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RE: Mysterious Trader With "Nearly Unlimited Bankroll" Said To Manipulate, Dominate Price Of Bitcoin
Followed and upvoted, resteem coming on 3rd day of the post, bookmarked for now!
This is exactly why i'm being hater on the network. Your complete post is pointing only one thing clearly...
CryptoCurrency has been manipulated and on a world scale - scam...
Since it's very own beginning. Now it's just multiplied with faces, brands and coins. OpenLedger/BitShares is also having some algorithm i'm sure for extra cash and manipulation on the market.
There is still a lot more stories (smaller scales) but exactly same concept like this happening all the time... Through history until today and so on.
Cheers,
Great stuff!
Luci
Yes effectively there are algorithms being employed through API's etc on the exchanges for all the major cryptos and they are acting in a HFT fashion as virtual market-makers - so large and bids / asks will appear and reappear all day automatically and nearly instantly as trades occur
@sky77 - I know, im doing it myself sometime to catch greater bid on OpenLedger/BX for BTC. I come and offer sell/buy one value over another making it higher bid, and buying it myself from another wallet. Once transaction is made, market starts doing higher bids and transactions, allowing me to earn on my own transfers. But we are talking here on much larger scale fraud, not being broker/stock agent.
Yes I did it earlier too on a coin - I won't say which one or where :) it failed by the way. I'm not a real crypto trader. I know it is large described above -- but there isn't much that can be done about it yet and you can call it "fraud" but other than boycotting that exchange what can be done.
Exactly what i'm doing at the moment. I never was a crypto trader myself, but i do have certain gift for analyzing patterns :)