Bitcoin Forum
December 12, 2017, 10:29:39 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: r0ach proven right - Bitcoin market is a Gox-style fraud controlled by Bitfinex  (Read 1821 times)
r0ach
Legendary
*
Offline Offline

Activity: 1260


View Profile
August 07, 2017, 01:37:29 AM
 #1

Bitfinex is a replica of MtGox

Zerohedge just posted a story in mainstream news about what I've been talking about for years now:

http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-price

I first wrote about how it appeared Bitfinex had someone with unlimited amounts of money that traded exactly the opposite way of anyone who would be trying to make a profit during the halving/brexit period.  My hypothesis was that Bitfinex owners were trading on their own exchange and got caught on the wrong side of the trade due to Brexit and rendered insolvent, so they then claimed they were "hacked" and lost all the bitcoins.

There's a link to my post and picture/commentary from over a year ago:



http://steemit.com/news/@r0achtheunsavory/bitfinex-is-lying-about-the-hack-and-i-can-tell-you-exactly-what-likely-happened

And another one of my posts from over a year ago right after they came back online:







https://steemit.com/money/@r0achtheunsavory/the-r0ach-report-vol-3-bitfinex-scamming-intensifies-and-more-on-the-silver-and-gold-markets


......ATLANT......
..Real Estate Blockchain Platform..
                    ▄▄▄▄▄▄▄▄▄
                    ████████████░
                  ▄██████████████░
                 ▒███████▄████████░
                ▒█████████░████████░
                ▀███████▀█████████
                  ██████████████
           ███████▐██▀████▐██▄████████░
          ▄████▄█████████▒████▌█████████░
         ███████▄█████████▀██████████████░
        █████████▌█████████▐█████▄████████░
        ▀█████████████████▐███████████████
          █████▀████████ ░███████████████
    ██████▐██████████▄████████████████████████░
  ▄████▄████████▐███████████████░▄▄▄▄░████████░
 ▄██████▄█████████▐█████▄█████████▀████▄█████████░
███████████████████▐█████▄█████████▐██████████████░
▀████████▀█████████▒██████████████▐█████▀█████████
  ████████████████ █████▀█████████████████████████
   ▀██▀██████████ ▐█████████████  ▀██▀██████████
    ▀▀█████████    ▀▀█████████    ▀▀██████████

..INVEST  ●  RENT  ●  TRADE..
 ✓Assurance     ✓Price Discovery     ✓Liquidity     ✓Low Fees





███
███
███
███
███
███





███
███
███
███
███
███
███
███
███
███
███
███

◣Whitepaper ◣ANN ThreadTelegram
◣ Facebook     ◣ Reddit          ◣ Slack


███
███
███
███
███
███
███
███
███
███
███
███





███
███
███
███
███
███








Hero/Legendary members
1513074579
Hero Member
*
Offline Offline

Posts: 1513074579

View Profile Personal Message (Offline)

Ignore
1513074579
Reply with quote  #2

1513074579
Report to moderator
1513074579
Hero Member
*
Offline Offline

Posts: 1513074579

View Profile Personal Message (Offline)

Ignore
1513074579
Reply with quote  #2

1513074579
Report to moderator
1513074579
Hero Member
*
Offline Offline

Posts: 1513074579

View Profile Personal Message (Offline)

Ignore
1513074579
Reply with quote  #2

1513074579
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513074579
Hero Member
*
Offline Offline

Posts: 1513074579

View Profile Personal Message (Offline)

Ignore
1513074579
Reply with quote  #2

1513074579
Report to moderator
1513074579
Hero Member
*
Offline Offline

Posts: 1513074579

View Profile Personal Message (Offline)

Ignore
1513074579
Reply with quote  #2

1513074579
Report to moderator
Torque
Legendary
*
Offline Offline

Activity: 1288



View Profile
August 07, 2017, 02:21:12 AM
 #2

I don't think anyone disagrees that Bitfinex has always been shady. And there's been plenty of red flags that point to insolvency and the notion that the hack was very suspect.

But this needs to be said, so I hope that they are reading this.

