hvezdasmrti (OP)
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May 14, 2019, 09:16:27 PM |
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It seems that this ridiculous bitcoin pump is just an inside job of exchanges, they pump bitcoin price by spending their own crooked USD-T not covered by USD 1:1, the price goes up, and as it doubles, they just cash out the profit and coverup the deficit of real USDs by cashing out the 8000 vs 3500USD difference. The 4k to 8k pump has fundamentally very very low reasons to happen so suddenly except any conspiracy...
Thoughts? Many previous sudden BTC pumps were proven as a fraud before - remember Mt. Goxs pump to 1000+USD in 2013, Sergei Mavrodis sudden Ponzi-scheme pump from 300 to 600USD 2 years later etc.
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In Pump and Dump we trust.
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xvids
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May 14, 2019, 10:57:42 PM |
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Of course we would feel like the pumps are being created by the huge players so they could benefit from it, But it would be really hard to prove all of this? I mean even if they are the ones who are behind it they are risking their own money on it what if they pump it and the people or investor decides to take profit? They just lose their money for nothing so for me this is all just a theory.
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dothebeats
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May 14, 2019, 11:03:16 PM |
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Justin Sun's statement of buying over $40M worth of coins using USDT somehow supports your theory but I don't think we can already assume that exchanges have conspired in order to make this pump happen. If they do then they are subject for market manipulation which already is in place in some areas particularly the US, and so US-based exchanges would have been nabbed by now if this is to be proven. But yeah, I don't think the sudden influx of money in the cryptospace is done by real USD but rather mostly USDT. The only ones who will lose in the end though are exchanges left holding the token if people are intelligent enough to actually withdraw funds immediately after profiting.
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samcrypto
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May 14, 2019, 11:09:43 PM |
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It seems that this ridiculous bitcoin pump is just an inside job of exchanges, they pump bitcoin price by spending their own crooked USD-T not covered by USD 1:1, the price goes up, and as it doubles, they just cash out the profit and coverup the deficit of real USDs by cashing out the 8000 vs 3500USD difference. The 4k to 8k pump has fundamentally very very low reasons to happen so suddenly except any conspiracy...
Thoughts? Many previous sudden BTC pumps were proven as a fraud before - remember Mt. Goxs pump to 1000+USD in 2013, Sergei Mavrodis sudden Ponzi-scheme pump from 300 to 600USD 2 years later etc.
We have a lot of exchange and they move the same, so you’re saying that there’s a group of exchanges who agrees to pump bitcoin without having its real volume? This kind of analysis started years ago, and its not proven so i believe bitcoin really deserve its current price and it will pump more.
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Astvile
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May 14, 2019, 11:35:54 PM |
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Yeah there are alot of proven fraud pumps before but this one is very recent so people cant still prove if this was the whales doing this for their own sake.I dont think they would do this because thsi will be a huge gamble they are literary putting their exchange to a dice where then can lose bigtime or win
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richminded
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May 14, 2019, 11:46:13 PM |
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Yeah there are alot of proven fraud pumps before but this one is very recent so people cant still prove if this was the whales doing this for their own sake.I dont think they would do this because thsi will be a huge gamble they are literary putting their exchange to a dice where then can lose bigtime or win
Some member of the exchanges before are being caught manipulating the market especially in South Korea cryptoexchange, but the recent pump now is different because we are not just talking about one exchange here we are talking about the whole market which is doing better. Yes, its a big gamble to the exchanges they can’t just take profit on that.
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Ailmand
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May 15, 2019, 12:07:14 AM |
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Whenever there's a huge growth in bitcoin price we always speculate that it's formulated or conducted by whales, and now exchanges buying bitcoin. People has no contentment, during the bull-market everyone was yearning for bitcoin price to recover. And now that the market is growing, speculation, conspiracy theories are coming out.
Don't forget that there had been lots of good news that had came out recently that could've played a great role on the market recovery, the adaptation from companies and other financial institutions, crypto related events and developments, etc. Of course, whales always have a role in every pump. Let's just be contented and happy that the market is green again.
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turkandjaydee
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May 15, 2019, 01:29:52 AM |
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I mean even if they are the ones who are behind it they are risking their own money on it what if they pump it and the people or investor decides to take profit? They just lose their money for nothing so for me this is all just a theory.
If its really true , they also have their own risk to do this kind if thing just like what you said. And also on another perspectif, what if they also do that because they already knew that something big is coming to this market. But the important thing is we as a normal investor/trader know how to react properly or just dont react if we cant verify anything that happened.
