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As if this space didn't have enough problems already: https://www.marketwatch.com/story/us-regulators-demand-trading-data-from-bitcoin-exchanges-in-manipulation-probe-2018-06-08 I remember when the first BTC futures contract expired, how BTC's price just happen to take a dive a day or two before that. Fishy stuff? - maybe. The BTC contracts are settled in cash, so one possible way to game the system I suppose is to buy BTC prior to expiration gradually, increase the price, then sell it as price is doing good, and then dump most of it shortly prior to expiration, then when contract(s) expire you cash them out, so you "win twice", or if too much capital is required to move the price of BTC by buying it, you just make it look like the price went down (on exchanges if that's even possible) so you can at least cash out on the BTC futures contract(s) without having to buy BTC in the first place. There are different possible ways to game the system, but I don't know how they would do it...BTC has high marketcap and I don't know if one exchange, even a big one, has power to manipulate the price to that extent, and even if they were able to, the manipulation might be obvious.
https://steemit.com/bitcoin/@supercrypto1/4th-dimension-bitcoin-manipulation-cartel-price-suppression-is-the-goal Could all be conspiracy theorist illuminati BS, but all theories have a basis in reality. it also strengthens our need to be unpegged from BTC.
Let me preface this post with stating that I am in XRP since 2014/2015 and believe in the technology, the strategy, the team and the use-case. However I am puzzled, like many of you, by the a-typical price behavior of XRP. It tends to hover in the 24 ct. range like it did for a very long time in the 0.6 ct. range. After breaking news it will rise temporarily and then go back to where it was. I find it hard to believe that the mass of crypto investors steer away from XRP out of 'principle' as evidenced by the price rise last may. Looking at the Polo Trollbox at that time there was the same kind of greed as you see with any P&D. I didn't notice any 'principle' Ripple have stated many times now that they do not actively control price So the idea of coordinated third parties manipulating price (as explained recently in a post by someone who met an 'insider') becomes more credible to me @nikb @JoelKatz are you willing to shed some light on the following questions? Are you as surprised about the price behavior as many of us are here? If not are you allowed to explain why not? Do you have people who are specialized in analyzing market dynamics? Are you actively investigating current price behavior? Is there something you can do from a legal, financial or technical standpoint to stop third party manipulation (if any)? It would really help me to know that Ripple is looking into it or if you can state that you are not worried at all. Thx.