Re: Fake transactions in the exchanges again? Don't trust your eyes...
Could someone explain to me how, technically, and exchange coud manipulate the prices by putting fake orders?
I can see how to fake the volume, but the price...
Even if Bitstamp finds a way to manipulate the price on their exchnage, how would they manipulate it elsewhere?
I can see how to fake the volume, but the price...
I could buy into that possibility. I heard speculation that it might be due in part to Bitstamp trying to rebuy cheap coins to compensate for the stolen money owed? If true, that could account for the sharp 24 hour decline, but still does not detract from the fact that it's been a half year bear market. But certainly a possibility.
Even if Bitstamp finds a way to manipulate the price on their exchnage, how would they manipulate it elsewhere?
Easy, take the coins from cold storage and sell them on the other exchanges, sell fake database coins on their own exchange and keep enough real coin on hand for withdrawals and hope there isn't a bank run before you buy back the cheap coins after the panic crash.
correct. you have to be a child to think that the big exchangers are not related somehow and that they do not take advantage. they are a gang and there are too much money on table. they will push the limits as much as possible, they will earn a lot of money and then.... "who cares?!"
I have read a post here "The exchanges have an incentive to make their markets as fair as possible so more people will trade on them which would result in more trading commissions for them"
Tell that to MT Gox's victims. Remeber, MTGox was the BIGGEST exchanger ; around of 70% from market. "You" knew his face, you knew his identity, his office, bank account and "you" were scammed.
Imagine, that BTC-e (it's a random choice) has no face, no office, no identity...and you keep sending money to "them". After BTC-e will ran with your funds, you will start screaming : thief! ....even you knew from beginning what you are doing. Is it not a VERY strange community here?