Newar
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November 03, 2014, 02:50:22 PM |
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There is no such thing as manipulation for a peer to peer currency.
Traders around the world will buy if there is a perceived discount for bitcoin.
Exchanges are not peer to peer ... Exactly. I'm afraid there's not much we can do about price manipulation and it really is disheartening. There's no way to tell what the current value of bitcoin is and even the peak price looks to have been manipulated to there. Exactly , I agree with #turvarya . It is only a question of manipulation and the exchanges don't help the "peer-to-peer" idea. On the good site: You can make peer-to-peer-trades with openbazar(when it has finished) and I have heard of another peer-to-peer-exchange-project(but forgot the name) You already can make peer to peer trades today. That is not the problem. The problem is the price discovery. Because even person to person trades will be based on an exchange rate / index published somewhere (give or take a few percent).
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wesk1212
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November 03, 2014, 03:26:30 PM |
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You guys are gonna have another ball on your private part by the time bitcoin hits thamoon
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chek2fire
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November 03, 2014, 03:37:22 PM |
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We dont care about the price of bitcoin with fiat money. For us 1bitcoin=1bitcoin and this a real value and not comparison with fiat scam money.
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ThinkBox
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November 03, 2014, 03:40:08 PM |
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We dont care about the price of bitcoin with fiat money. For us 1bitcoin=1bitcoin and this a real value and not comparison with fiat scam money.
That's the best way to look atit a lot of people are to fussed about it being worth this much in fiat
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cozk
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November 03, 2014, 03:46:18 PM |
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We dont care about the price of bitcoin with fiat money. For us 1bitcoin=1bitcoin and this a real value and not comparison with fiat scam money.
What a loser's mentality. Its like the losers when i was a kid who kept saying : The important is not necessarily to win but to participate. Come one man...
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chek2fire
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November 03, 2014, 03:51:07 PM |
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We dont care about the price of bitcoin with fiat money. For us 1bitcoin=1bitcoin and this a real value and not comparison with fiat scam money.
What a mentality of loser. Its like the losers when i was a kid who kept saying : The important is not necessarily to win but to participate. Come one man... Ok you are a winner. You win a paper with some funny sketch on it...you deserve this value for you life..Winner ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.vector-eps.com%2Fwp-content%2Fuploads%2F2010%2F06%2Fold-american-dollars-models.jpg&t=665&c=TJ97F_ri2cEgsA)
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superresistant
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November 03, 2014, 03:57:14 PM |
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I doubt that exchanges are manipulating the price down, on the contrary they are interested to pump it up but can't do much now. The bubble has to properly deflate and then the Willy clones will pump the price up, after the last ATH will be broken new bagholders will rush in.
Chinese exchanges are nothing but exchange, there is no trading fees. Their profit come from something else... People deposit their BTC, the exchange sell the BTC for FIAT and give a % interest (in BTC) on the account. The Bitcoins does not exist but it is so improbable that people withdraw that the scam can go on for a while. Example : I deposit 100 BTC. The exchange sell my BTC for 1000 USD/BTC, they get 100K USD in da pocket. I do not withdraw or sell my BTC because the exchange give me interest in BTC. They push the price down to 900 USD/BTC with totally fake volume. I now have 100 BTC + 2 BTC interest on my account. The thing is, my 102 BTC are now worth 91800 USD so I lost 8200 USD to earn 2 BTC. Repeat. Profit !! (the exchange, not me) They'll keep doing it until Bitcoin is worth zero unless we stop them. if the price goes down is because someone has sold bitcoin to fiat at that price profit of exchanges is in bitcoin volume You don't get it. The Bitcoin on an exchange are not real Bitcoin. Those Bitcoins are not on the blockchain and therefore can be faked. Chinese exchange have no trading fees.
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pajak666
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November 03, 2014, 06:45:14 PM |
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probably exchanges are trading fake bitcoins. by fake I mean they know that there always will be some stash of coins which will not be withdrawn all at once. So if they know that they got X ammount of bitcoins which will always be there, they can manipulate the price with it. I wonder what would happen to the exchanges if all coin holders would cash out all of their holdings in the same time.
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Prez
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November 03, 2014, 06:54:13 PM |
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Is that the reason for the price dip? So coinbase can buy more bitcoin? Doubtful.
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dlowings
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November 03, 2014, 06:55:14 PM |
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probably exchanges are trading fake bitcoins. by fake I mean they know that there always will be some stash of coins which will not be withdrawn all at once. So if they know that they got X ammount of bitcoins which will always be there, they can manipulate the price with it. I wonder what would happen to the exchanges if all coin holders would cash out all of their holdings in the same time.
market cap would go to zero
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BitUsher
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November 03, 2014, 07:07:52 PM |
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probably exchanges are trading fake bitcoins. by fake I mean they know that there always will be some stash of coins which will not be withdrawn all at once. So if they know that they got X ammount of bitcoins which will always be there, they can manipulate the price with it. I wonder what would happen to the exchanges if all coin holders would cash out all of their holdings in the same time.
market cap would go to zero Not exactly. Price Discovery would be difficult and Market Cap would be determined by other sources like localbitcoins and marketplaces like purse.io or simply word of mouth. Arbitrage would grow between locations greatly.
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Piston Honda
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Juicin' crypto
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November 03, 2014, 07:15:18 PM |
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Well hey, if it's low now just don't sell any to FIAT (I understand some folks HAVE to at times)...so just hold it. If those exch's are THAT powerful and rich to manipulate the price, just wait a bit until it goes back up...boom, make more money. Mind you I'm sure tehre's MUCH more to it re. the bitcoin price manipulation than just "big exchanges" messing with it.