BITFINEX, IF YOU HAVE BEEN NAKED SHORTING ON YOUR OWN EXCHANGE, ARE INDEED INSOLVENT, AND IT HAS BEEN DISCOVERED THAT YOU HACKED YOUR OWN EXCHANGE IN AN EFFORT TO DEVISE A COVER STORY FOR YOUR LOSSES...

...THE FEDS ALREADY KNOW ABOUT IT, AND YOU HAVE A GIGANTIC BULLS-EYE ON YOUR BACK RIGHT NOW. EXPECT MT. GOX STYLE CONSEQUENCES SOONISHTM.
Wind_FURY
Hero Member
*****
Offline Offline

Activity: 574


★Jetwin.com★


View Profile
August 07, 2017, 03:53:38 AM
 #3

Does Bitfinex have the same kind of influence as MtGox did in the past though? Mtgox had the majority of trading volume during its peak while Bitfinex today does not have anything close to what MtGox had. But I agree, Bitfinex also has done other questionable things in the past, like socializing losses from the latest hack and giving their users 15% less of their BitcoinCash.


▄▄▄████████▄▄▄
▄▄███▀▀▀ ▄  ▄ ▀▀▀███▄▄
▄██▀▀ ▄▄████  ████▄▄ ▀▀██▄
▄██▀ ▄███████    ███████▄ ▀██▄
██▀ ▄████████▀    ▀████████▄ ▀██
██▀ ██████████      ██████████ ▀██
██▀ ██████████        ██████████ ▀██
▄██                                ██▄
██ ▄                              ▄ ██
██ ███▄                        ▄███ ██
██ ██████▄                  ▄██████ ██
██ ▀████████              ████████▀ ██
▀██ ███████                ███████ ██▀
██▄ █████▀                ▀█████ ▄██
██▄ ████        ▄▄        ████ ▄██
██▄ ▀█      ▄▄████▄▄      █▀ ▄██
██▄    ▄▄██████████▄▄    ▄██▀
▀██▄▄ ▀▀██████████▀▀ ▄▄██▀
▀▀███▄▄▄ ▀▀▀▀ ▄▄▄███▀▀
▀▀▀████████▀▀▀
 

    [    ]
r0ach
Legendary
*
Offline Offline

Activity: 1260


View Profile
August 07, 2017, 04:16:17 AM
 #4

Does Bitfinex have the same kind of influence as MtGox did in the past though? Mtgox had the majority of trading volume during its peak while Bitfinex today does not have anything close to what MtGox had.

The volume isn't what matters.  What matters is that usually when the price goes up or down, it's almost always from Bitfinex moving the market and other exchanges following.  This is how things have been all the way from $200 to now usually.  The few times when it's not is when there's a large amount of shorts on Okcoin and then someone (possibly the exact same entity) goes onto Okcoin to manipulate that market and squeeze them. There isn't a real market for bitcoin.  It's just whatever this scammer entity on Bitfinex manipulates it to.  He usually tries to manipulate upwards (just like Gox), but has attempted downwards before as well such as during Brexit.

......ATLANT......
..Real Estate Blockchain Platform..
                    ▄▄▄▄▄▄▄▄▄
                    ████████████░
                  ▄██████████████░
                 ▒███████▄████████░
                ▒█████████░████████░
                ▀███████▀█████████
                  ██████████████
           ███████▐██▀████▐██▄████████░
          ▄████▄█████████▒████▌█████████░
         ███████▄█████████▀██████████████░
        █████████▌█████████▐█████▄████████░
        ▀█████████████████▐███████████████
          █████▀████████ ░███████████████
    ██████▐██████████▄████████████████████████░
  ▄████▄████████▐███████████████░▄▄▄▄░████████░
 ▄██████▄█████████▐█████▄█████████▀████▄█████████░
███████████████████▐█████▄█████████▐██████████████░
▀████████▀█████████▒██████████████▐█████▀█████████
  ████████████████ █████▀█████████████████████████
   ▀██▀██████████ ▐█████████████  ▀██▀██████████
    ▀▀█████████    ▀▀█████████    ▀▀██████████

