Post
Topic
Board Service Discussion (Altcoins)
Topic OP
How anyone else noticed the poloniex XRP/BTC exchange is a fraud?
by
nolimitnp
on 09/04/2017, 03:39:01 UTC
As is most of the rest of the their site, part of the time. I've seen it happening between 3-7 AM Pacific time most days. Like on the right side you have your buys, or sells, whichever you prefer. The list will either decrease or increase in a linear fashion, meaning the buy and sell orders will fall almost directly next to each other, never stopping (except to let trades go through.) The idea is that you buy low and sell high, repeating the process over and over again to profit. I don't know if it they do it on all exchanges, but I know Litecoin, Ripple, and Ethereum for sure. Unfortunately some jackass with a bot has high jacked the process in the Ripple exchange. You can probably go check it out now. And besides, depending on the exchange, it's kinda slow. I made an entire litecoin trading back and forth 40 of them last night.

But another issue. I'm fine with bots in general, but not to the point they eliminate all human interaction. I borrowed on margin when litecoin first took off. If you look at the peak, after that there is an almost choreographed fall. I'd think eh, shit happens, but it fell EXACTLY to my margin maintenance number when my account was liquidated before turning around. Now I had plenty of litecoin on hand to prevent such a fall. The bot would not all me to enter any data. I'm bitter of course, but there's not a god damned thing I can do about it. Just keep an eye out for extreme market manipulation, or, possibly ways to get rich quick. If you have a bot that automates the process I'm talking about, please for the love of God let me know!