Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I am thinking of opening an account on bitfinex, unless somebody advises against it, if not would anybody have a referred code for it? thanks
Bitfinex with their inside trading (manipulating).. could be new Gox soon. So yah, deposit only as much as you are willing to risk.
You logic doesn't make sense to me.
Assuming their insider information really helps them to gain an effective advantage and thus continuously make them money then you should assume they want to keep this operation running (as is) as long as possible. Why would you assume they are and will continue to constantly loosing money while trying to exploit their presumed (but technically proven to be ineffective) advantage (assuming they make more losses than profits) or choose to steal everything (thus becoming actual criminals) rather than continuing an already profitable operation (without effective legal problems)?
I think the Gox insider trading (Markus/Willy) was presumed to be a last (failed) attempt to recover funds which had been lost already (due to an earlier hack). But the new theories tend to think otherwise (those bots didn't belong to Karpeles but a [inside or outside] hacker who used them to steal the funds).
Well... they admitted inside trading. They already have a gold mine (fees + lending), so why would they need to destroy they reputation with inside trading? I would say there is something wrong. I did a lot of trading there and I still do, but only with a small % of my coins. Just my thoughts
why did karpeles? he had millions form the fees and yet he destroyed his gold mine.
I think the answer is quite simple - he was a poor fucker who wanted more. if spice stops to flow for some reason you can always cook your books and manipulate order books.
Imagine that all the BTC Finex have available for swaps are made up. They use them to short the price and build up huge reserves of cash while driving down the price. At the right time, after they have used the cash they drained out of the ecosystem to buy enough artificially cheap coins, they stop shorting and start letting the price naturally correct.... profit...
unlikely.
if something is made up then it must be cash. when cash dries up you come with a hack or withdrawing story.
Can you explain why this is unlikely?
Bitcoin available for swaps would never leave the internal ledger books if they were lending them to themselves.
sooner or later someone will try to buy and withdraw those non existing coins.
fiat it is much easier to manipulate and it can be created from thin air easily.
bitcoiners learned from the best.