Re: How much money and bitcoins do you need to influence the price?
So, the latest buzzword in Bitcoin is manipulation. Has anyone worked out how much money and bitcoins is needed to trigger
a change in the buy and sell behaviour of traders on exchanges? I know the Silkroad Auction did not make a significant impact
on the price and the same goes for the odd coins that were sold from the MtGox hoard. How many coins can individuals dump
on exchanges to push the price down like this? How long can they sustain such an action to sabotage the price? These are
questions that are very relative at the moment.
If the SEC says that the high price increase of last year was manipulation, then they must bring the proof. Let's do our own
informal assessment of the situation and determine what would be needed to cause that kind of a spike in the price.
a change in the buy and sell behaviour of traders on exchanges? I know the Silkroad Auction did not make a significant impact
on the price and the same goes for the odd coins that were sold from the MtGox hoard. How many coins can individuals dump
on exchanges to push the price down like this? How long can they sustain such an action to sabotage the price? These are
questions that are very relative at the moment.
If the SEC says that the high price increase of last year was manipulation, then they must bring the proof. Let's do our own
informal assessment of the situation and determine what would be needed to cause that kind of a spike in the price.
I think you need billions. But only a huge company can do that. Those who has the most Bitcoin could ever manipulate the market and that scares me a lot.