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Yakamoto
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May 15, 2019, 01:50:52 AM |
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It seems that this ridiculous bitcoin pump is just an inside job of exchanges, they pump bitcoin price by spending their own crooked USD-T not covered by USD 1:1, the price goes up, and as it doubles, they just cash out the profit and coverup the deficit of real USDs by cashing out the 8000 vs 3500USD difference. The 4k to 8k pump has fundamentally very very low reasons to happen so suddenly except any conspiracy...
Thoughts? Many previous sudden BTC pumps were proven as a fraud before - remember Mt. Goxs pump to 1000+USD in 2013, Sergei Mavrodis sudden Ponzi-scheme pump from 300 to 600USD 2 years later etc.
An inside job like this was how Bitcoin cracked $1,000. Or, it was kind of like an inside job but it was more like runaway bots that kept a positive feedback loop going. Mt Gox was the first example of this, and the massive manipulation was very obvious after the market got corrected, as Bitcoin had slumped to just over $100. How we wish that it was like that still, or at least have the chance to purchase entire BTC for just over $100, lol. I personally think that this is the same situation as what we've seen in the past; I don't have confidence that this will be any more than a pump n dump like we've seen every new ATH. It may be slowing down now, looking at the market, so it's possible that we're going to see a correction before everything gets out of hand. Slow and consistent growth is the key to have a strong and robust currency.
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minersday
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May 15, 2019, 02:32:05 AM |
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It seems that this ridiculous bitcoin pump is just an inside job of exchanges, they pump bitcoin price by spending their own crooked USD-T not covered by USD 1:1, the price goes up, and as it doubles, they just cash out the profit and coverup the deficit of real USDs by cashing out the 8000 vs 3500USD difference. The 4k to 8k pump has fundamentally very very low reasons to happen so suddenly except any conspiracy...
Thoughts? Many previous sudden BTC pumps were proven as a fraud before - remember Mt. Goxs pump to 1000+USD in 2013, Sergei Mavrodis sudden Ponzi-scheme pump from 300 to 600USD 2 years later etc.
In as much that we can tell the main cause or factors influencing the current pump in the market price of Bitcoin, I don't agree with you on the fact that this pump is an inside job done by the exchange platforms. You need to provide and present strong evidence to back this your claims and assumptions.
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DreamStage
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May 15, 2019, 02:49:11 AM |
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You do understand Bitcoin or any Cryptocurrency trade market is a Ponzi Scheme till it busts don't you? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Let's think of the following: You get your profits from other's people's investments. Since their investments increase Bitcoin Price and you get profit from your current bought price vs them. Which is basically a definition from wikipedia Ponzi Scheme
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Nothing to see here
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CryptoBry
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May 15, 2019, 03:12:47 AM |
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Whenever there's a huge growth in bitcoin price we always speculate that it's formulated or conducted by whales, and now exchanges buying bitcoin. People has no contentment, during the bull-market everyone was yearning for bitcoin price to recover. And now that the market is growing, speculation, conspiracy theories are coming out. Don't forget that there had been lots of good news that had came out recently that could've played a great role on the market recovery, the adaptation from companies and other financial institutions, crypto related events and developments, etc. Of course, whales always have a role in every pump. Let's just be contented and happy that the market is green again.
Yes, let's all be happy that the Bitcoin market is now moving upward and for people who wanted to encash their holdings then this can be one of the best time to do so not unless of course if one is afraid to do it because of the hope that Bitcoin can continue on rising even beyond $10,000 this time around. Now, there will always be speculations, theories, opinions and ideas whenever Bitcoin will go up and if they can't find anything reasonable they will always blame what happened to the usual market manipulators. As for me, I am not a close-minded guy so let's see what can we decipher after the smoke is gone.
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pooya87
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May 15, 2019, 03:16:37 AM |
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you are simply ignoring the millions of actual dollars that are going in bitcoin through all the bitcoin exchanges and causing the rise for real and only focus on a small percentage of the total volume (about 5%) that is from USDT and is coming from Bitfinex. that doesn't sound like a logical case to me!
and remember that just because YOU didn't expect this rise that doesn't mean it wasn't expected! there are dozens of reasons for this rise to be like this and it was perfectly expected and even long overdue.
