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Sure, the same as what prevents anybody from single handedly moving the price of any asset. Liquidity.
by iakh 9y ago
Sure, the same as what prevents anybody from single handedly moving the price of any asset. Liquidity.
- beagle3 9y agoNo, there are many assets which are "cheap" to move singlehandedly, yet are not (often) moved that way because of regulation
- ceejayoz 9y agoThat doesn't always work. http://www.nytimes.com/2013/07/21/business/a-shuffle-of-aluminum-but-to-banks-pure-gold.html http://www.nytimes.com/2013/07/21/business/a-shuffle-of-alum... > The story of how this works begins in 27 industrial warehouses in the Detroit area where a Goldman subsidiary stores customers’ aluminum. Each day, a fleet of trucks shuffles 1,500-pound bars of the metal among the warehouses. Two or three times a day, sometimes more, the drivers make the same circuits. They load in one warehouse. They unload in another. And then they do it again.
- nodamage 9y agoHow sure are you about this? Karpeles has admitted at trial to running bots on Mt. Gox, and such bots are implicated in the rise of Bitcoin's price up to $1000 in 2013: https://cointelegraph.com/news/mt-gox-trial-update-karpeles-admits-willy-bot-existence https://cointelegraph.com/news/mt-gox-trial-update-karpeles-... https://cointelegraph.com/news/new-wizsec-report-points-to-definitive-insider-trading-at-mt-gox https://cointelegraph.com/news/new-wizsec-report-points-to-d... If Mt. Gox successfully manipulated the price of Bitcoin using bots how do we know other exchanges aren't doing the exact same thing right now?