Lucky7btc (OP)
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June 13, 2018, 12:02:46 PM |
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The price of bitcoin is crashing because the price is being manipulated just like they manipulate gold prices.
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
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mammon
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June 13, 2018, 12:26:09 PM |
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I fully agree, but I think lots of people are not willing to see the manipulation because they are blinded by there Dogma. The mass only seems to say; "it is a normal correction" (No, it is not!) Some big boys are pushing out the smaller ones and make sure they cannot come back
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melted349
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June 13, 2018, 12:27:24 PM |
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The price of bitcoin is crashing because the price is being manipulated just like they manipulate gold prices.
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
It's very risky if you let your Bitcoin in exchanges. Honestly I didn't ever leave my bitcoin on some exchanges because I know it's too risky, I've been put on it in my secured wallet. It's a good information for many beginners that didn't know on how it's risky.
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Retty
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June 13, 2018, 12:38:59 PM |
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You know what? This has been my fear for a long long time.
The EXACT same thing has crossed my mind many times. When the price of BTC goes sky high again- and it will, some of these exchanges are going to vanish. The same way some of these ICO's are vanishing with peoples hard earned cash.
No matter how big the exchange or how small, if they don't have the 'actual' bitcoin there with them- at all times- they are literally selling you dreams, and we are trading with thin air. I sincerely hope it dosent happen but i really wouldn't be surprised if it did.
One thing for certain though, it would be catastrophic for crypto in the long run. As investors confidence would be completely eroded.
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Promickey
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June 13, 2018, 12:41:49 PM |
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The confidence of investors is being eroded, the feeling of fear is overwhelming
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susila_bai
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June 13, 2018, 12:54:59 PM |
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The price of bitcoin is crashing because the price is being manipulated just like they manipulate gold prices.
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
Not only this is the reason for not leaving bitcoins in exchanges, even the exchange are always risky as you are not in control of the wallet where you are storing the bitcoins. So it is always advisable that if you are not trading then better to shift them to your own wallet and when ever you feel you can transfer and trade. About the current way of bitcoin getting traded in equity or forex exchanges , that is also the main reason behind this crash and i agree that their is a big community who are manipulating the bitcoin and its price fluctuation. Like what you told of they are putting sell order in forex exchange where they dont have to hold any physical bitcoin but it is only a contract and other hand this is driving the price go down and collecting the physical bitcoin in low.
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jseverson
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June 13, 2018, 01:06:16 PM |
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I'm not saying this isn't possible, but do you have any proof that this manipulation is happening and that it's the cause of the crash? I don't mean this as a slight, I'm just genuinely curious. My personal opinion is that we're simply in a bear market after the huge December rush, so price drops like this (which isn't even very significant) should be expected here and there.
Either way though, it's a bad idea to keep Bitcoins in exchanges for other reasons, so I agree with that part completely.
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Mpamaegbu
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June 13, 2018, 01:50:30 PM |
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I'm not saying this isn't possible, but do you have any proof that this manipulation is happening...
This is exactly my thought too because I see this as a sweeping allegation. Unless the OP can provide us with evidence or name the exchanges involved in such. Otherwise, it remains the figment of the OP's imagination and a loose attack on exchanges. On the other issue, I quite agree that many people believe it's a bad idea leaving coins in exchanges but there is little we can do about that. People won't obey this call. Those who trade won't see any sense in it. You need Bitcoin perpetually on exchanges to make trade calls.
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rodalutor
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June 13, 2018, 01:54:15 PM |
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This seems entirely possible but doesn't seem very likely, especially not for the largest most reputable exchanges. There's no need for them to do such things because they're making masses of money each and every day anyway. In fact for exchanges a bull market is much better than a bear market because there is higher volume and they can make more in fees.
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Lucky7btc (OP)
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June 13, 2018, 07:45:56 PM |
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This seems entirely possible but doesn't seem very likely, especially not for the largest most reputable exchanges. There's no need for them to do such things because they're making masses of money each and every day anyway. In fact for exchanges a bull market is much better than a bear market because there is higher volume and they can make more in fees.
Bitcoin is clearly being manipulated
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LeGaulois
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June 13, 2018, 07:53:26 PM |
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Excuse me for being a little septic but have you a concrete example to show. Warren Buffet with Bitcoin ? BTW, the majority of people doesn't hold the coins on an exchange platform, yes there are a lot of people doing it but it is not the majority. They usually transfer out to another wallet (or web wallet)
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gentlemand
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Welt Am Draht
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June 13, 2018, 07:56:40 PM |
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Who is They?
They have always been with us. In olden times it was early Bitcoin adopters. There used to be sell walls on Gox that looked like space elevators.
