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Not common with Bitcoin itself-- even if someone comes up with something that actually will move the price, it's hard for them to be the ones that profit from i
by nullc 3y ago
Not common with Bitcoin itself-- even if someone comes up with something that actually will move the price, it's hard for them to be the ones that profit from it.
The P&Ds are common with thinly traded premined coins.
The altcoins have done a fair job of sweeping people with zero scruples away from Bitcoin. I'd be quite surprised if this were someone trying to drive up the price of Bitcoin.
- hnlmorg 3y agoI've not been following Bitcoin news for a few years now but I seem to recall there were lots of reports about BTC "whales" making up a significant proportion of the overall wealth on BTC. And how they used their position to manipulate the market to some extent. A quick Google seems to back my assumptions too, eg https://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp https://www.investopedia.com/articles/investing/052014/why-b... Now I'm not saying that the OPs theory about this being a pump and dump is likely correct. But I don't think it is any more speculative than the other ideas offered here (jilted ex / copy&paste error / testing code that mistakenly shipped / etc)
- nullc 3y agoInevitably when you see people talking about "whales" they end up linking to exchange wallets (which naturally experience activity that both leads and lags trade). And they're also talking about parties controlling 1000 BTC levels... which, while an astounding amount of money, are still small compared to the markets. I can't say it's impossible, but I'd rate most of the other speculation above it. Then again, nothing stops someone from trying something that won't work...
- thom 3y agoMtGox, Tether?