All you "people" saying BTCUSD cannot fall below 6K or 5.8K due to the exchanges, miners, or CBOE and CMT Group wanting to keep up the price for futures trading need to start thinking like an industrialist. Imagine being in the industry as an exchange or miner and you have a bank with deep pockets backing you. You are working in a unregulated industry. You know your US industrial history. What do you do?
>Short crypto >Short CBOE >Short stocks heavily tied to crypto mining >>fool.com/investing/2018/04/23/the-4-top-cryptocurrency-mining-stocks.aspx >Do everything you can to drive the price down so other exchanges and miners cannot break even >Keep the price down so they can never come back >Buy the exchanges, CBOE shares, mining operations at a huge discount >You and your bank become the new Rockefeller and Morgans of Crypto >Everyone long on BTCUSD loses out of a fortune due to the 6k meme >Weak hands lose the most
>Rockefeller didn't want to kill the oil industry >Alcoa didn't want to destroy the aluminum industry. >Vanderbilt didn't want to destroy the rail industry. They want to gain control over the production and distribution. If I was a whale with a mine and an exchange I would be looking to do the same thing.
Michael Walker
>its the 1880s bitcoin is a global market, the miners and exchanges are backed by their respective moguls already.
Elijah Sanders
You think you're the only one who thought of this?
What happens when a bunch of wales try to do the same thing?
I guess they would consolidate until they reached an equilibrium, then opened their own exchanges and try to pump the market.
Oh wait that already happened.
Aiden Adams
The BTC-Tether manipulation paper shows you only need to control the volume at less than 1% of trading hours to prop up the price 50% and other cryptos 60%. A cartel of the the largest miners/echanges could easily break the back of the smaller fish and control production in their country.
Austin Lopez
You don't get control of a market by pumping it, you get control by crashing it and rebuilding on a new, larger consolidated foundation. You could get vertically integrated and increase your margins. We see everything about this market is "Wild west" so why wouldn't the business start acting like industrialist?
Liam Turner
prop up, but crashing it is much harder
Chase Price
Couldn't the SEC do something even years after manipulation had occurred?
Hunter Russell
They have done fuckall with tether manipuation and that has been going on for 4 years. And the kind of high risk people that would do this are the people that think they could outmaneuver the SEC.
Bentley Lewis
>keep price down so that other exchanges and miners cannot break even >sell walls get bought out by entities that aren't in on your plans and don't care to be thanks op just gave away 100k bitcoin below mining price
Kevin Fisher
you clearly did not understand my post.
Thomas Bell
The lower prices increases adoption, which is why you would do this sooner as opposed to later. Also, this works best if the institution doing it is on both sides of the trade. They are shorting, dumping the price,and buying the cheaper coins all at the same time.
Liam Gomez
OP is fake AND gay. Blockchain allows for the NWO and the only way to get people to adopt the mark is via profit. BTC will go to 50k next year, IDK after that but block chain is the mark.
Austin Wood
dupont killed hemp.
Jacob Cruz
It makes sense It's like I take money out of my right pocket and then put it into my left pocket. >profit!
They don't look happy, they look like they work fucking hard. Happiness is a meme to them on a certain level.
Jacob Taylor
I hear what you are saying, but imagine you own exchange A, but you short on exchange B, C, and D with one set of accounts and you move your coins onto those exchanges in different accounts and market sell all at once. You know the timing and they don't. Recycle your accounts so they don't track you down to quickly and you took a huge bite out of your competition.
That was a rival industry. Right now Dupont is traditional banking and crypto is hemp.
Jackson Wright
What a load of nonsense. Sage.
Jackson Brown
>Taking a meme this literally to the point you wright a blog post...
If this post gets dubs bitcoin crashes below 3000 again for another dark age
Evan Smith
rolling for crash
John Nelson
Good thing I sold at 15k. Entry will be in 2-3k or if it goes back to 10k
Grayson Richardson
rockefeller wanted to buy cheap oil, alcoa wanted to buy cheap aluminium. why the fuck would anybody want cheap bitcoin, you cant produce anything with it.
Angel Young
You're buying the premise that Bitcoin will become a reserve le store of value
