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When the Winklevoss twins became aware of BTC (or at least shortly after they started talking about it publicly), some classic market manipulation ploys began a
by iaw 10y ago
When the Winklevoss twins became aware of BTC (or at least shortly after they started talking about it publicly), some classic market manipulation ploys began appearing.
It could be coincidental, but I've always been suspicious that the Winklevoss twins were the first people of a mind and with the capital to start gaming the BTC market as one can any other financial institution.
The Winklevii are not people I'd like to distantly do business with.
Edit: I'm trying to find articles but it was years ago. What I recall were cycles of Ramps and Bear Raids. https://en.wikipedia.org/wiki/Market_manipulation https://en.wikipedia.org/wiki/Market_manipulation
- ericjang 10y agoI almost read that as Wink-evil. https://en.wikipedia.org/wiki/Priming_(psychology) https://en.wikipedia.org/wiki/Priming_(psychology)
- noja 10y agoCan you go into more detail on what kinds of market manipulation ploys exist?
- socialist_coder 10y agoBuy coins, create positive news & watch the price go up, sell coins at the new high. Sell coins, create negative news & watch the price go down, buy coins at the new low. Same as what unscrupulous people have been doing since the beginning of commerce.
- sneak 10y agoBack when bitcoin was pennies, I bought BTC and then listed a bunch of nonexistent desirable drugs shipping from a convenient location for sale on the silk road, then dumped the BTC a few cents higher, without ever taking an order. I only made a few bucks, but I was curious if it were possible then to move such a tiny market. It was.
- pierrepoutine 10y agoi'll send you some doge coin for those drugs
- bbcbasic 10y ago> some classic market manipulation ploys began appearing Cryptocoin markets are a haven for scams and manipulations. When I was into it I was hearing of a new scam almost every week. I don't think there is any correlation with Winklevoss let alone causation. Unless you have some evidence or references to present?
- leakybit 10y agoSo I guess it's no different than the stock market.
- askmike 10y agoVery different actually, the stock markets are highly regulated. If you get caught dealing with penny stocks or insider trading you go to jail. One of the reasons the SEC didn't approve this ETF was because of the lack of regulation on exchanges.
- djrogers 10y ago> some classic market manipulation ploys began appearing. Citation? Not disagreeing - I have no knowledge either way, but this is about as useless a statement as one can imagine without backup.
- deleted 10y ago[deleted]