Bologniex seems to be actively suppressing XRP success

[ObservantOne]

EDIT: I made assumptions, so I corrected them.

 

(Correction) Okay, from what I have read and heard, it would seem that POLO is currently working against XRP's rise. They don't want people to spread news about XRP in the trollbox so they ban anyone who says anything in favor of XRP, but they will allow other people to spread FUD AND misinformation without banning them. I have witnessed this, and others have taken screen-shots to back it up.

(Assumption) Either they are heavily invested in BTC and ETH (because, lets face it, when they go on a tear we don't see anything "strange" happening) or they are screwing people over when the price goes up, selling from their own wallet and effectively cutting off any upward momentum while simultaneously lining their pockets. Totally possible, right? (Possible, but the "evidence" doesn't say it is absolutely true.)

My question is: if it can be proven that they are manipulating the market to THEIR advantage vs letting it grow, what can be done about it?How can this be proven? Do any of you have input on this particular situation? I guess it could be very difficult to prove, but then even if you did, there is no stopping people from putting their money there. 

Edited May 27, 2017 by ObservantOne

[PunishmentOfLuxury]

I think you may well be correct that Baloneyex is not playing a straight bat. I expect Ripple's remedy (now in action) is to make said exchange small fry in the big scheme of things. Many new exchanges coming on board, and of course the mighty SBI, will eventually make Baloneyex's games fairly irrelevant. It may take some time, but they'll get there.

Incidentally, why might Coinmarketcap be disregarding the price in KRW when calculating VWAP? See the asterisk beside the Coinone price:

https://coinmarketcap.com/currencies/ripple/#markets

[ObservantOne]

9 minutes ago, PunishmentOfLuxury said:

I think you may well be correct that Baloneyex is not playing a straight bat. I expect Ripple's remedy (now in action) is to make said exchange small fry in the big scheme of things. Many new exchanges coming on board, and of course the mighty SBI, will eventually make Baloneyex's games fairly irrelevant. It may take some time, but they'll get there.

Incidentally, why might Coinmarketcap be disregarding the price in KRW when calculating VWAP? See the asterisk beside the Coinone price:

https://coinmarketcap.com/currencies/ripple/#markets

Why the heck did my text not go bold? 

Nvm, I see it lol. The coinmarketcap issue is weird as well. I couldn't find an explanation. I just wish that POLO wasn't a factor in the price dropping. I could be making a completely wrong assumption. Or not.

[cannylad]

I have thought this for a long time, the sudden lags on any upward movements of XRP,  

http://www.altcointoday.com/kraken-and-poloniex-being-scrutinized-for-alleged-insider-trading/

[pucksterpete]

I say we all contact the law firm with complaints against POLO, but first let me get my 1 mil SIA out of there  

[ravintolx]

Well for one we should stop buying XRP with stupid BTC and buy with USD. So it's better to cash out BTC and then buy XRP, this way POLO will be destroyed

[pucksterpete]

3 minutes ago, ravintolx said:

Well for one we should stop buying XRP with stupid BTC and buy with USD. So it's better to cash out BTC and then buy XRP, this way POLO will be destroyed

Just stop trading at POLO, use others

[nikb]

@ObservantOne asks:

Quote

Is there a way that Ripple can take XRP off of POLO?

No. If people choose to trade their XRP on some exchange, there's nothing that Ripple could do. Beyond stating that simple fact, I have no further insights to offer on the topic.

[Sherlock]

Hello everyone, I have a question regarding buying XRPs,  Do you know any way I can buy XRP with Malaysian Ringet? 

[DarthTrader]

I know there is allready an similar topic anwser but the ony way to shrink polo influence is adding more exchanges. Ripple know that and work on it

[ObservantOne]

[mention=1182]ObservantOne[/mention] asks:

Is there a way that Ripple can take XRP off of POLO?

No. If people choose to trade their XRP on some exchange, there's nothing that Ripple could do. Beyond stating that simple fact, I have no further insights to offer on the topic.

I hope I didn't say anything offensive! It is extremely hard to determine someone's intonation in text [emoji5] I guess the better question would be: is there a way to determine if POLO is unethically manipulating the market? I guess it might be very difficult to pinpoint a wallet or theirs, but maybe not. Thank you for replying, nikb! You guys did awesome, and I very much look forward to the upcoming presentations this month!!

Sent from my XT1635-01 using Tapatalk

[ObservantOne]

[mention=1182]ObservantOne[/mention] asks:

Is there a way that Ripple can take XRP off of POLO?

No. If people choose to trade their XRP on some exchange, there's nothing that Ripple could do. Beyond stating that simple fact, I have no further insights to offer on the topic.

OH! I noticed that the way I wrote something in my original post might have come across wrong!
I said it wouldn't set a good precedent for Ripple, but I didn't mean that Ripple had anything to do it that. Just clarifying. [emoji12] I wholeheartedly believe in Ripple and the team behind it. I take every opportunity to defend the reputation of the people I care about when people have nothing to share but misinformation by correcting them.

Sent from my XT1635-01 using Tapatalk

[cmbartley]

Guys. It's crypto. Anything that happens in traditional capital and stock markets happens in crypto, probably moreso. Is there insider manipulation going on? Almost definitely. Is it happening at Polo? Who knows. That's not Ripple's job to police to be honest. Polo is registered with FinCEN and this would be under their purview. I agree that growing the network will lessen the dependence of XRP on one exchange and is generally healthy for the market.

The other thing I would recommend is that XRPchat members follow other crypto forums too. Every alt community feels that Polo has it out for their token specifically. It puts things in perspective. You should see frustration of the Sia community. They've been complaining for months that Polo is deliberately inactiviting the withdrawal wallet. Come to find out yesterday that Sia devs had an error in their code, it was not Polo's fault. 

This is crpyto, there are literally no rules yet, it's the wild west, don't invest more than you can afford to lose, and protect yourself. If you feel strongly that something illegal is going on then go to the proper people, the authorities. 

[nikb]

I don't think you said anything wrong @ObservantOne.

I just wanted to make very clear that I was addressing that one question only and choosing to not address anything else from your post because I had nothing insightful or relevant to add.

[ObservantOne]

4 minutes ago, nikb said:

I don't think you said anything wrong @ObservantOne.

I just wanted to make very clear that I was addressing that one question only and choosing to not address anything else from your post because I had nothing insightful or relevant to add.

I will admit that I do make assumptions. Sometimes they are wrong. Sometimes they are right. Regardless, your statement is very true: people put their money where they wish. 

On top of that, we can also see the exchanges that Ripple has listed on the website ...yeah. I'm not worried so much about the price, as I know that support for XRP is there, more exchanges are supporting us and eventually POLO will be a small fry. I get it. 

I guess I feel for people who lose out on these "strange" occurrences, and wish I could do something about it. The best answer, obviously, is to not put anything into that exchange.