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Author Topic: LOL@GOX price manipulation  (Read 2884 times)
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April 12, 2013, 06:23:23 AM

Its at $101.90 right now, so server is about to shut down again?

I believe it is. Is this the fourth time they will have stopped and restarted this thing after it started falling? I've lost track. They restarted once after my last post....
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April 12, 2013, 06:25:42 AM

if you dont have balls of steel you probably lost money today.

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April 12, 2013, 06:26:40 AM

While I'm far from accusing anyone of bad intentions, it's hard not to see that they probably liked the recent events:

Even if all trades had only 0.3% fee, they've earned more than 700K USD last week only (12M volume as seen on the chart above). Compare that to 150-200K they've earned in January and you'll see that they probably want the price to go sky high.

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April 12, 2013, 06:30:16 AM

This is the second time they've restarted us much higher than where we stopped. And we're headed back down....and of course, when we start going down we lag. Are they going the shut this off again because we aren't going in the right direction?

And they are not crediting bitcoin deposits.

"It is, quite honestly, the biggest challenge to central banking since Andrew Jackson." -evoorhees
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April 12, 2013, 06:38:51 AM

They could make enormous profit if the rigged the buy sell offers.  Because of 5 min lag!  They get 2 market orders, 1 bid and 1 sell. They execute bid for high, they execute bid for sell.  They profit off the spread with no risk.
That's called "front running".

Gox is essentially an unregulated exchange circa 1920. Bids/asks are mismatched to the point of malfeasance (or worse) during these lags. Churning, front running, wash trades, etc.....

Agreed agreed agreed.  I just started following btc in jan 2013, and this has become more than apparent. Gox is manipulating the hell out btc value. Playing off the fears an fervor. . I can't believe more arent talking about this. Seems all ppl want to do is repeat bs about dos attacks, and how they seen it coming. Sure we all seen it coming but its the way it was executed and orchestrated. . And the way the alleged " oldest most sophisticated" btc exchange is handling things.

Is it too late to support the other exchanges?

Free Litecoin Faucet --->
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April 17, 2013, 04:08:34 PM

LOL @ the trolls/shills in this thread. Fraud proofing decentralized fiat-Bitcoin trading.
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