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$ADK ~ watch & learn...
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hodap
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November 23, 2014, 03:47:29 PM |
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There is no such thing as manipulation for a peer to peer currency.
Traders around the world will buy if there is a perceived discount for bitcoin.
Exchanges are not peer to peer ... Exactly. I'm afraid there's not much we can do about price manipulation and it really is disheartening. There's no way to tell what the current value of bitcoin is and even the peak price looks to have been manipulated to there. Exactly , I agree with #turvarya . It is only a question of manipulation and the exchanges don't help the "peer-to-peer" idea. Producers and sellers will only sell the coin on the exchange which quote them the best price. Anyone who think the price can be manipulated, care to give the mechanic on how this can be done?
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turvarya
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November 23, 2014, 04:08:25 PM |
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There is no such thing as manipulation for a peer to peer currency.
Traders around the world will buy if there is a perceived discount for bitcoin.
Exchanges are not peer to peer ... Exactly. I'm afraid there's not much we can do about price manipulation and it really is disheartening. There's no way to tell what the current value of bitcoin is and even the peak price looks to have been manipulated to there. Exactly , I agree with #turvarya . It is only a question of manipulation and the exchanges don't help the "peer-to-peer" idea. Producers and sellers will only sell the coin on the exchange which quote them the best price. Anyone who think the price can be manipulated, care to give the mechanic on how this can be done? It is discussed here: https://bitcointalk.org/index.php?topic=866258.0
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arbitrage001
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November 23, 2014, 04:13:07 PM |
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There is no such thing as manipulation for a peer to peer currency.
Traders around the world will buy if there is a perceived discount for bitcoin.
Exchanges are not peer to peer ... Exactly. I'm afraid there's not much we can do about price manipulation and it really is disheartening. There's no way to tell what the current value of bitcoin is and even the peak price looks to have been manipulated to there. Exactly , I agree with #turvarya . It is only a question of manipulation and the exchanges don't help the "peer-to-peer" idea. Producers and sellers will only sell the coin on the exchange which quote them the best price. Anyone who think the price can be manipulated, care to give the mechanic on how this can be done? It is discussed here: https://bitcointalk.org/index.php?topic=866258.0What is being said there is total horseshit. Conditions to manipulate price for long term simultaneously on all exchanges do not exists.
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turvarya
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November 23, 2014, 05:01:32 PM |
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There is no such thing as manipulation for a peer to peer currency.
Traders around the world will buy if there is a perceived discount for bitcoin.
Exchanges are not peer to peer ... Exactly. I'm afraid there's not much we can do about price manipulation and it really is disheartening. There's no way to tell what the current value of bitcoin is and even the peak price looks to have been manipulated to there. Exactly , I agree with #turvarya . It is only a question of manipulation and the exchanges don't help the "peer-to-peer" idea. Producers and sellers will only sell the coin on the exchange which quote them the best price. Anyone who think the price can be manipulated, care to give the mechanic on how this can be done? It is discussed here: https://bitcointalk.org/index.php?topic=866258.0What is being said there is total horseshit. Conditions to manipulate price for long term simultaneously on all exchanges do not exists. Do you also believe the stock market can not be manipulated?
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GermanGiant
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November 23, 2014, 05:04:44 PM |
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first time i have ever had to agree with a link moriarty posts..
PHP based exchanges are very much fake valuations
Though I agree with the fact stated above, I disagree with your hatred against PHP.
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political
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November 23, 2014, 06:44:28 PM |
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PHP based exchanges are very much fake valuations
What does this have to do with the programming language the exchange is written in? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Correct, one thing has nothing to do with the other. First of all, exchanges don't even provide 'valuations', they provide market prices based on order flow. As others pointed out, it is impossible for exchanges to manipulate prices for very long because of arbitrage. If an exchange artificially lowers price, they do it to their own detriment because traders will buy it cheap from them and sell elsewhere. If they artificially raise price, they lose money in the same fashion as traders buy from other exchanges and dump them at a premium. The only exceptions I can think of are a ridiculously large spread, or a gox situation where you can't get your money out; that's a different story. As for PHP, there is nothing wrong with it per se. There are many wonderful MVC PHP frameworks available which make front end development robust. It may not be ideal for the backend of a large scale trading engine, but even that depends on the database and the overall architecture of the system. also, folks should stop pretending/assuming they know the architecture of someone else's website when they don't.
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scarsbergholden
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November 23, 2014, 10:42:55 PM |
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There is no such thing as manipulation for a peer to peer currency.
Traders around the world will buy if there is a perceived discount for bitcoin.
Exchanges are not peer to peer ... Exactly. I'm afraid there's not much we can do about price manipulation and it really is disheartening. There's no way to tell what the current value of bitcoin is and even the peak price looks to have been manipulated to there. Exactly , I agree with #turvarya . It is only a question of manipulation and the exchanges don't help the "peer-to-peer" idea. Producers and sellers will only sell the coin on the exchange which quote them the best price. Anyone who think the price can be manipulated, care to give the mechanic on how this can be done? It is discussed here: https://bitcointalk.org/index.php?topic=866258.0What is being said there is total horseshit. Conditions to manipulate price for long term simultaneously on all exchanges do not exists. Do you also believe the stock market can not be manipulated? The stock market can be manipulated however it is not manipulated by the exchanges, it can potentially be manipulated by market participants (although this is very rare as the stock market is heavily regulated).
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Lauda
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Terminated.
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November 23, 2014, 10:56:53 PM |
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Well then make an exchange yourself, and don't manipulate the price? (if that is the case)
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion)
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