Quote from: alyssa85 on May 17, 2016, 11:35:01 AM

Quote from: LCSociety on May 17, 2016, 10:46:14 AM

"The SEC" won't be investigating anyone one in the crypto currency market. It's not their jurisdiction

The Securities Act of 1933 describes securities as things we all understand to be securities: notes, bonds, stocks, etc.

Bitcoin, it's clones and virtually ALL alternative digital currencies are initially generated not by an investment of money, but by expending computer resources or (mining)

Therefore all cryptographic currencies are commodities.

When digital currrency derivatives begin to surface, this will give "the SEC" some jurisdiction. Until then, they're absolutely powerless in this market.

Quote from: r0ach on May 17, 2016, 08:18:10 AM

An example would be the attempted BTC shakeout a week ago on BitFinex where someone used around $3 million to try and break the price below $450, but Bitstamp, Coinbase, and others refused to follow their manipulation.

It was not an "attempted shakeout," actually it's funny that you think someone would execute a $3mill transaction with the sole intent of "shaking someone out" of the market. Hilarious

Someone sold $3mill worth of coin on Finex.. That's it. It happens...

I'm not saying that there isn't manipulation taking place, because there clearly is. But there are many individuals holding $1mill+ worth of BTC who aren't part of this manipulation ring.

That "shakeout" that you make reference to, was merely a single actor who decided to cash out. Hence why there wasn't a universal move across the rest of the exchanges

Nailed it.

Cryptocurrencies arn't regulated by the SEC. Bitcoin in New York, is regulated by the BitLicence - but Poloniex is not based in New York and doesn't accept NY customers (this is why they brought in all that FYC stuff last year - to make sure they weren't dealing with New Yorkers).

How much do you want to bet that Tristan (busoni) is actually in NY and not in Montana? Wink

I'll let you decide how much you wanna lose