..INVEST  ●  RENT  ●  TRADE..
 ✓Assurance     ✓Price Discovery     ✓Liquidity     ✓Low Fees





███
███
███
███
███
███





███
███
███
███
███
███
███
███
███
███
███
███

◣Whitepaper ◣ANN ThreadTelegram
◣ Facebook     ◣ Reddit          ◣ Slack


███
███
███
███
███
███
███
███
███
███
███
███





███
███
███
███
███
███








Hero/Legendary members
Serpens66
Legendary
*
Offline Offline

Activity: 1680



View Profile
August 07, 2017, 04:33:22 AM
 #5

Might be that bitfinex is evil, I don't know.
But it can't control the bitcoin market, bitfinex has by far not enough volume for that.

I think the simplest explanation is the time directly after they announced that they do not have banking partners anymore.
Because of that Bitfinex price was very different to all other markets and also price of Tether was not 1$ anymore. No exchange followed bitfinex movement anymore.

The Spoofy report claims, that there is no one who can deposit/withdraw USD, at least no one who could compite with spoofy. But this is wrong. If there still would be no deposit/withdrawal of USD, bitfinex would still have a very different price compared to bitstamp and other exchanges. But the prices are as usual (like they were before the "no banks" thing). So there is at least one big guy or many that is able to deposit/withdraw money.

Yes there might be some fishy things going on on bitfinex, I don't have prooves against it. But I'm very sure that this is not influencing the global bitcoin price much.
And I'm also quite sure, that this "Spoofy" is just a regular whale that is making big money by unregulated bitcoin market. A whale with knowledge about normally forbidden trading practices would be stupid to not use them in unregulated bitcoin market and get even more rich.

Mit Cointracking behältst du die Übersicht über all deine Trades und Gewinne. Sogar ein Tool für die Steuer ist dabei Wink
Testen ist kostenlos und mit dem obigen Link bekommst du 10% Rabatt auf die kostenpflichtigen Pakete. Thread                                        Great Freeware Game: Clonk Rage
Für instant Handel auch am Wochenende bei bitcoin.de sollte man das Fidorkonto verwenden Smiley FAQ Ref-Link: Registrieren
r0ach
Legendary
*
Offline Offline

Activity: 1260


View Profile
August 07, 2017, 04:56:59 AM
 #6

But it can't control the bitcoin market, bitfinex has by far not enough volume for that.

As I already explained, you don't need to control all the volume in the market.  All you have to do is initiate the move and other exchanges follow.

......ATLANT......
..Real Estate Blockchain Platform..
                    ▄▄▄▄▄▄▄▄▄
                    ████████████░
                  ▄██████████████░
                 ▒███████▄████████░
                ▒█████████░████████░
                ▀███████▀█████████
                  ██████████████
           ███████▐██▀████▐██▄████████░
          ▄████▄█████████▒████▌█████████░
         ███████▄█████████▀██████████████░
        █████████▌█████████▐█████▄████████░
        ▀█████████████████▐███████████████
          █████▀████████ ░███████████████
    ██████▐██████████▄████████████████████████░
  ▄████▄████████▐███████████████░▄▄▄▄░████████░
 ▄██████▄█████████▐█████▄█████████▀████▄█████████░
███████████████████▐█████▄█████████▐██████████████░
▀████████▀█████████▒██████████████▐█████▀█████████
  ████████████████ █████▀█████████████████████████
   ▀██▀██████████ ▐█████████████  ▀██▀██████████
    ▀▀█████████    ▀▀█████████    ▀▀██████████

..INVEST  ●  RENT  ●  TRADE..
 ✓Assurance     ✓Price Discovery     ✓Liquidity     ✓Low Fees





███
███
███
███
███
███





███
███
███
███
███
███
███
███
███
███
███
███

◣Whitepaper ◣ANN ThreadTelegram
◣ Facebook     ◣ Reddit          ◣ Slack


███
███
███
███
███
███
███
███
███
███
███
███





███
███
███
███
███
███








Hero/Legendary members
Gillette
Hero Member
*****
Offline Offline

Activity: 744


http://blocknet.co


View Profile
August 07, 2017, 08:36:43 AM
 #7

But it can't control the bitcoin market, bitfinex has by far not enough volume for that.