These days it's going to be all sorts. It's a fact of life. Make your peace with it or clear off.
And no one should be parking coins on exchanges regardless of the evil men do.
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sammyp
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June 13, 2018, 08:05:06 PM |
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I hardly keep even my altcoins in exchanges. The fact that exchanges can get hacked is always haunting me so I decided to get myself a hardware wallet and I’m now ok. I can be offline for a month or more without bothering about loosing my coins. It’s high time we used the exchanges for what they are meant for rather than storing our hard earned virtual assets there.
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rodalutor
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June 14, 2018, 07:43:24 AM |
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This seems entirely possible but doesn't seem very likely, especially not for the largest most reputable exchanges. There's no need for them to do such things because they're making masses of money each and every day anyway. In fact for exchanges a bull market is much better than a bear market because there is higher volume and they can make more in fees.
Bitcoin is clearly being manipulated I don't disagree in the slightest, just I don't think it is being manipulated in the way that the OP described. I don't believe that exchanges are behind the price failing as it is not in their interests, perhaps they could have been involved in the moonshot that was bitcoin reaching $20k.
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Leo Barnes
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June 14, 2018, 08:21:38 AM |
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I agree that exchange is being manipulated by the big player so if every one of us is holding bitcoin in our own wallet chances of the bitcoin price will spike.
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talkbitcoin
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All I know is that I know nothing.
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June 14, 2018, 08:57:59 AM |
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The price of bitcoin is crashing because the price is being manipulated
Take your bitcoin out of the exchange.
it is one thing to tell people not to store their bitcoin on exchanges because of the risks but it is another thing to tell them to withdraw because price is crashing and being manipulated!!! of course you need to always keep your bitcoins with you in a secure cold storage but when price is falling and IF you are a trader then you need to sell your bitcoin and start buying back at the bottoms when the manipulation ends. for example 3 or 4 days ago when the dumping began you should have sold the coins you had on exchanges and then started buying back now to have more bitcoins. in the end as a trader you always leave something on exchanges unless you don't want to trade for a couple of days anymore.
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bitfocus
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June 14, 2018, 08:58:19 AM |
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That's a very good idea.
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aces777
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June 14, 2018, 09:11:40 AM |
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I don't think the exchanges might be doing this as what happens if the exchanges run out of coins if more people withdraw their Bitcoins? They aren't going to buy the Bitcoins at market rate as the price isn't going to always be lower than their purchased price. Why you should ask everyone to withdraw their coins from exchanges is to secure their coins from the hands of exchanges, as the exchanges are constantly under hacking attempts.
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eternalgloom
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June 14, 2018, 09:26:17 AM |
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Unless you have solid proof to back up these claims, there's nothing more than FUD. That shouldn't be the reason why not to keep your coins on exchanges, the reason should be because it isn't secure to do so.
Show me the cold storage addresses of those exchanges and prove that they do not have enough supply to account for all coins on the exchange. Otherwise these are just conspiracy theories.
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0t3p0t
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June 14, 2018, 09:40:11 AM |
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The price of bitcoin is crashing because the price is being manipulated just like they manipulate gold prices.
Gold is manipulated through paper gold derivatives. They sell paper not gold. Bitcoin exchanges are doing the same thing. They are selling bitcoin on exchanges when they don't even have that much supply.
The average consumer just buys bitcoin and leaves it on the exchange. When you buy bitcoin on an exhange you are not buying bitcoin. You are buying an IOU for bitcoin. The exchanges only need to hold as much bitcoin as people will withdraw.
The bitcoin futures market is doing the same thing. You can buy bitcoin from someone who doesnt own any. You can also short bitcoin without actually buying any.
While all this is happening we have the new whales, Dimon, Gates and Buffet publicly bashing while privately accumilating bitcoin. They use the MSM to highlight reasons to sell bitcoin while suppressing reasons to buy across social media. They use algos running across multiple exchanges to pump the price up as they sell you bitcoin IOU's then dump the price down as they buy the HODLERS bitcoin. They buy bitcoin while selling IOU's using an arbitrage method taking advantage of the difference in currency and bitcoin prices between countries.
Take your bitcoin out of the exchange. Store it on your own secure wallet. If we don't keep it in an exchange they can't manipulate the price and you also won't fall victim when the exchange is "hacked" (honest we were hacked we didn't steal your bitcoin).
Yeah that is the sad reality about manipulation and centralization. That is why I don't like to store my Bitcoin funds on local exchanges. We are not the owner of our funds if we store it on exchanges and they have the full control in all of it. Consequenses will be worst if exchanges were hacked or compromised. Big players can play and have huge profit if they manipulate Bitcoin prices as weak hands make massive dump.
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