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lay785 (OP)
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May 07, 2015, 09:59:56 AM |
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Until very recent times the BTC-E price was usually around 1% below bitstamp/bitfinex pricing.
However something changed and the price on BTC-E has been consistently priced above both the bitstamp and bitfinex prices.
Additionally the volume traded on BTC-E has greatly increased. When there are large dumps which influence the prices on other exchanges, BTC-E surprisingly absorbs large amounts of coins. Every cent downward seems to be hard fought on this exchange.
There are various theories for the sudden change in activity. IF anyone has any additional explanations/theories please post below.
1) The proximity of the exchange to Europe and therefore its usage by residents of Greece and Ukraine.
2) Insider trading on the most secretive BTC exchange.
3) Recent reports about Coinbase and other centralized exchanges, zealously reporting their users activities to the authorities, even in cases where they are not required to do so.
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1Referee
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May 07, 2015, 10:27:59 AM |
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I would go with point 2.
BTC-E is always known for not being open, which makes it easy for certain people related to, or perhaps being it the exchange operators themself who consistantly manipulate the price nowadays.
An exchange can manually create hundreds of thousands, if not millions of not existing Bitcoins to absorb huge dumps in order to get the price above a certain level.
But that's just theory, perhaps there are new wealthy investors active on BTC-E causing a genuine increase of volume and liquidity.
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minerpumpkin
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May 07, 2015, 11:02:51 AM |
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Haven't they claimed to having established some sort of connection to a regular broker or exchange over there. Is there anything true about these rumours? Greece, etc... I don't know... The volume happening in Greece seems to be pretty low, still, and I don't see why they would prefer an exchange "nearby" over an exchange in their own country (which apparently is trading on very low volume at the moment, still)
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I should have gotten into Bitcoin back in 1992...
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lay785 (OP)
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May 07, 2015, 11:33:36 AM |
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Haven't they claimed to having established some sort of connection to a regular broker or exchange over there. Is there anything true about these rumours? Greece, etc... I don't know... The volume happening in Greece seems to be pretty low, still, and I don't see why they would prefer an exchange "nearby" over an exchange in their own country (which apparently is trading on very low volume at the moment, still)
As far as I understand using an exchange like BTC-E may help EU citizens avoid various taxes. |
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minerpumpkin
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May 07, 2015, 12:57:36 PM |
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Haven't they claimed to having established some sort of connection to a regular broker or exchange over there. Is there anything true about these rumours? Greece, etc... I don't know... The volume happening in Greece seems to be pretty low, still, and I don't see why they would prefer an exchange "nearby" over an exchange in their own country (which apparently is trading on very low volume at the moment, still)
As far as I understand using an exchange like BTC-E may help EU citizens avoid various taxes. Really? But I believe we're merely talking about potential tax evasion, right? I can't see any way to legally save taxes by buying/selling/trading on BTC-e... Also I still think that exchange has quite a dubious reputation. The other day someone was claiming he/she was waiting for funds to be credited for 10 days and the only thing BTC-e's support was apparently saying was "Not today, but maybe tomorrow" or something along those lines. |
I should have gotten into Bitcoin back in 1992...
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lay785 (OP)
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May 07, 2015, 01:25:29 PM |
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Haven't they claimed to having established some sort of connection to a regular broker or exchange over there. Is there anything true about these rumours? Greece, etc... I don't know... The volume happening in Greece seems to be pretty low, still, and I don't see why they would prefer an exchange "nearby" over an exchange in their own country (which apparently is trading on very low volume at the moment, still)
As far as I understand using an exchange like BTC-E may help EU citizens avoid various taxes. Really? But I believe we're merely talking about potential tax evasion, right? I can't see any way to legally save taxes by buying/selling/trading on BTC-e... Also I still think that exchange has quite a dubious reputation. The other day someone was claiming he/she was waiting for funds to be credited for 10 days and the only thing BTC-e's support was apparently saying was "Not today, but maybe tomorrow" or something along those lines. Obviously not legally or else everyone would do it :p Depositing money into their exchange can be risky, it always has been. Their customer support is said to be terrible as well. |
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randy8777
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May 07, 2015, 05:32:32 PM |
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i think with the higher exchange price they are trying to get people to deposit coins on btc-e for some reason. maybe to generate extra volume to get more fee income.
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manselr
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May 07, 2015, 06:47:19 PM |
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Basically all exchanges are running bots these days, it's really obvious in Poloniex. I was on the MAID market trying to pick up some cheap MAID and as soon as you put an order, there are orders put on top of your buy order, you can try for yourself.
Im sure BTC-E is investing in bots to keep their price as the leading BTC price since it has a strong psychological factor "oh must as well deposit here, they go the highest price".
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hellscabane
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May 07, 2015, 06:52:47 PM |
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I'd say there is definitely some skewing towards the second point hand in hand with their PAMM service. In order to get the growth schedules that some subscribers have laid out, there needs to be some sort of cash flow in this relatively stable market.
[It also looks to me there are bits of arbitrage tactics and greek hedging going on too...]
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(Lithium)
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May 07, 2015, 06:59:33 PM |
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Chechnya's Muslims are planning to do a Willy Bot 2.0 thing using BTC-E so they can earn lots of money and fund ISIL, to make them able to take all Syria,Iraqi and Libya and finally attack Italy
They are just rehearsing for now.
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ElectricMucus
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Marketing manager - GO MP
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May 07, 2015, 07:06:19 PM |
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BTC-E has become the largest non-Chinese exchange, which is if you think about it quite telling.
Not because they are so awesome, but because they are still left relatively un-scorched.
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lay785 (OP)
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May 08, 2015, 06:08:57 AM |
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BTC-E has become the largest non-Chinese exchange, which is if you think about it quite telling.
Not because they are so awesome, but because they are still left relatively un-scorched.
So you count bitfinex as a chinese exchange? Hong Kong is technically china but its kind of different to the mainland. |
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ElectricMucus
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May 09, 2015, 11:56:47 AM |
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BTC-E has become the largest non-Chinese exchange, which is if you think about it quite telling.
Not because they are so awesome, but because they are still left relatively un-scorched.
So you count bitfinex as a chinese exchange? Hong Kong is technically china but its kind of different to the mainland. I sort of forgot about bitfinex because I see them more of a leveraging platform, but yes they are an exchange, they take USD so perhaps they should be counted as largest exchange not depending on people trading BTC for CNY. Kind of OT, Hong Kong is Chinas main export valve. May of the things we take for granted coming out of Chinese production are funneled through it. |
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