Say it ain't so.....
Say it ain't so.....
Say it ain't so.....
CFTC Suspects Bitcoin Futures Price Manipulation
According to anonymous sources cited by The Wall Street Journal, the United States Commodity Futures Trading Commission (CFTC) is coordinating with the U.S. Justice Department in conducting investigations into price manipulation in the Bitcoin futures. The criminal probe was launched after several cryptocurrency exchanges rejected a request from the Chicago Mercantile Exchange, the financial company that sells futures contracts based on Bitcoin, to share trading data. The exchanges are Bitstamp, Coinbase, Itbit, and Kraken.
Yes, indeed in the US... similar things have been happening elsewhere in the world for some time now... and good. Although despite this I have not heard any evidence of any manipulation having yet been found... but there have been one or two suspect, in my opinion, actions when new currencies have been enabled on certain exchanges....
But it is getting very big business these days, with for example the Coinbase Crypto Index Fund now open for investment amongst many others... given the reset from last December/November I suspect we will quite a bit of volatility as chance for quick profiteering has increased significantly and I am not sure how good or healthy that really is... one upside, big business brings more scrutiny at Crypto/fiat exchanges and that has got to be a good thing.
In my humble opinion, price manipulation has been rife. For example, there are pump groups that target exchanges to pump and dump coins. 100 wallets control a majority of the bitcoin market. These whales work in co-operation to control the price. Bitcoin is not really anonymous because each wallet has a public address. A spider can easily cast a web of connections. Regulation should encourage more steady and long term investment in cryptocurrencies. I really believe they are the future to a decentralised world.
Indeed Bitcoin and most blockchain technologies are not truly anonymous (never quite sure why anyone thought they were but ho hum) which is one of the main reasons why they are a secure way of auditably transfering value. However there are a few niche cryptos that use interesting technology like ZCash and Mondero that are truly anonymous like cash and one hears anecdotally they can be used for unlawful activities in certain parts of the world as they are more convenient than cash.
What i do find interesting is the value of Bitcoin to other major Cryptos, and since the December peak Bitcoin has been slowly losing its dominance in favour of new technology and more flexible cryptos... and the ratio of the values of the cryptos is reflecting that... I suspect this will continue.. and Bitcoin will simply become somewhat of a specialist legacy Crypto of value only used by a few and an exchange reference value standard, as well a generic layman reference for cryptos in general.
Well, they would say that, wouldn't they?
.....they can be used for unlawful activities in certain parts of the world as they are more convenient than cash.
Due to the high costs of using cash for those same unlawful activities.
As the Western world descends into fascism Bitcoin will die.
I always knew there was a risk involved with Bitcoin but I never imagined a complete geopolitical realignment would turn the USA into a fascist nightmare.
Goodbye Bitcoin. The world doesn't deserve nice things.
Steve Bannon ICO: Deplorable Coin? Who's buying?
Oh well it was nice while it lasted. It seems as though those who had to the good sense to use it as a temporary money making venture had it off as we say in my part of the world but those who built a future or a retirement on it now have sad faces.
The crypto space more generally appears to be evolving well now.. and returning to perhaps its longer term pattern in terms of stored value.. which is interesting... I agree Bitcoin is relatively declining and making way for the newer tech.. I have been watching for a little while and this transfer over and redistribution of value to other cryptos has been rather consistent and interesting to observe. Bitcoin has also become more stable in value, which makes it useful as a reference. Not to say there won’t be another surge and collapse like last November/December, but I guess that sort of pattern attracts the wrong sort of interest... albeit it is fun whilst it happens.
Interesting also with the news of the Korean exchange Bithumb cyber crime attack.. the crypto market in my opinion has been quite resilient to this so far, say 6 months or so back such an event in my opinion would have had far more impact.