Quote from: jabo38 on September 19, 2014, 09:40:33 AM

Quote from: turvarya on September 19, 2014, 09:32:20 AM

Quote from: jabo38 on September 19, 2014, 09:24:44 AM

I think there is lots and lots of new money coming into bitcoin everyday. I know it is more complicated than supple and demand, but it seems like extra demand and extra people buying would drive the price up. Instead.... the price is softly sinking all the time. That makes me think that there are some unscrupulous traders that have found a way to cipher off all new funds into their pockets. Maybe some kind of crazy arbitrage scheme by big exchanges where exchange owners are selling to their personal accounts cheaply, then selling back to the exchange at higher rates. All the extra money from new players then just gets funneled into the exchange owners pockets instead of the price as a whole going up.

So do I think China is cheating? Yes, 100%. I think there are fake volumes, and that is just the start of it.

Maybe some people want to sink the price, before they are going to buy in big. I am not sure, how they do it, but some big players are obviously doing something.

Well, if you look at the table lately. It sinks slowly for a long time, then jumps up. To me this means big players are sucking all the new money out. Driving the price down. Then they have lots of fiat in the bank, so what do they do? They buy a shitload of bitcoin once the price is low enough.

The end result, more fiat, more bitcoin, more everything for the exchange that can cheat the most.

As you can see, I am pretty cynical. The thing is because bitcoin isn't regulated, this kind of thing is 100% legal.

I haven't really thought this through, yet, but I think, that's the same conclusion I would have come to. Wink