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Author Topic: Analysis  (Read 919569 times)
bri912678
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October 31, 2015, 01:42:38 PM
 #3961

Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?

its been posted on here or reddit that those are fake numbers cuz no commission trading so people buy/sell to themselves to create fake volume/pump

There were reddit threads about fake Huobi and okcoin trades since 2014. I quoted one comment that compares them to mtgox. There was a reddit thread by an ex-okcoin employee who said they run their own bots to manipulate both volume and price. Those exchanges deny it but I don't believe them, they fake their volume.


https://www.reddit.com/r/BitcoinMarkets/comments/1ub0f0/convince_me_why_huobicom_stats_are_not_fake

https://www.reddit.com/r/BitcoinMarkets/comments/2alcze/imo_okcoin_and_huobi_are_not_100_legit/

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For me it is pretty obvious and easy to spot that at least in OKcoin and btc-e there are malicious bots doing tiny trades to manipulate the price, it either creates a fake pump or a fake dump, exactly like mtgox used to do.
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tarmi
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October 31, 2015, 01:42:45 PM
 #3962

it must be true if it is on the tape.  Roll Eyes
masterluc
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October 31, 2015, 01:48:34 PM
 #3963

I don't know what they are talking about, but I'm sure they funding MMM ponzi through btcchina

https://youtu.be/7GFA5R6qkso

BTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY.

https://youtu.be/hW3i2FKt3Wg

brg444
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Bitcoin replaces central, not commercial, banks


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October 31, 2015, 01:56:54 PM
 #3964

I don't know what they are talking about, but I'm sure they funding MMM ponzi through btcchina

https://youtu.be/7GFA5R6qkso

BTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY.

https://youtu.be/hW3i2FKt3Wg

Gotta pay for them christmas presents  Cheesy

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
wpalczynski
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October 31, 2015, 02:01:44 PM
 #3965

I don't know what they are talking about, but I'm sure they funding MMM ponzi through btcchina

https://youtu.be/7GFA5R6qkso

BTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY.

https://youtu.be/hW3i2FKt3Wg

not good.. withdrawals usually are "paused" when ponzi scam is finished

deeltje
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October 31, 2015, 02:16:06 PM
 #3966

I don't know what they are talking about, but I'm sure they funding MMM ponzi through btcchina

https://youtu.be/7GFA5R6qkso


One guy (probably from MMM) explaining to another guy (doesn't sound like he knows how to handle a computer, he hardly knows how to make a screenshot) how to transfer BTC's into MMM, the guy transfered almost all of his 10 BTC's to MMM (he had 10 he transfered 2x 4.6BTC) and at the end the MMM guy told him that he still owned MMM another 460,- usd worth of BTC to complete his entrance to MMM.

Not a very interesting video ... but great find nonetheless.
masterluc
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October 31, 2015, 02:18:39 PM
 #3967

Thanks. I just heard MMM gains big popularity in China and SAR. And they fund only bitcoin (converted to usd, balances are in usd).

wpalczynski
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October 31, 2015, 02:20:18 PM
 #3968

Thanks. I just heard MMM gains big popularity in China and SAR. And they fund only bitcoin.


Many people are speculating that this crazy rise in price we had last week was fueled by BTC purchases for the MMM ponzi scheme

brg444
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October 31, 2015, 02:35:44 PM
 #3969

Thanks. I just heard MMM gains big popularity in China and SAR. And they fund only bitcoin.


Many people are speculating that this crazy rise in price we had last week was fueled by BTC purchases for the MMM ponzi scheme

IMO the buying action is not representative of individual purchases, even from an organized scheme.

Seems evident numerous trading bots are involved which does not fit with the picture some are trying to paint regarding MMM.


"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
masterluc
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October 31, 2015, 02:37:30 PM
 #3970


IMO the buying action is not representative of individual purchases, even from an organized scheme.

I see you don't know who is Mavrodi. In 1990s he brought up ponzi scheme in russia with funding half of country budget.

brg444
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October 31, 2015, 02:43:22 PM
 #3971


IMO the buying action is not representative of individual purchases, even from an organized scheme.

I see you don't know who is Mavrodi. In 1990s he brought up ponzi scheme in russia with funding half of country budget.

I do know who the guy is.

What I'm saying is if we are to believe that individuals are participating in his ponzi by funding their "account" using Bitcoin purchased from BTC exchanges this, IMO, does not correspond to the action we are seeing on Huobi & OKCoin where seemingly numerous buying bots are involved.

Unless we are suggesting Mavrodi is purposedly gaming the Bitcoin market while running the ponzi in question it seems to me there is more to the story and the volume we are seeing in China.

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
jehst
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October 31, 2015, 03:00:36 PM
 #3972


IMO the buying action is not representative of individual purchases, even from an organized scheme.

I see you don't know who is Mavrodi. In 1990s he brought up ponzi scheme in russia with funding half of country budget.

I do know who the guy is.

What I'm saying is if we are to believe that individuals are participating in his ponzi by funding their "account" using Bitcoin purchased from BTC exchanges this, IMO, does not correspond to the action we are seeing on Huobi & OKCoin where seemingly numerous buying bots are involved.

Unless we are suggesting Mavrodi is purposedly gaming the Bitcoin market while running the ponzi in question it seems to me there is more to the story and the volume we are seeing in China.

The bots were there before this ponzi and will be there after the ponzi collapses. The bots are a separate issue. What people are theorizing is that it's the MMM people who are fueling the trend (up). The bots just follow the trend.

Year 2021
Bitcoin Supply: ~90% mined
Supply Inflation: <1.8%
ssmc2
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October 31, 2015, 03:01:49 PM
 #3973

Much conspiracy. Such theory.
Check-0
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October 31, 2015, 03:15:38 PM
 #3974


IMO the buying action is not representative of individual purchases, even from an organized scheme.

I see you don't know who is Mavrodi. In 1990s he brought up ponzi scheme in russia with funding half of country budget.
Masterluc sounds like he was never involved in MMM himself  Tongue

He иcкyшaй мeня, ибo нeoбyздaн я в жeлaнияx cвoиx...
Xoчeшь я взopвy вce звeзды и Зaвтpa нe нacтyпит никoгдa..?
masterluc
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October 31, 2015, 03:16:51 PM
 #3975

I was  Grin crazy stuff.

rebuilder
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October 31, 2015, 05:09:45 PM
 #3976

Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?

Given no fees, the only limits to trade volume are set by the rate an exchange can process orders at. How much volume do you think could be generated with just one BTC deposited at such an exchange? I'm guessing quite a lot.

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wpalczynski
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October 31, 2015, 05:12:27 PM
Last edit: October 31, 2015, 05:23:28 PM by wpalczynski
 #3977

Huobi and okcoin summary traded 6kk coins this week. This is almost half of all issued bitcoins. Can that be true?

Given no fees, the only limits to trade volume are set by the rate an exchange can process orders at. How much volume do you think could be generated with just one BTC deposited at such an exchange? I'm guessing quite a lot.

Isn't it more likely that people are trading for minuscule amounts of profit each trade due to no fees on Chinese exchanges as opposed to "fake" trading between themselves to generate volume as is often speculated?

ssmc2
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October 31, 2015, 06:16:52 PM
 #3978

The Master calls it, yet again.  Cool
Clonekiller
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October 31, 2015, 06:23:31 PM
 #3979

The dump
masterluc
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October 31, 2015, 06:35:27 PM
 #3980

Forgot to say, closed another 30% longs @331. Summary close at 321. Was Opened @240.

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