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Author Topic: Manipulating altcoin markets with 100 BTC?  (Read 807 times)
coiner8
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April 21, 2014, 03:14:22 PM
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Let's say, theoretically of course, someone had 100 BTC and wanted to make some more.  100 BTC is greater than the daily trading volumes of even some of the altcoins with the highest market caps:

Market CapVolume (24h)
Primecoin10,276 BTC98.67 BTC
Nxt47,642 BTC74.98 BTC
Vertcoin7,275 BTC72.08 BTC
BitShares-PTS14,462 BTC42.66 BTC
UltraCoin910 BTC11.18 BTC
Digitalcoin1,198 BTC7.62 BTC
MarineCoin8,637 BTC4.19 BTC

* Source: Coinmarketcap.com.  May be missing some exchanges but includes the major ones and most minor ones.

It seems like there's a huge opportunity to manipulate these markets: buy cheap and drive up prices, then sell.

How exactly would someone do that though?  Just buy up all available inventory in the morning, re-list it at slightly higher prices, keep bumping the prices up slowly through the rest of the day?  Would new sellers willing to sell for less ruin the whole plan?  Would people even buy at the higher prices?  These markets don't seem to be based on any actual value of the coins (such as 10x earnings like with stocks), so my guess is people will buy at whatever the current price is if they think the price will rise.

Or maybe buy half of the inventory in the morning, and then keep being the buyer willing to pay the highest price, gradually driving up the price throughout the rest of the day?  Then dump it all at night at the new, higher, price?  Would the sell pressure from the dump reverse the price rises made during the day?  Could you hold and sell gradually over the next few days, or would the price collapse as soon as you stopped buying?

What other scenarios could a whale use to profit from these markets?  Is there a term for markets like these that have no intrinsic value (e.g. no 10x earnings, no well-defined usefulness like gold or hog futures)?  I'm not saying all altcoins are useless and have no value (ok, I do think that applies to most of them), but there is no standard way of determining their value.  Surely there's been research done into how people act in markets like these, right?
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April 21, 2014, 04:51:47 PM
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Well, you can't know exactly what will happen, all your questions are scenarios that could happen. One scenario that I could think of that wouldn't be so risky is to buy small quantities at gradually higher prices over a longer period of time (like a few days to a week or more) - so the price won't skyrocket very quickly, and then dump your coins in the same fashion- when your see a big buy order at a high price that would make you a nice profit.

If you know someone who want's to, theoretically of course, do this, let me know what coin he would theoretically chose  Grin

Quick!!No time to explain!!Send all bitcoins to me
marine4u
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May 04, 2014, 06:54:15 PM
 #3

Finally some smart ones are beginning to understand the Marinecoin checkmate trading system, good on you.

Once executed correctly almost every trade is profitable, if you lose on a trade you make up for it on the next trade.


bl0ckchain
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May 04, 2014, 07:03:06 PM
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A few things you should also consider are Arbitrage bots trading between pairs and markets, autosell orders, and each coin's inflation rate.
Sharrow
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May 04, 2014, 07:18:07 PM
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Finally some smart ones are beginning to understand the Marinecoin checkmate trading system, good on you.

Once executed correctly almost every trade is profitable, if you lose on a trade you make up for it on the next trade.


I've been watching your posts and have resisted the temptation to get involved until now. You have breached a major barrier of trust when you openly talk about market manipulation and doing so says a lot about your motivations as a developer and the sneaky ways in which you operate.
cryptopaths
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May 04, 2014, 07:23:35 PM
 #6

Finally some smart ones are beginning to understand the Marinecoin checkmate trading system, good on you.

Once executed correctly almost every trade is profitable, if you lose on a trade you make up for it on the next trade.




You're legitametly one of the most retarted people in the crypto community. Why do you keep trying to push the shit marinecoin on people? And now your saying there is market manipulation built into your coin? Take your 97% premine and maybe get together with asiacoins %1000 premine.
marine4u
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May 04, 2014, 07:33:16 PM
 #7

Finally some smart ones are beginning to understand the Marinecoin checkmate trading system, good on you.

Once executed correctly almost every trade is profitable, if you lose on a trade you make up for it on the next trade.




You're legitametly one of the most retarted people in the crypto community. Why do you keep trying to push the shit marinecoin on people? And now your saying there is market manipulation built into your coin? Take your 97% premine and maybe get together with asiacoins %1000 premine.

Marinecoin is profitable like it or not, ask anyone who trades or mines they profit sooner or later if they trade, have you noticed anyone claim otherwise other than wild baseless accusations like yours.

Marinecoin pre-mine is announced from day 1, and its purpose, why do you compare it to asiacoin where the devs actually misinformed the public.

There is no market manipulation in Marinecoin it floats that way without manipulation, it is prone to it to make extra profits calculated, designed concept made deliberately so to allow exponential price rise with limited volume.

st4nl3y
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May 04, 2014, 10:06:01 PM
 #8

Let's say, theoretically of course, someone had 100 BTC and wanted to make some more.  100 BTC is greater than the daily trading volumes of even some of the altcoins with the highest market caps:



Who says it's theory. I've been doing this since Alts began trading in 2011.


~BCX~

nice1
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May 04, 2014, 10:11:36 PM
 #9

Let's say, theoretically of course, someone had 100 BTC and wanted to make some more.  100 BTC is greater than the daily trading volumes of even some of the altcoins with the highest market caps:



Who says it's theory. I've been doing this since Alts began trading in 2011.


~BCX~

Member of the month.

Raxe.io / Example wallet: http://wallet.raxe.io
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