It is time to question Poloniex market manipulation

[The Sceptical Chymist]

There are no rules about wash trades with cryptocurrency, right?  I know in the U.S. you can't do wash trades with stocks (last I remember anyway). 

It's crazy how very much we're still in the wild west,  in the frontier land with redskins shooting arrows at us and killing our horses.  Proud to be part of the virtuous side of it, not the devious side.

[1715497884]

1715497884

[1715497884]

1715497884

[vlom]

Roach, is this you? 

https://www.reddit.com/r/Bitcoin/comments/4jg1br/psa_poloniex_is_close_to_insolvency/

Haha.

These are some serious accusations...

uuups, if this is true und polo is going down then... mhh i don't know what to say.

i hope this is not true.

[spartak_t]

Do they have any venture capital backing them?

I think they don't...

[rigel]

I'm not an expert in trading.
is wash trading illegal on its own or is it illegal only when is used to evade taxes?

[GreenBits]

I'm not an expert in trading.
is wash trading illegal on its own or is it illegal only when is used to evade taxes?

Yes, if involving securities (legally these are securities), any attempt to defraud shareholders of value is illegal (this would be considered price manipulation). There is no doubt in my mind the volume is artificial, people in this space forget a single person in the real world with money could damn near buy up an orderbook . These markets don't have very large caps compared with regulated markets that state actors participate in.

Look at the doge chart on polo. Looks like a goddamned ekg.

[tokeweed]

Roach, is this you? 

https://www.reddit.com/r/Bitcoin/comments/4jg1br/psa_poloniex_is_close_to_insolvency/

Haha.

Roach has had a bug up his ass ever since he invested in BTS and the trolls on Polo dumped on him. He whined and complained that these markets don't have enough liquidity to support margin trading. He's right, but so is the fanatic standing on the corner yelling the Apocalypse is coming. I have lines plotted from 6 months ago on Bitstamp, and its a joke how obvious BTC trades. These markets trade like the guy who plays ABC poker. Yes Roach, Polo is a turd festival, but so is everything else in this rigged world. To me, you are nothing but another mushroom farmer.

Yup.

[ProfessionalGoogler]

Everytime this guy posts we need this:

[r0ach]

bl234st is right for one thing. Judging by your threads and posts, you are looking like a very negative person. I'm not blaming you, I'm just pointing to the facts...

Sorry to be rude, but maybe your brain power is just slightly lacking since you don't realize there are 5 billion alts and 99.9% of them are scams.  While you're performing fellatio on the scammers, most people know that none of these things have improved on BTC at all besides zk-snarks and ring signatures for anonymity (Zcash and Monero).  People like Belcher have already worked on p2p coinjoin for Bitcoin, so there's probably no reason for DASH to exist.  When I say "improved", it's not really clear on-chain anonymity will even be useful when you have to scale off-chain or via transaction bundling (2nd tier LN type solutions).

As for $martcontract$, Ethereum was just a joke from the start.  Releasing an IPO cash grab for a coin they didn't know how to make work, and we're now seeing likely not possible to work beyond a proof of concept level.  So yes, when speaking about altcoins, there's not a whole lot to be positive about.  You likely have a few video cards laying around you mine scamcoins with and instantly dump them, so your attitude towards them is positive as a money source.  If you look at them from the perspective of investing actual money, then logging on an altcoin exchange is like a Bernie Madoff theme park.

[kiklo]

r0ach and I have our disagreements,

But he could be spot on about Poloniex.

The changes to their fee structure recently does seem to indicate they are trying to draw in more large investors which indicates they are hurting for money.

Previous thoughts on the matter:

I dont get the meaning of these at all,poloniex is taking a good income daily and huge volume more then enough to keep smiling ,now because other exchange gone,and the fees changed people start the countdown.Why dont you speculate about the others exchanges as well?

Funds missing on Bittrex ,  No speculation there. 
https://bitcointalk.org/index.php?topic=1423584.0

Reason so much speculation on Poloniex is that they seem to be a mimic of Cryptsy six months before their crash.
(When everyone thought everthing was wonderful , with high trading volume and the fact coins sold for more on cryptsy than other exchanges)
(Turned out they were pulling a fractional reserve on everyone and lying thru their teeth.)
I mean if everything was really great , why the fee change to try and entice the uber rich to trade there , by almost making it free for them.
* This means they will actually make less money in the long run.*  (Just something to think about)
With Cryptsy gone, Poloniex became the top US Exchange, because very few like Delistrex, there was no need for a fee change, ( unless you believe the top exec thought to himself , we are making too much money, better make it cheaper for the rich to trade here.) 

As with all exchanges whether you believe their foundation is solid or not,
Never Leave more Coins sitting than what you are willing to Lose!

 

FYI:
http://www.investopedia.com/articles/financial-theory/10/spotting-companies-in-financial-distress.asp

Or when a company all of a sudden starts slashing prices, you have to ask yourself: "Why?" It may mean that the company is in a big rush to increase sales volume and get more cash into the business– regardless of potentially detrimental impact of such a move long term impact on profits or its brand. A desperate grab for cash – also witnessed when companies suddenly start selling off core business assets – could be a sign that suppliers or lenders are banging at the door.

FYI2:
Plus we have no way of knowing if all of that Volume is truly from traders or if Poloniex is just artificially trading to pump their volume with automated trading.
Watch their https://poloniex.com/exchange#btc_eth  market , it is nothing but a computer trading.

