Post
Topic
Board Speculation
Re: I'm a bear and proud
by
GotBitCoins
on 23/04/2013, 20:11:49 UTC
Good point to consider - thank you nkspace!

It is so easy to manipulate this market - it is so small. When I am trading futures or stocks - I buy a contact that worths say 200,000$ and still I can't move the market - cause the market cap is sooo large. But here... - let me tell you a secret, after the BitCoin value sky rocketed up to 47$ maybe two months ago, there was a software problem, and I tried to pull my money out, geez I did it so slowly and still I managed to take the price under 40$... I mean -yea it was me.... look at the 'rich' early adopters, those that preferred to save those coins instead of buying a pizza with 10,000 coins - they can move the market wherever they want. They will lure as many people as possible into this sucker's rally and then dump so many bitcoins that the price will go shockingly low and then you can see the big orders coming 1000 bitcoins, 5000 bitcoins, yea just around the 50ish...  so yea - there is a possibility that it is manipulated and the thing is - every round like this - these guys are multiplying the number of bit coins that they have so it's not that the richest person is going to have 0.0001% of the market cap - no - it's about individuals that have 0.1% to 1.0% and more of the cap and they can move it and they aren't going away soon. I am not sure that it's manipulated but yes - it's a good point to consider.