Post
Topic
Board Exchanges
Re: And we have another Bitfinex Hookey THIEVING Short Squeeze!
by
MatTheCat
on 22/06/2014, 13:27:32 UTC

You guys had no problem with having an independent audit done back in April to prove your solvency.  You didn't first demand a bet to be made with someone before proving it.  I don't see how this situation is any different.  And why do you "need to reward the 2 parties that will then come and witness the fact that the trade wasn't a fake trade"?

For the record, for the majority who have skim read through this thread. I do believe that Bitfinex buff their volume with fake trades, but that is not my beef here. The whole 'Fake Trade' 10 BTC 10/1 ratio challenge was Giancarlo trying to obscure the issue. This is something that a liar does when his nefarious activities have been revealed. He instantly tries to deflect the nature of the accusation into a form which he can disprove.

But I am not saying that there were any fake orders on that short squeeze break out. I am saying that the exchange bot front ran the Ask wall buying up all the BTC required by a big pile of Stop Loss orders, and then sold those coins to the Stop Orders at the highest possible price that is beneath the next valid Ask order. And if the process is much more refined than that, then I am saying that Bitfinex front run in the farming of stop loss orders on their own exchanges.