In the Changing of the FEE News @ Poloniex Exchange
Starts March 20th, 2016
https://poloniex.com/fees/

Every 24 hours, we will calculate the last 30 days of trading volume on your account and dynamically adjust your fees according to the following schedule:
Maker    Taker    Trade Volume (trailing 30 day avg)
0.15%    0.25%    < 600 BTC
0.14%    0.24%    = 600 BTC
0.12%    0.22%    = 1,200 BTC
0.10%    0.20%    = 2,400 BTC
0.08%    0.16%    = 6,000 BTC
0.05%    0.14%    = 12,000 BTC
0.02%    0.12%    = 18,000 BTC
0.00%    0.10%    = 24,000 BTC

OK, which one of you guys is spending 24,000 btc a month?   

Back to Sanity, I don't know why but it seems like everytime these exchanges get into trouble behind the scenes, they start changing their fee structure.  Could just be a coincidence , but a friendly reminder on Poloniex .

Never Leave more coins sitting on an exchange than what you are willing to Lose!!!

Cryptsy changed their Fee structure to favor traders and in less than 6 months they were done , and now Poloniex is doing something similar.   

Starting the 6 month timer.
http://www.timeanddate.com/countdown/generic?iso=20160920T0001&p0=412&msg=Poloniex+Exchange+Still+Open+or+Forever+Closed!!!&font=cursive

 

[tokeweed]

Lol ok.

[tokeweed]

And I like the new fee structure.  It encourages people to make more limit orders making the market more liquid.

[spartak_t]

bl234st is right for one thing. Judging by your threads and posts, you are looking like a very negative person. I'm not blaming you, I'm just pointing to the facts...

Sorry to be rude, but maybe your brain power is just slightly lacking since you don't realize there are 5 billion alts and 99.9% of them are scams.  While you're performing fellatio on the scammers, most people know that none of these things have improved on BTC at all besides zk-snarks and ring signatures for anonymity (Zcash and Monero).  People like Belcher have already worked on p2p coinjoin for Bitcoin, so there's probably no reason for DASH to exist.  When I say "improved", it's not really clear on-chain anonymity will even be useful when you have to scale off-chain or via transaction bundling (2nd tier LN type solutions).

As for $martcontract$, Ethereum was just a joke from the start.  Releasing an IPO cash grab for a coin they didn't know how to make work, and we're now seeing likely not possible to work beyond a proof of concept level.  So yes, when speaking about altcoins, there's not a whole lot to be positive about.  You likely have a few video cards laying around you mine scamcoins with and instantly dump them, so your attitude towards them is positive as a money source.  If you look at them from the perspective of investing actual money, then logging on an altcoin exchange is like a Bernie Madoff theme park.

There may be not 5, but 50 billion coins, from which 99.99% are scams, but you just proved that you'd prefer to just trolling, instead at least try to make some researches. One of the proofs is that you are talking to me in this way. Frankly speaking, if you do that in real life, and in front of me, you'll be in deep trouble.

You may think that I am "performing fellatio on the scammers", but where is your proof for that? If you look more carefully you'll realize that I am everything, but a scammer (or their supporter). And at least I am trying to do something positive!

[polarpanda]

Yeah... too much conspiracy.

More like simple math.

It's blatantly obvious Eth is and has been wash traded by a single entity on Poloniex for literally months now.  Their fee structure is setup where someone pushing that volume would have 0.10% taker fees and 0.0% maker fees, so 0.05% if wash traded.

On a slow Eth day of 20,000 BTC volume, that would be 100 BTC per day in wash trade fees.  Does anyone honestly believe the Poloniex Eth manipulators pay that much?  Hell no. 

20,000*0,05%=10?

[stoat]

So much sour grapes

[tokeweed]

So much sour grapes

Exactly.  He was an avid follower of the Larimers once.  He defended them even when the Larimers were sucking the Bitshares community dry.  Now he sold all his BTS and is making whining these boards his hobby.

[r0ach]

Exactly.  He was an avid follower of the Larimers once.  He defended them even when the Larimers were sucking the Bitshares community dry.  Now he sold all his BTS and is making whining these boards his hobby.

Wrong.  I talked to Larimer stating why their system wasn't anti-fragile enough and needed to be changed, but nobody else seemed to think so.  The bitshares forum is a giant echo chamber.

[DecentralizeEconomics]

Exactly.  He was an avid follower of the Larimers once.  He defended them even when the Larimers were sucking the Bitshares community dry.  Now he sold all his BTS and is making whining these boards his hobby.

Wrong.  I talked to Larimer stating why their system wasn't anti-fragile enough and needed to be changed, but nobody else seemed to think so they were too busy picking all the flesh off the bones of their victims of which I was one.  The bitshares forum is a giant echo chamber.

FTFY

[r0ach]

Well yea, all PoS systems are useless.  Just like unprofitable PoW is also useless (the come from beyond and anonymint idea).  Nobody has improved on Bitcoin at all yet.

[tokeweed]

Exactly.  He was an avid follower of the Larimers once.  He defended them even when the Larimers were sucking the Bitshares community dry.  Now he sold all his BTS and is making whining these boards his hobby.

Wrong.  I talked to Larimer stating why their system wasn't anti-fragile enough and needed to be changed, but nobody else seemed to think so they were too busy picking all the flesh off the bones of their victims of which I was one.  The bitshares forum is a giant echo chamber.

FTFY

Hahahaha.  Nice.  Keep 'em coming for Roach's sake.

[grv]

r0ach and I have our disagreements,

But he could be spot on about Poloniex.

The changes to their fee structure recently does seem to indicate they are trying to draw in more large investors which indicates they are hurting for money.

yeah that was a red flag for me just like with craptsy
plus another red flag which is daily withdrawal "limits" for crypto
(aka "to stop bankrun on wallets because we run on fractional reserve")

better safe than sorry

dont trust "exchanges" that run without multisig wallets
crypto exchanges should be trustless just like bitcoin, fully transparent, public transactions with all trades verifiable against multisig addresses