Bitcoin Forum

True or false?

Its hard to say true or false to this its pretty much speculation.  However if you believe bitcoin price was all based on an exchanges ability to manipulate then this is actually great news for hodlers because if its that easy it will happen again.

ya know, hard to say.. but its pretty obvious or one hell of a coincidence that btc shot up like it did and they had that bot or whatever.. if mt gox made btc go up, too bad they went under, lol.

You just had to reply, and so did I. The evidence is that karpeles [was] probably lifted [of] hundreds of thousands of btc in 2011, he was likely just trying to remain solvent and keep the charade going using accounts that purchased with phantom dollars in 2013.

China played a big role, but the "real" and relentless buying with fake money hit hard too. It is safe to assume we don't want that scenario again, and it may be limited/impossible now that the activity is spread across several platforms.

We're in the midst of trying to determine the real level, with the wildcards of GBTC and the KnC ETN on nasdaq nordic. The price has to sustain the selling pressure of early adopters to holding thousands of coins diversifying, miners selling to pay bills, businesses converting to fiat. Steep climb until the halving, but sure to be a fun ride.

Very possible. He would at least attempt to get a huge user base to steal coins from again. Who knows what he would do to avhieve that.
I doubt that's going to happen though. I think he's good for now sitting on 500k BTC with his fat ass.

i would expect a less higher ath price if there was another big pump like the one from 2013, just to hides his moves maybe

Funny that you mentioned that, because Karpeles mentioned that he would see Bitcoin go above 1000 USD by the end of 2013 in this interview https://www.youtube.com/watch?v=s4l_lHGMhlw (https://www.tumblr.com/video_file/117287183117/tumblr_nnc2m4mkUU1qmn0je)

I don't think the price was all based on manipulation. Real money was changing hands at every price. But I think that the market was given nudges. There were times when the bulls were running out of steam and a nudge made it look like buying pressure was inexhaustible.

he would because it was very easy for him to make loads of money very quick. i'm quite sure he would repeat it for another big rally. thiefs are thiefs.

Before the rally Mt Gox had the biggest market share. The volume on the other exchanges was insignificant compared to it. No one  exchange has that market share today, so even if Mark Karpeles was running the top exchange it would not have market share needed to fake another rally.

That inspired me to look back through historical market shares.

http://data.bitcoinity.org/markets/volume/2y?c=e&t=a&volume_unit=btc

It's mind blowing that Gox still had such a large share in late 2013 considering you couldn't get one cent out of it for multiple months leading up to the major rally.

False. It's delusional to think that "willy the bot" was fully responsible for the big 1K peak. The bot was only a fraction of the pump, you would need excited people to follow up with the pumping, otherwise it would never work. Also, all exchanges have bots on them putting fake orders, including regular stock exchanges.

False. There are already many alternative exchanges out there.