Ninjastic
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Board Speculation
Re: How Easy is it to Coordinate Price Manipulation?
by
unent
on 20/12/2014, 23:00:51 UTC
Quote from: exoton on December 20, 2014, 10:55:43 PM
Quote from: unent on December 20, 2014, 10:50:48 PM
Quote from: exoton on December 20, 2014, 10:44:41 PM
It might have been possible to manipulate the price in 2012, but there is really too much money involved in trading bitcoin now to be able to manipulate it. When you have small amounts "moving" the price it is really a consequence and the price would likely have moved in such direction with or without your trade

Right now bitcoin has had a $21,173,900 volume of trades today. Moving the price for any significant period of time would cost a fortune today.
Assuming that your figure is correct, you would probably need to throw at least seven figures (in excess of a million dollars) to potentially move the market in any meaningful amount. That is really just too much money to risk in order to make a few bucks

It depends how accurate coinmarketcap's figure is because I cut and pasted the figure directly off it. There must be quite a few millionaires here, but I doubt they would be willing to risk a million to make a few bucks when they can already live off what they already have for the rest of their lives.