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> smells like Binance played 4D chess all along It's not really "4D chess" to screw over your competitor to corner the market. That's like, business 101.
by ForHackernews 4y ago
> smells like Binance played 4D chess all along
It's not really "4D chess" to screw over your competitor to corner the market.
That's like, business 101.
- rchaud 4y agoBusiness 101 is buy low, sell high. Winning an evenly matched game of prisoner's dilemma with billions at stake is about as close to 4D chess there is.
- Nomentatus 4y agoBuy low esteem, sell high esteem - the concept comes from Hetty Green (long ago billionaire.)
- wesapien 4y agoI'm not too familiar but can you elaborate on how the screwing happened.
- ForHackernews 4y agoCZ tweeted "Oh shit, FTX is basically insolvent, we're gonna have to dump all our FTT magic beans!" or words to that effect. Then, when FTX predictably tanked, he stepped in and generously offered to buy out FTX.
- lupire 4y agoSame thing Soros did to the Bank of England's fake pound.
- astrange 4y agoTypically you don't expect Bank of America and Chase to do this to each other.
- hprotagonist 4y ago...anymore.
- lupire 4y agoPorsche and Volkswagen did.
- gpderetta 4y agoMarket manipulation is not exactly business 101.
- eru 4y agoI'm not sure this is market manipulation?
- gpderetta 4y agoDepends on the intention I guess. They might have been genuinely worried that the token was going to crash and also didn't trust the counterparty to be able to pay for it. In this case it would have been a genuinely legitimate transaction. But if dumping the whole stock was done with the intention, even partial, to crash the price, then it seems to me that it would be manipulation. Of course crypto is unregulated, so it wouldn't be illegal.