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Flagged because the title is sensationalist and doesn't reflect the content of the article (even if you believe the article itself). Seems much more like FUD ag
by danmaz74 9y ago
Flagged because the title is sensationalist and doesn't reflect the content of the article (even if you believe the article itself). Seems much more like FUD against Bitfinex.
Even if "Spoofy" was able to dominate Bitfinex (which they couldn't with the described tactics) that would be a far cry from dominating the price of Bitcoin. There are so many more exchanges.
I started doing doing some trading for fun and profit a few months ago, and "fake walls" were very well known to all users of Poloniex (there used to be a public chat there, so I learned about those almost immediately). It's a sure thing that there are whales manipulating the market, but that's for sure not a single entity, it's not limited to bitfinex, and if you want to gamble on this bubble you have to deal with it.
* edited for clarity
- JohnJamesRambo 9y agoIf you control one large exchange you can exert control over all the exchanges. Arbitrage bots quickly buy and sell any differences between the exchanges.
- danmaz74 9y agoIt goes the other way around mostly, IMHO. Those arbitraging bots will dampen any attempt to control just one exchange.