BTC market manipulation once futures start?

Discussion in 'Mining & Cryptocurrency' started by quiktake, Dec 7, 2017 at 6:57 AM.

  1. quiktake

    quiktake Limp Gawd

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    What would prevent a whale from make a big bet on the bitcoin dropping and then making a huge sell order to trigger that drop?

    Reminds me of the story of the "Onion king" story here in the U.S. and the old comparison to Tulip futures 400 years ago in Holland.
     
  2. RogueTadhg

    RogueTadhg [H]ard|Gawd

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    Back in the day in 2014 there was "BearWhale" that cashed in 30k worth of bitcoins. Drive the cost down and purchase more bitcoin for cheap. It didn't work.

    I don't know how it would fair now that there's so much more money in stake and people hold a lot more than 30k worth of coins that's worth a Lottery-Jackpot (420 Million @ 14k per BTC) amount of money. (Fuckers. Not salty. Not at all salty... No, I really am so salty like the Dead Sea.)
     
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  3. atp1916

    atp1916 2[H]4U

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    LOL the bearwhale. I remember that.

    Didn't work cause his sell order got bought up too quickly and never actually dropped the price.

    With not all serious institutional cash / investors *in*, that is exactly what would happen again.
     
  4. RogueTadhg

    RogueTadhg [H]ard|Gawd

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    Didn't he announce s/he was going to do it before hand anyways?