Bitcoin Forum

hi guys, i just want to know if mtgox is the one responsible about the high price of BTC before
then why couldn't other BTC exchang do the same?

There are big rumors that indeed say that the MT GOX 1k ath was due automated bots.

Hey, yes it was responsible, and yes they could do the same and they probably do the same just not to that level.

Phantom Bitcoin are scarey need more regulation on them imo looking forward to a proper decentralized exchange and hopefully others are too and stop feeding these fractional reserve bleeepers

Here you go:

https://willyreport.wordpress.com/2014/05/25/the-willy-report-proof-of-massive-fraudulent-trading-activity-at-mt-gox-and-how-it-has-affected-the-price-of-bitcoin/

quite simply yes they were responsible ... they used a billion non-existent dollars to "buy" (steal) every btc they could for 2 months solid off of their own exchange ... in order to see a price rise like that again it'll take a similar such massive fraud to occur ... or take one of the handful of the world's billionaires actually inexplicably converting all of their assets into liquid cash and then dumping every dime into bitcoin ... or widescale as in society wide adoption and daily use of bitcoin to pay like bills and taxes and gas and groceries and fast food and coffee and theme parks and concert tickets and every every everything like as in soccer moms and grandparents all using bitcoin as opposed to only the anarchists paranoids libertarians drugtraffickers etccriminals ... also yes another exchange could pull off a similar such fraud ... any of the unregulated ones (which they all are , with the exception of coinbase which is not even available to half the states in the us) ... it's just a matter of whether they're happy running successful businesses and collecting daily money from fees and small scale insider bot trading or whether they'd like to risk attempting a similar massive fraud as mtgox ... the scary sad thing is some people are actually hoping for something similar to occur so they might be able to cash out higher ...

Market flat lines never occur... except at MTGOX...

https://www.cryptocoinsnews.com/wp-content/uploads/2014/02/goxrigged.jpg
https://www.cryptocoinsnews.com/wp-content/uploads/2014/02/Gold_Selection_21Feb14_2005.png

looks like artificial basement price walls to me...

all the so called big exchanges have fake transactions. ALL! no exception :)

do you mean couldn't do the same now?
yes they can. but they are more careful so as not to implode like gox

exchanges can use fractional-reserve too: https://bitcointalk.org/index.php?topic=945881.0

No I dont think so, I think the demand rises in that time and selling pressure is much lesser than the demand, most probably that is why the rate gone up huge... and now its came to low.... if you think some exchangers are done the trick then they will do the same again soon, buy a lot of BTC and become a millionaire....

Have you got any proof of this claim you make?

Mtgox fucked the price with he bots they were running but back then there really wasn't many other exchanges to compare price to, now we have lots of exchanges out there all competeing with each other and a lot of people keeping an eye on them.
Harder to get away with these days but thats not to say something similar won't happen.