do you think the price manipulated by exchanges ?

[p2pbucks]

 
Chinese exchanges all launches their own bitcoin futures exchanges(okcoin huobi chbtc) , the biggest bitcoin futures trading exchange 796 is also runned by Chinese .

Now have a look at 796's volume : 277288 BTC . Many Chinese players think these exchanges are manipulating the price .

What's your opinion ?  Do you think the price manipulated by exchanges ?

If it's true then bitcoin is facing a very serious problem  

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[jabo38]

I think there is lots and lots of new money coming into bitcoin everyday. I know it is more complicated than supple and demand, but it seems like extra demand and extra people buying would drive the price up.  Instead.... the price is softly sinking all the time.  That makes me think that there are some unscrupulous traders that have found a way to cipher off all new funds into their pockets.  Maybe some kind of crazy arbitrage scheme by big exchanges where exchange owners are selling to their personal accounts cheaply, then selling back to the exchange at higher rates. All the extra money from new players then just gets funneled into the exchange owners pockets instead of the price as a whole going up. 

So do I think China is cheating?  Yes, 100%.  I think there are fake volumes, and that is just the start of it. 

[Chillin_with_beer]

I think there is lots and lots of new money coming into bitcoin everyday. I know it is more complicated than supple and demand, but it seems like extra demand and extra people buying would drive the price up.  Instead.... the price is softly sinking all the time.  That makes me think that there are some unscrupulous traders that have found a way to cipher off all new funds into their pockets.  Maybe some kind of crazy arbitrage scheme by big exchanges where exchange owners are selling to their personal accounts cheaply, then selling back to the exchange at higher rates. All the extra money from new players then just gets funneled into the exchange owners pockets instead of the price as a whole going up. 

So do I think China is cheating?  Yes, 100%.  I think there are fake volumes, and that is just the start of it. 

Yikes, this sounds very plausible.

[turvarya]

I think there is lots and lots of new money coming into bitcoin everyday. I know it is more complicated than supple and demand, but it seems like extra demand and extra people buying would drive the price up.  Instead.... the price is softly sinking all the time.  That makes me think that there are some unscrupulous traders that have found a way to cipher off all new funds into their pockets.  Maybe some kind of crazy arbitrage scheme by big exchanges where exchange owners are selling to their personal accounts cheaply, then selling back to the exchange at higher rates. All the extra money from new players then just gets funneled into the exchange owners pockets instead of the price as a whole going up.  

So do I think China is cheating?  Yes, 100%.  I think there are fake volumes, and that is just the start of it.  

Maybe some people want to sink the price, before they are going to buy in big. I am not sure, how they do it, but some big players are obviously doing something.

[jabo38]

We all know about the inherent dangers of Gox, but I think these "working" centralized exchanges are doing just as much harm even when they don't fail.  That is one reason I am a big fan of the NXT asset exchange multi-gateway thing.  It is not fully decentralized, but is distributed and I think therefore much harder to manipulate the price. (also no more Gox worries about a shady character locking your account and stealing your coins) The problem with NXT right now is the volume just isn't high enough and the spreads aren't tight enough.  Plus there are so many NXT whales so I guess this will likely continue.  

I think as more and more exchanges come online that are either decentralized or at least distributed, then a lot of these problems will be solved.  When decentralized exchanges are offering tighter rates, with less fees, and more security then these centralized scamming exchanges won't be able to funnel money off the top keeping Bitcoin price artificially low.  I for one have been really excited about NXT's little brother NEM.  (no such thing as a NEM whale)  The NEM team is getting pretty creative and I was just playing around with their Alpha today and it was smooth.  They are far away from making anything like NXT's multigateway at the moment, but I bet it is possible.  If not NEM, then another platform or many other platforms.  Maybe Stellar, Emunie, or who knows?

NXT has proved it is possible to have a distributed exchange, now it is up to the community to run with it expand and grow.  

