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There is criminal level fraud occurring. I am not going to throw allegations out, but I believe there will be a day in the coming years where we read stories a

There is criminal level fraud occurring. I am not going to throw allegations out, but I believe there will be a day in the coming years where we read stories about organized crime and pump and dumps in this space. I believe the bitcoin forks will be at the heart of this all. Everybody is happily singing the song of crypto while the music is going. Not sure how long it will last.

StanislavPetrov 9y ago
In other words, you're saying bitcoin is the stock market.
mavdi 9y ago
Same doom story I've been hearing since it all started. Bitcoin is real, get used to it.
cryptodogemoon 9y ago
Why Bitcoin forks? Exchanges would be where the fraud happens. MtGOX was insolvent and yet they inflated the price of Bitcoin across all exchanges. Bitfinex is alleged to be engaging in the same market manipulation through margin wash trades and their central bank scheme of free Tether minting. Bitcoin forks are funny because it's decentralized software with a shared database history from the time of the fork. After an update, users can choose to use one or the other. Unfortunately the incentives are warped for miners and devs, so users might not have the best possible design. There's an excessive amount of propaganda surrounding cryptocoins because "investors" need to psychologically lure you in to buy their supply, which they've acquired for significantly lower value, lower capital, and lower computational work then you if you're starting after them. [0] https://medium.com/@bitfinexed/latest https://medium.com/@bitfinexed/latest
- pmorici 9y ago
  Because supporters of Bitcoin Core want to dis-credit Bitcoin Cash and the way they are doing it is by promoting a bunch of increasingly scummy Bitcoin forks. Then they say hey look these forks are all scams. Bitcoin Cash is a fork there for it too is a scam. Nothing could be further from the truth though.
  - tradersam 9y ago
    Ver rode the Cash band-wagon to help his position of control over the ecosystem, as did many others. Hundreds of millions of value was created — and a lot instantly lost — in a day. It's been pumped over and over again by mining pools looking to make a quick buck while the difficulty is low as well. That is where the "scam" lies. It isn't discrediting BCH — BCH already did that to itself.
    - pmorici 9y ago
      Here is an example of a typical clueless Bitcoin investor with irrational hate toward a prominent player in the space who did nothing more than express their genuinely held opinion.
      - tradersam 9y ago
        Well, good job at assuming incorrectly. You wouldn't know by my comment that I've been in the space since '11, or that I've contributed to the codebase (however slightly). Nope, you just see a completely pragmatic view of Ver's actions as an attack, probably formed on the r/btc sub (that he mods). I love how you say "completely clueless" too — because it's ironically you.
        pmorici 9y ago
        So an individual exercising their economic freedom to buy and sell an asset and express their opinion is an "Attack" in your book?
    - curyous 9y ago
      Do you have a problem with Ver helping to restore Bitcoin’s original functionality of making instant, practically free transactions? If you don’t like BCH then don’t use it, you can leave that to everyone else.
      - tradersam 9y ago
- DSingularity 9y ago
  Because forks were necessary for their plan. The exchanges we're definitely in on it. Adding futures for forks? Is there any doubt that they were colluding?
opportune 9y ago
It's not happening because of forks per se. I think the weak link is Tether. There are already signs of a lot of shady shit going on with disappearing funds, essentially capital controls, etc. The exchanges are the ones perpetuating this and once people find out the whole crypto market might crash - which would be a shame because it could set back crypto as a whole by quite a bit
roflchoppa 9y ago
Funny, I was working on a research paper for this Ethics class talking about organized crime, and how they made movements into cybercrime (credit card, ID theft, etc). What popped up in my head last week was with the whole USDT/Tether Tokens, there has to be a good chunk of cash getting into these networks that is dirty. Cycling around in the various networks will get easier with Atomic Swaps / SEGWIT... Far fetched idea is that these networks were designed for this type of washing. Clean and Dirty money enters in, someones bound to walk at some point.

StanislavPetrov 9y ago

In other words, you're saying bitcoin is the stock market.

mavdi 9y ago

Same doom story I've been hearing since it all started. Bitcoin is real, get used to it.

cryptodogemoon 9y ago

Why Bitcoin forks? Exchanges would be where the fraud happens. MtGOX was insolvent and yet they inflated the price of Bitcoin across all exchanges. Bitfinex is alleged to be engaging in the same market manipulation through margin wash trades and their central bank scheme of free Tether minting. Bitcoin forks are funny because it's decentralized software with a shared database history from the time of the fork. After an update, users can choose to use one or the other. Unfortunately the incentives are warped for miners and devs, so users might not have the best possible design. There's an excessive amount of propaganda surrounding cryptocoins because "investors" need to psychologically lure you in to buy their supply, which they've acquired for significantly lower value, lower capital, and lower computational work then you if you're starting after them. [0] https://medium.com/@bitfinexed/latest https://medium.com/@bitfinexed/latest

pmorici 9y ago
Because supporters of Bitcoin Core want to dis-credit Bitcoin Cash and the way they are doing it is by promoting a bunch of increasingly scummy Bitcoin forks. Then they say hey look these forks are all scams. Bitcoin Cash is a fork there for it too is a scam. Nothing could be further from the truth though.
- tradersam 9y ago
  Ver rode the Cash band-wagon to help his position of control over the ecosystem, as did many others. Hundreds of millions of value was created — and a lot instantly lost — in a day. It's been pumped over and over again by mining pools looking to make a quick buck while the difficulty is low as well. That is where the "scam" lies. It isn't discrediting BCH — BCH already did that to itself.
  - pmorici 9y ago
    Here is an example of a typical clueless Bitcoin investor with irrational hate toward a prominent player in the space who did nothing more than express their genuinely held opinion.
    - tradersam 9y ago
      Well, good job at assuming incorrectly. You wouldn't know by my comment that I've been in the space since '11, or that I've contributed to the codebase (however slightly). Nope, you just see a completely pragmatic view of Ver's actions as an attack, probably formed on the r/btc sub (that he mods). I love how you say "completely clueless" too — because it's ironically you.
      - pmorici 9y ago
        So an individual exercising their economic freedom to buy and sell an asset and express their opinion is an "Attack" in your book?
  - curyous 9y ago
    Do you have a problem with Ver helping to restore Bitcoin’s original functionality of making instant, practically free transactions? If you don’t like BCH then don’t use it, you can leave that to everyone else.
    - tradersam 9y ago
DSingularity 9y ago
Because forks were necessary for their plan. The exchanges we're definitely in on it. Adding futures for forks? Is there any doubt that they were colluding?

opportune 9y ago

It's not happening because of forks per se. I think the weak link is Tether. There are already signs of a lot of shady shit going on with disappearing funds, essentially capital controls, etc. The exchanges are the ones perpetuating this and once people find out the whole crypto market might crash - which would be a shame because it could set back crypto as a whole by quite a bit

roflchoppa 9y ago

Funny, I was working on a research paper for this Ethics class talking about organized crime, and how they made movements into cybercrime (credit card, ID theft, etc). What popped up in my head last week was with the whole USDT/Tether Tokens, there has to be a good chunk of cash getting into these networks that is dirty. Cycling around in the various networks will get easier with Atomic Swaps / SEGWIT... Far fetched idea is that these networks were designed for this type of washing. Clean and Dirty money enters in, someones bound to walk at some point.