As I already explained, you don't need to control all the volume in the market.  All you have to do is initiate the move and other exchanges follow.

Hey r0ach, if it`s so easy to make $ by initiating movements, why you don`t you pump altcoins?   Grin
krizniq
Full Member
***
Offline Offline

Activity: 182


View Profile
August 07, 2017, 08:43:45 AM
 #8

ok so clearly if bitfinex is evil, what exchange we should use for other than btc trades?
I mean, stamp offers only limited currencies, poloniex is no go, kraken looks shady-ish as well... so which one?

Looking for investment tip? XBY OMG and ADX, thank me later Wink

If you love me -> BTC: 1JLwEteSwyV3uUXN9dVvSqBnt3nbTHeS6i | ETH 0xb3F6aCa84d2513A444FABcd4dbFb256a82FdE610 Thanks! Cheesy
BobLawblaw
Hero Member
*****
Offline Offline

Activity: 756


Gayest Black Cowboy on BitcoinTalk / Power-Top


View Profile
August 07, 2017, 08:49:52 AM
 #9

Great detective work, brother.

Let us hope Bitfinex soon goes the way of the dodo bird.
krizniq
Full Member
***
Offline Offline

Activity: 182


View Profile
August 07, 2017, 09:05:44 AM
 #10

I'm messing with alts since 2013, but thanks for advise not to profit ... Wink

nope, but again thanks

Looking for investment tip? XBY OMG and ADX, thank me later Wink

If you love me -> BTC: 1JLwEteSwyV3uUXN9dVvSqBnt3nbTHeS6i | ETH 0xb3F6aCa84d2513A444FABcd4dbFb256a82FdE610 Thanks! Cheesy
Gillette
Hero Member
*****
Offline Offline

Activity: 744


http://blocknet.co


View Profile
August 07, 2017, 09:12:49 AM
 #11

ok so clearly if bitfinex is evil, what exchange we should use for other than btc trades?
I mean, stamp offers only limited currencies, poloniex is no go, kraken looks shady-ish as well... so which one?

Best advice ever  --->  Don't mess with altcoins and keep your bitcoins in your own wallet.

Wait till November-December and use BLOCKNET decentralized exchange. It will be finished by the end of this year. You make trade including margin trading so that your coins never go to third parties. You keep all your private keys. The most secure way to trade!

alyssa85
Legendary
*
Offline Offline

Activity: 1036


View Profile
August 07, 2017, 11:49:18 AM
 #12

I wouldn't be at all surprised if this was true.

Brexit caught EVERYONE by surprise, not just bitcoin traders,, but the forex markets and stock markets worldwide. I even remember some really big hedge funds trying to panic sell commercial property (which is not the type of thing you can sell quickly) after the referendum. They mist feel like fools now, especially as a whole bunch of businesses have relocated to London to occupy said comercial property.

European Central Bank
Hero Member
*****
Offline Offline

Activity: 812



View Profile
August 07, 2017, 12:13:35 PM
 #13

Does Bitfinex have the same kind of influence as MtGox did in the past though? Mtgox had the majority of trading volume during its peak while Bitfinex today does not have anything close to what MtGox had. But I agree, Bitfinex also has done other questionable things in the past, like socializing losses from the latest hack and giving their users 15% less of their BitcoinCash.

everything has a bellwether. wars don't get started by millions of people, they're started by a small group and it grows from there as others follow. same goes for a rally. bitfinex was the usd leader for a long time so it's natural others would have been swept up in it.

bitfinex is the biggest threat to the health of the crypto markets. if it isn't their bullshit with their exchange, it's usdt too and that could be way more catastrophic.

