Bitcoin price manipulation?

[GreyAndroidGravy]

Possible BTC manipulation by Bitfinex. 

[Amigo]

Very interesting reed.. quite techincal, but very interesting. I actually saw similar orders appear and disappear in the orderbook of Kraken some 6-9 months ago when I was digging in to some stuff.

One additional thought: there was a time, or actually sometimes still, I have this feeling that the price of XRP does not rise as one would expect after realy remarkable (positive) news items.. almost as if some entity is holding it down. Could this be the same entity, not wanting XRP to get to big as this would maybe disturb their plans or grip on the market?

Either way, maybe it would be an idea for Ripple or @JoelKatz or @Hodor to consider analyzing trading from their professional side, or ask some exchanges to evaluate their order books history on this. I hate abuse and manipulation of any cryptocurrency, and would certainly not want such schemes getting a grip on XRP.  Another reason for banks to buy in big on XRP and only use it for its purpose if you ask me; once they do so massively it would only be possible for Gates or Zuckerberg to manipulate its price ;).

Edited August 6, 2017 by Amigo
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[Hodor]

1 hour ago, Amigo said:

One additional thought: there was a time, or actually sometimes still, I have this feeling that the price of XRP does not rise as one would expect after realy remarkable (positive) news items.. almost as if some entity is holding it down. Could this be the same entity, not wanting XRP to get to big as this would maybe disturb their plans or grip on the market?

XRP price has "gone parabolic" five times this year with no interference from any "entity".  

• If I subscribe to your conspiracy theory, what is your explanation for why it was allowed to "go parabolic" so many times in April and May? 
• And FYI - it has outperformed Bitcoin and Ethereum so far in 2017 by a very wide margin.

If you can explain those two inconvenient facts or fit them into your theory, I'd be inclined to listen!

[Hodor]

Now back to the original topic!
 

Quote

 

What is ‘Spoofing’, you may ask?

Spoofing is placing orders which you have no intent on allowing to execute.

The goal of spoofing is to send false signals to other traders that they will act upon. Placing a large bid may indicate bullishness, causing traders to close short positions and possibly even buy Bitcoins.

You can profit from this by placing asks for your own bitcoin, then send false signals for bullishness, and people close short positions by buying your Bitcoins you have on ask orders.

 

This actually doesn't surprise me!  It's the "wild west" in crypto trading still, and this sort of thing will happen in (currently) unregulated markets. 

[Amigo]

47 minutes ago, Hodor said:

XRP price has "gone parabolic" five times this year with no interference from any "entity".  

• If I subscribe to your conspiracy theory, what is your explanation for why it was allowed to "go parabolic" so many times in April and May? 
• And FYI - it has outperformed Bitcoin and Ethereum so far in 2017 by a very wide margin.

If you can explain those two inconvenient facts or fit them into your theory, I'd be inclined to listen!

Haha, I realize those, and I know that Xrp outperformed all, deserves to do so and I am more than satisfied with it so far and will hodl as I'm truly convinced the potential is even way, way, WAY bigger. But in fact that's a bit where it appeals to the back of my mind I guess: the potential is so obviously huge and some signals are so strong (such as a consumers application comming, solid roadmap on remitance, SBIs statements, etc): other coins (even big ones like bitcoin and eth) react much stronger to new developments. But maybe we should turn it around: knowing that it is the wild west out there, let's monitor it anyway.. just in case..  just as good governance over it.. 

Edited August 6, 2017 by Amigo
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[Graine]

I have seen order spoofing behaviour almost on all exchanges. Until they start taking fees for submitting orders (like we have on RCL), the spoofer risks nothing. 

[Hodor]

1 hour ago, Amigo said:

But maybe we should turn it around: knowing that it is the wild west out there, let's monitor it anyway.. just in case..  just as good governance over it.. 

You are right.

I've brought this up before:  we have the tools to track individual wallets.  In addition, I know for a fact that some XRPChat members have created some clever algorithms to search through the ledger for the "largest sellers" and "largest wallets". 

We should have a suite of tools where we can collectively analyze the market together and determine the health of the market. (on an as-needed basis). 

The community of investors must agree that our interests are just that; our interests.  They may not always match up with the company's interests.  The company is not going to help us identify any of their clients' wallets, for example, but it's probably in our best interest to pursue verification of industry XRP usage in ways that make sense and don't negatively impact adoption. 

I'm open to suggestion! 

[g00p]

There is a lot more going on than large orders to motivate buyers or sellers to move. With all the bots out there, trading is already super automated, but with people knowing how the bots work and react, I imagine they could easily be manipulated. 

[Guest]

i rly just think it's some random rich motherfluffer

i doubt bitfinex would risk being involved, what's to gain if they're already making profits?

then again, this is the cryptosphere...

[Malloy]

If that's true,  "Spoofy" is giving everyone a very good indicator where the big whales want the price to go.