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People do not realize how manipulated the traditional financial markets are otherwise known as Wall Street. Cryptocurrency is less manipulated as it's run by a

People do not realize how manipulated the traditional financial markets are otherwise known as Wall Street. Cryptocurrency is less manipulated as it's run by a different culture of people.

deleted 9y ago
[deleted]
temp 9y ago
What culture would that be?
- eppsilon 9y ago
  These guys, I guess: https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html https://www.nytimes.com/2018/01/13/style/bitcoin-millionaire...
enknamel 9y ago
I don't believe that to be true. Cryptocurrency is very easy to attack. Look at the previous ethereum, bitcoin, etc attacks. Not to mention massive wallet thefts. The complete lack of any insurance. It's very much a wild west market. Sure the traditional stock market is heavily manipulated but there's enough cross competition there that it balances out.
gtcode 9y ago
It's not technically incorrect to say there is manipulation in the US markets, but comparing bitcoin exchanges to US exchanges is a bit laughable. The US Federal Reserve has (had) what amount(ed) to a printing press, associated with "working groups" a.k.a. PPT. However, major US exchanges themselves, whether stock, futures, etc., are far more regulated and mature compared to a bitcoin exchange. The manipulation to which you're referring is far more indirect.
- KasianFranks 9y ago
  Lets talk about QE-1-4, the printing of money and bankers being bailed out. Your argument does not stand by any measure of reason or logic. Lets also talk about investment bankers and VC's who are completely being disrupted.
  - prklmn 9y ago
    https://en.wikipedia.org/wiki/Whataboutism https://en.wikipedia.org/wiki/Whataboutism
  - AnimalMuppet 9y ago
    We know about that. Let's not bother to talk about it; it smells like trying desperately to change the subject. We're talking about how, with all that you said about financial markets, bitcoin is worse. Saying "but the financial markets are manipulated" doesn't refute the claim we're talking about whatsoever.
- bushido 9y ago
  Its been a while since I've seen someone refer to the PPT. For those unfamiliar with the abbreviation PPT stands for the Plunge Protection Team[0]. [0] https://www.investopedia.com/terms/p/plunge-protection-team.asp https://www.investopedia.com/terms/p/plunge-protection-team....
- lallysingh 9y ago
  The crypto markets are pretty close to OTC markets. Any significant flow will shift markets. The only problem, IMHO, is that traditional investors are looking at it.
astura 9y ago
Do we really know anything siginficant about the extent of the players in the cryptocurrency marketplace to know if the statement "cryptocurrency is less manipulated" is true or not? We don't even know who created it in the first place! I thought the general assumption is that there's a lot of "unknown unknowns"? Am I wrong?
- KasianFranks 9y ago
  Yes, I used to run small OTC public company. I've seen the difference in manipulation. Here's weird thing: Goldman and others (with the exception of Bear Stearns and LEH) the big guys get regulatory breaks in law because they can afford to pay off people like Warren Buffet ($5bil to Goldman) - you don't see these guys in jail. This is why the crypto movement is happening.
kahnpro 9y ago
This statement is laughably naive... crypto markets are quite literally a wild west free for all. We're going to see crypto markets go through many of the same lessons that traditional markets did and slowly relearn why we have regulation and insurance.
matwood 9y ago
You would have been better off relating crypto to the existing currency markets. Forex is nearly unregulated (insider trading is completely fine), and is generally a free for all. https://www.investopedia.com/articles/forex/06/sevenfxfaqs.asp https://www.investopedia.com/articles/forex/06/sevenfxfaqs.a...

People do not realize how manipulated the traditional financial markets are otherwise known as Wall Street. Cryptocurrency is less manipulated as it's run by a different culture of people.

deleted 9y ago

[deleted]

temp 9y ago

What culture would that be?

eppsilon 9y ago
These guys, I guess: https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html https://www.nytimes.com/2018/01/13/style/bitcoin-millionaire...

enknamel 9y ago

I don't believe that to be true. Cryptocurrency is very easy to attack. Look at the previous ethereum, bitcoin, etc attacks. Not to mention massive wallet thefts. The complete lack of any insurance. It's very much a wild west market. Sure the traditional stock market is heavily manipulated but there's enough cross competition there that it balances out.

gtcode 9y ago

It's not technically incorrect to say there is manipulation in the US markets, but comparing bitcoin exchanges to US exchanges is a bit laughable. The US Federal Reserve has (had) what amount(ed) to a printing press, associated with "working groups" a.k.a. PPT. However, major US exchanges themselves, whether stock, futures, etc., are far more regulated and mature compared to a bitcoin exchange. The manipulation to which you're referring is far more indirect.

KasianFranks 9y ago
Lets talk about QE-1-4, the printing of money and bankers being bailed out. Your argument does not stand by any measure of reason or logic. Lets also talk about investment bankers and VC's who are completely being disrupted.
- prklmn 9y ago
  https://en.wikipedia.org/wiki/Whataboutism https://en.wikipedia.org/wiki/Whataboutism
- AnimalMuppet 9y ago
  We know about that. Let's not bother to talk about it; it smells like trying desperately to change the subject. We're talking about how, with all that you said about financial markets, bitcoin is worse. Saying "but the financial markets are manipulated" doesn't refute the claim we're talking about whatsoever.
bushido 9y ago
Its been a while since I've seen someone refer to the PPT. For those unfamiliar with the abbreviation PPT stands for the Plunge Protection Team[0]. [0] https://www.investopedia.com/terms/p/plunge-protection-team.asp https://www.investopedia.com/terms/p/plunge-protection-team....
lallysingh 9y ago
The crypto markets are pretty close to OTC markets. Any significant flow will shift markets. The only problem, IMHO, is that traditional investors are looking at it.

astura 9y ago

Do we really know anything siginficant about the extent of the players in the cryptocurrency marketplace to know if the statement "cryptocurrency is less manipulated" is true or not? We don't even know who created it in the first place! I thought the general assumption is that there's a lot of "unknown unknowns"? Am I wrong?

KasianFranks 9y ago
Yes, I used to run small OTC public company. I've seen the difference in manipulation. Here's weird thing: Goldman and others (with the exception of Bear Stearns and LEH) the big guys get regulatory breaks in law because they can afford to pay off people like Warren Buffet ($5bil to Goldman) - you don't see these guys in jail. This is why the crypto movement is happening.

kahnpro 9y ago

This statement is laughably naive... crypto markets are quite literally a wild west free for all. We're going to see crypto markets go through many of the same lessons that traditional markets did and slowly relearn why we have regulation and insurance.

matwood 9y ago

You would have been better off relating crypto to the existing currency markets. Forex is nearly unregulated (insider trading is completely fine), and is generally a free for all. https://www.investopedia.com/articles/forex/06/sevenfxfaqs.asp https://www.investopedia.com/articles/forex/06/sevenfxfaqs.a...