       ▀
   ▄▄▄   ▄▀
   ███ ▄▄▄▄  ██
       ████
    ▄  ▀▀▀▀
▄▄
      ██    ▀▀
██▄█▄▄▄████████
▄▄▄▄▄▄▄▄▀▀███▀▀▀
██████████████████
████▄▀▄▀▄▀███▀▀▀▀▀
████▄▀▄▀▄▀███ ▀
████▄▀▄▀▄▀████████
▀█████████████████
]
,CoinPayments,
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
█████
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████ ██
█████
krizniq
Full Member
***
Offline Offline

Activity: 182


View Profile
August 07, 2017, 12:16:26 PM
 #14

ok so clearly if bitfinex is evil, what exchange we should use for other than btc trades?
I mean, stamp offers only limited currencies, poloniex is no go, kraken looks shady-ish as well... so which one?

Best advice ever  --->  Don't mess with altcoins and keep your bitcoins in your own wallet.

Wait till November-December and use BLOCKNET decentralized exchange. It will be finished by the end of this year. You make trade including margin trading so that your coins never go to third parties. You keep all your private keys. The most secure way to trade!



looking forward to it, looks promising, waiting for something like that for years Wink !

Looking for investment tip? XBY OMG and ADX, thank me later Wink

If you love me -> BTC: 1JLwEteSwyV3uUXN9dVvSqBnt3nbTHeS6i | ETH 0xb3F6aCa84d2513A444FABcd4dbFb256a82FdE610 Thanks! Cheesy
alyssa85
Legendary
*
Offline Offline

Activity: 1036


View Profile
August 07, 2017, 01:45:01 PM
 #15

ok so clearly if bitfinex is evil, what exchange we should use for other than btc trades?
I mean, stamp offers only limited currencies, poloniex is no go, kraken looks shady-ish as well... so which one?

Gemini (the winklevoss exchange) does ether trading.

And GDAX (coinbase's exchange) does ether and litecoin and you can trade eth and ltc against various fiat currencies as well.

manselr
Hero Member
*****
Offline Offline

Activity: 840

ICO appreciator


View Profile
August 07, 2017, 03:24:16 PM
 #16

This is nothing but conspiracy theory thus far. What is clear is, Bitcoin was the thing to hold and still is, and gold should have been dumped a long time ago. Look at the graphs and see for yourself.

Sorry r0ach, but you did a big mistake dumping all of your coins a long time ago and betting for gold, time to admit that.
Wind_FURY
Hero Member
*****
Offline Offline

Activity: 574


★Jetwin.com★


View Profile
August 08, 2017, 02:27:53 AM
 #17

Does Bitfinex have the same kind of influence as MtGox did in the past though? Mtgox had the majority of trading volume during its peak while Bitfinex today does not have anything close to what MtGox had.

The volume isn't what matters.  What matters is that usually when the price goes up or down, it's almost always from Bitfinex moving the market and other exchanges following.  This is how things have been all the way from $200 to now usually.  The few times when it's not is when there's a large amount of shorts on Okcoin and then someone (possibly the exact same entity) goes onto Okcoin to manipulate that market and squeeze them. There isn't a real market for bitcoin.  It's just whatever this scammer entity on Bitfinex manipulates it to.  He usually tries to manipulate upwards (just like Gox), but has attempted downwards before as well such as during Brexit.

What are you talking about? Of course is matters. It is not very easy to control an entire market unless the "entity" has cornered or at least have the majority of volume of the entire Bitcoin market.

I will believe that story if someone proved every big exchange is in on the manipulation of the whole market.


▄▄▄████████▄▄▄
▄▄███▀▀▀ ▄  ▄ ▀▀▀███▄▄
▄██▀▀ ▄▄████  ████▄▄ ▀▀██▄
▄██▀ ▄███████    ███████▄ ▀██▄
██▀ ▄████████▀    ▀████████▄ ▀██
██▀ ██████████      ██████████ ▀██
██▀ ██████████        ██████████ ▀██
▄██                                ██▄
██ ▄                              ▄ ██
██ ███▄                        ▄███ ██
██ ██████▄                  ▄██████ ██
██ ▀████████              ████████▀ ██
▀██ ███████                ███████ ██▀
██▄ █████▀                ▀█████ ▄██
██▄ ████        ▄▄        ████ ▄██
██▄ ▀█      ▄▄████▄▄      █▀ ▄██
██▄    ▄▄██████████▄▄    ▄██▀
▀██▄▄ ▀▀██████████▀▀ ▄▄██▀
▀▀███▄▄▄ ▀▀▀▀ ▄▄▄███▀▀
▀▀▀████████▀▀▀
 

