and nice until I want to cash out on that 10BTC... do you think I can receive 380k EUR on my bank without some governme…

Maybe you'd like to read my post again? Criminality is a trope. Many people that you don't interface with, because they are low stature and status, transfer monies internationally. Pakistanis, Indians, Filipinos in the UAE, South Americans in the US. These people all send money in small amounts. Paying a percentage to a bank on an electronic transfer is idiotic. Why does a bank earn more money for the same service re…

> It seems you just have a negative view of the technology or a vested interest in the established world of finance

I have neither.

BTW half of my family lives in South America and I'm in Italy, we have no problem in sending money back and forth and it is cheaper to use a bank than exchanging via crypto.

Also I cannot ask my 85 years old grandma to join Coinbase or Kraken or whatever, but she has a bank account and it works pretty neatly (and yet again, it's waaaaay cheaper than Coinbase fees for example)

That "Filipinos in the UAE" is bullshit. Their problem is not about crypto vs banks, their primary problem is the UAE.

Re: An anatomy of Bitcoin price manipulation

#453

Post by jimmydorry » Thu, Jan 27, 2022, 3:54 AM UTC

rowathay wrote: post #95

jimmydorry wrote: post #85

Earlier quoted context omitted.

I’m not aware of any pundits, that get on the TV to push agendas about stocks, getting in any trouble with the SEC. I’m not sure if it’s just because I have been looking closer recently, or had more time WFH, but the blatant manipulation on morning shows and financial segments is appalling. Things like saying a given pharmaceutical is headed for zero because their drug failed to get FDA approval, when actually the co…

Pardon my ignorance and/or naïveté, but are these real examples?

Apologies, I forget to check my comments for replies all too often.

---

Example 1: Things like saying a given pharmaceutical is headed for zero because their drug failed to get FDA approval, when actually the company had just started their trial and not yet sought approval. (I miss re-called on this one. The company had just finished their phase 3 trial and were about to submit their results to the FDA) [1]

This one is the most damning in my eyes, and is expanded on fully if you are up for reading a 15 page submission made to the SEC.

---

Example 2: Or pushing a stock then pretending to lose connection when asked what the company does. [2]

No easy transcript to link for this one. It happens a few seconds into the clip. "What does Upstart do?"

---

Example 3: Or saying that a company pivoting to online retail will not have the necessary skills and will be facilitating terrorists (name dropping al-Qaeda). [3]

I've linked a transcript, but the specific part I referenced in relation to a company pivoting into e-commerce:

>Then the final issue is anti-money laundering. Imagine if you see some shady organization buying 100 NFTs for $2 million apiece from the same guy. You know, so 200 million being funneled in. Wouldn't that raise the specter that maybe al-Qaeda is funding a terrorist cell?

---

[1] https://www.sec.gov/comments/s7-08-09/s70809-4614.pdf

[2] https://www.youtube.com/watch?v=bKoa5xGwtJk (slightly longer clip but at lower quality https://www.youtube.com/watch?v=wtVMx7ZiOQE )

[3] https://au.news.yahoo.com/gamestops-planned-nft-marketplace-...

Re: An anatomy of Bitcoin price manipulation

#454

Post by SZJX » Fri, Jan 28, 2022, 1:38 AM UTC

IMO the other explanatory post by Coral Alexander linked at the beginning this post did a better job to describe the hypothesis in a more accessible and clearer language. https://www.coalexander.com/post/binance-spoofy-bots-and-liq... In this post, the central thesis that spoofing was the key igniter of the event was not clear IMO and it didn’t explain well how spoofing works, while the other post lays it out very well, along with dedicated explainers for the key terms.