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Author Topic: MTGOX is manipulating BTC Value.  (Read 7330 times)
zby
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March 23, 2013, 05:26:17 AM
 #41

MTGOX is Bitcoin's central bank.  when someone dumps of coins through MTGOX.  MTGOX sells them at an inflated price because they know they have a monopoly on the entire exchange system. They are making money both on exchange fees and by controlling what the masses think Bitcoin is actually worth. Mark my words.

The problem with your paranoid supposition is the fact that MtGox is not actually buying or selling anything. They just act as a platform for other people to trade bitcoins, and take a slice of each trade as a fee.

Are you sure about that?  I remember something else - at least back in 2011 they admitted to trade on their own exchange.
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oakpacific
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March 23, 2013, 05:56:37 AM
 #42

I am gonna sell my Hotbubbcoin at $1000/coin, a very much inflated price, and I have a monopoly on the exchange system of my coins, are people gonna buy? No, nobody out there would care.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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March 23, 2013, 06:57:16 AM
 #43

The only way they are influencing the price is by their freaking lag. MtLag.

But that's a perfectly viable way of manipulating the price.  The only question is whether the lag is manipulated in order to smooth out price fluctuations, or exaggerate them.

Civil Liberty Through Complex Mathematics
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March 23, 2013, 08:14:21 AM
 #44

Gox becomes less and less transparent as time goes on regardless they are considered the central authority of Bitcoin and probably always will be.

They will not always be the biggest, that's highly unlikely.
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March 23, 2013, 05:11:49 PM
 #45

MTGOX is over-regulated and I would not touch that exchange with a stick.

First PC game is using Bitcoin as the currency: Fallout 2
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bitcon
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March 28, 2013, 10:12:20 PM
 #46

i tried to tell you this would happen.


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Herodes
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March 28, 2013, 10:25:27 PM
 #47

i tried to tell you this would happen.

bitcon
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March 28, 2013, 10:32:35 PM
 #48

just ignore the API lag and it will go away.


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..ETHLend..1
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