[p2pbucks]

more than 80% chinese users think exchanges controlled the price

[jabo38]

I think there is lots and lots of new money coming into bitcoin everyday. I know it is more complicated than supple and demand, but it seems like extra demand and extra people buying would drive the price up.  Instead.... the price is softly sinking all the time.  That makes me think that there are some unscrupulous traders that have found a way to cipher off all new funds into their pockets.  Maybe some kind of crazy arbitrage scheme by big exchanges where exchange owners are selling to their personal accounts cheaply, then selling back to the exchange at higher rates. All the extra money from new players then just gets funneled into the exchange owners pockets instead of the price as a whole going up.  

So do I think China is cheating?  Yes, 100%.  I think there are fake volumes, and that is just the start of it.  

Maybe some people want to sink the price, before they are going to buy in big. I am not sure, how they do it, but some big players are obviously doing something.

Well, if you look at the table lately.  It sinks slowly for a long time, then jumps up.  To me this means big players are sucking all the new money out.  Driving the price down.  Then they have lots of fiat in the bank, so what do they do?  They buy a shitload of bitcoin once the price is low enough.  

The end result, more fiat, more bitcoin, more everything for the exchange that can cheat the most.  

As you can see, I am pretty cynical.  The thing is because bitcoin isn't regulated, this kind of thing is 100% legal.  

[Gleb Gamow]

Has anybody considered that maybe the rich whales all became overwhelm with guilt and are collectively only driving the price down so that they can unload their bitcoins at a lost as an atonement so that others can scoop them up at a reasonable price point so that they then can become guilt-ridden whales themselves to further the cause?  

[blue eyes]

I think there is lots and lots of new money coming into bitcoin everyday. I know it is more complicated than supple and demand, but it seems like extra demand and extra people buying would drive the price up.  Instead.... the price is softly sinking all the time.  That makes me think that there are some unscrupulous traders that have found a way to cipher off all new funds into their pockets.  Maybe some kind of crazy arbitrage scheme by big exchanges where exchange owners are selling to their personal accounts cheaply, then selling back to the exchange at higher rates. All the extra money from new players then just gets funneled into the exchange owners pockets instead of the price as a whole going up. 

So do I think China is cheating?  Yes, 100%.  I think there are fake volumes, and that is just the start of it. 

 but i think the volume of people buying it also has an impact on the price.

[turvarya]

I think there is lots and lots of new money coming into bitcoin everyday. I know it is more complicated than supple and demand, but it seems like extra demand and extra people buying would drive the price up.  Instead.... the price is softly sinking all the time.  That makes me think that there are some unscrupulous traders that have found a way to cipher off all new funds into their pockets.  Maybe some kind of crazy arbitrage scheme by big exchanges where exchange owners are selling to their personal accounts cheaply, then selling back to the exchange at higher rates. All the extra money from new players then just gets funneled into the exchange owners pockets instead of the price as a whole going up.  

So do I think China is cheating?  Yes, 100%.  I think there are fake volumes, and that is just the start of it.  

Maybe some people want to sink the price, before they are going to buy in big. I am not sure, how they do it, but some big players are obviously doing something.

Well, if you look at the table lately.  It sinks slowly for a long time, then jumps up.  To me this means big players are sucking all the new money out.  Driving the price down.  Then they have lots of fiat in the bank, so what do they do?  They buy a shitload of bitcoin once the price is low enough.  

The end result, more fiat, more bitcoin, more everything for the exchange that can cheat the most.  

As you can see, I am pretty cynical.  The thing is because bitcoin isn't regulated, this kind of thing is 100% legal.  

I haven't really thought this through, yet, but I think, that's the same conclusion I would have come to.

[p2pbucks]

yesterday is 796's future delivery day , the price bounce back 10% .

[nuff]

Manipulation in exchanges is NOT a serious problem to bitcoin. Just as manipulation in stock exchanges happens all the time but the stock market is well and alive.

[kingscrown]

remember exchange owners can see how much marins have to be traded to kill positions so they can do it internally..

im not saying they do it but.. they can and u cant even catch them.