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Haunebu
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May 15, 2019, 07:34:40 AM |
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you are simply ignoring the millions of actual dollars that are going in bitcoin through all the bitcoin exchanges and causing the rise for real and only focus on a small percentage of the total volume (about 5%) that is from USDT and is coming from Bitfinex. that doesn't sound like a logical case to me!
and remember that just because YOU didn't expect this rise that doesn't mean it wasn't expected! there are dozens of reasons for this rise to be like this and it was perfectly expected and even long overdue.
Well said. Op basically feels that this is just another pump and dump and is completely inorganic in nature, but he is ignoring the fact that there has been a plethora of news in recent times to support this ORGANIC growth. - Starbucks etc offering BTC as a payment option - Consensus 2019 - Fidelity allowing institutional investors to trade crypto - Bakkt providing an update at last etc etc etc
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jseverson
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May 15, 2019, 08:05:33 AM |
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The theory certainly has legs. I mean, this snafu with Tether should be bringing Bitcoin down, not up. Also, with people saying that Tether has been used to pump Bitcoin for ages, it would make sense for Bitfinex to want their stocked Bitcoin to be more valuable given their situation.
That being said though, this is way too easy of a conclusion to make. If this is truly what happened, I'm sure sleuths would be all over it with the paper trail and evidence -- lots of people want to see Tether burn after all. They would also be the first that investigators would go after thanks to their circumstances.
As for the sudden pump, I also lean towards believing that it's orchestrated and unsustainable, but you just never know. There were no major breakthroughs in 2017 either and it reached $5k from $1k.
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MonsterV
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May 15, 2019, 08:36:55 AM |
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Yeah there are alot of proven fraud pumps before but this one is very recent so people cant still prove if this was the whales doing this for their own sake.I dont think they would do this because thsi will be a huge gamble they are literary putting their exchange to a dice where then can lose bigtime or win
Some member of the exchanges before are being caught manipulating the market especially in South Korea cryptoexchange, but the recent pump now is different because we are not just talking about one exchange here we are talking about the whole market which is doing better. Yes, its a big gamble to the exchanges they can’t just take profit on that. Yes, actually the bitcoin pump is not just because the whales pump and risk their money. I think these whales are indeed pumping, but when there is good big news, like now. Bitcoin can be pumped twice in a month. Maybe these popes use the news https://medium.com/bakkt-blog/bitcoin-futures-custody-bakkts-differentiated-approach-59b88d6984b5 to make a big pump.
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Genemind
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May 15, 2019, 09:02:38 AM |
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No one could ever prove it. We could blame anyone about the current market situation but we should also keep in mind that there are good things that are circulating around the market. As for me, different adoptions and Bitcoin acceptance are the reasons why the prices are getting better. I guess it's all about the positive things that are happening causes the price increase of Bitcoin.
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traderethereum
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May 15, 2019, 10:17:16 PM |
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Everything could happen in the cryptocurrency, we know that. And if we talk about the exchanges, I am sure there are many big whales who could do that pumps and also the exchanges can do that job with ease. But I never think that it's their jobs because I only the price increase to some level and it helps people to end their desperate in a long time. It could job from the inside of the exchange, it could the whales, it could everybody who is in the cryptocurrency but we never know who they are.
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bhabygrim
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May 15, 2019, 10:33:39 PM |
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It seems that this ridiculous bitcoin pump is just an inside job of exchanges, they pump bitcoin price by spending their own crooked USD-T not covered by USD 1:1, the price goes up, and as it doubles, they just cash out the profit and coverup the deficit of real USDs by cashing out the 8000 vs 3500USD difference. The 4k to 8k pump has fundamentally very very low reasons to happen so suddenly except any conspiracy...
Thoughts? Many previous sudden BTC pumps were proven as a fraud before - remember Mt. Goxs pump to 1000+USD in 2013, Sergei Mavrodis sudden Ponzi-scheme pump from 300 to 600USD 2 years later etc.
We have a lot of exchange and they move the same, so you’re saying that there’s a group of exchanges who agrees to pump bitcoin without having its real volume? This kind of analysis started years ago, and its not proven so i believe bitcoin really deserve its current price and it will pump more. I agree this is just a rumor and it is true how can all the exchange agree to do that? It all depends on the investors exchanges doesn't dictate the price they just shows it. We are the one who is dictating the price we us an investor are responsible for the price movement because we are the one who is making the demands for the price.
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Hypnosis00
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May 15, 2019, 10:36:02 PM |
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I feel no hypes happen these days which influencing the market price goes high. It really doesn't have any inside job happen in crypto, we saw huge pump nowadays because old investors are being back in crypto, they are putting their money again back to crypto that is why we have this price increase and not because we have that market sabotage.
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