    [    ]
fabiorem
Full Member
***
Online Online

Activity: 238


View Profile
August 08, 2017, 02:30:41 AM
 #18

>r0ach proven right
>thread started by r0ach himself

Let's eat silver for breakfast.


r0ach
Legendary
*
Offline Offline

Activity: 1260


View Profile
August 08, 2017, 02:35:00 AM
 #19

This is nothing but conspiracy theory thus far.

LOL nice try shill, calling easy to recognize Bitfinex fraud a "conspiracy theory".  This is no "theory", they made their fraud blatantly obvious for all to see.

......ATLANT......
..Real Estate Blockchain Platform..
                    ▄▄▄▄▄▄▄▄▄
                    ████████████░
                  ▄██████████████░
                 ▒███████▄████████░
                ▒█████████░████████░
                ▀███████▀█████████
                  ██████████████
           ███████▐██▀████▐██▄████████░
          ▄████▄█████████▒████▌█████████░
         ███████▄█████████▀██████████████░
        █████████▌█████████▐█████▄████████░
        ▀█████████████████▐███████████████
          █████▀████████ ░███████████████
    ██████▐██████████▄████████████████████████░
  ▄████▄████████▐███████████████░▄▄▄▄░████████░
 ▄██████▄█████████▐█████▄█████████▀████▄█████████░
███████████████████▐█████▄█████████▐██████████████░
▀████████▀█████████▒██████████████▐█████▀█████████
  ████████████████ █████▀█████████████████████████
   ▀██▀██████████ ▐█████████████  ▀██▀██████████
    ▀▀█████████    ▀▀█████████    ▀▀██████████

..INVEST  ●  RENT  ●  TRADE..
 ✓Assurance     ✓Price Discovery     ✓Liquidity     ✓Low Fees





███
███
███
███
███
███





███
███
███
███
███
███
███
███
███
███
███
███

◣Whitepaper ◣ANN ThreadTelegram
◣ Facebook     ◣ Reddit          ◣ Slack


███
███
███
███
███
███
███
███
███
███
███
███





███
███
███
███
███
███








Hero/Legendary members
Ahab_Hunter_of_BearWhale
Member
**
Offline Offline

Activity: 118


View Profile
August 08, 2017, 08:49:44 AM
 #20

I read that story with interest. It's one case of blatant market manipulation by bad actors. The funds their working with are high, but still a smallish portion of the current outstanding supply. If groups or individuals were to seek to manipulate the market for their own "gain" they would likely be up against others doing the same

Looking at the gold market for example one can see China and other countries, as well as many financial crooks ahem, I mean banks and institutions accumulating alot of physical gold on the quite. People with lots of funds likely wouldn't start buying btc in mass at once, as it would push the price up too fast. A clever manipulator might instead push prices around, and buy up a large quantity of btc over quite an extended amount of time - they would likely have to have a bit of time to pull off any attempt at accumulating a large portion of the supply before prices rose significantly due to less supply on the market - or even if the mkt manipulator acumulated a bunch, and used a portion of that supply to continue accumulating, - the more they kept on the table and not stashed - the greater the risk of another mkt manipulator buying up their supply in one go and hodling.
Whales generally don't go against other whales in this manner, but not always so.

Such greed and desire for direct ownership over a large portion of btc's supply is limited by other actors, groups and the like with similar goals.
Then there's groups like the IMF that simply add any potential "Threats" to their - one currency to rule them all style bogus special drawing rights. More specifically SDR's act like a sort of index, tracking currencies almost like one could create a stock index. The IMF is unfortunately already in talks and meetings to try and add BTC and the like. But it might be interesting in future years to see how the IMF tries dealing with the vast vast proliferation of currencies that will become easier and easier to create >:]
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!