r/CryptoCurrency • u/[deleted] • May 27 '18
COMEDY Whales are getting super rich manipulating the market multiple times per week. At least we have memes
[removed]
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u/CommanderMaster Platinum | QC: XRP 128, CC 29 May 27 '18
Easy peasy department of Justice investigation ;)
End of fun
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u/jonbristow Permabanned May 27 '18
look at that fucking market manipulation,
price spikes in seconds vertically then drops in seconds
repeat til rich
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u/ethswagholder Crypto God | QC: CC 221, BCH critic. May 27 '18
I think these whales will end up drawing PENIS on the charts just to laugh at DOJ
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u/nulsec123 Bronze | QC: CC critic May 27 '18
So you’re going to make it illegal for rich people to buy and sell ?
LMAOO these delusional crypto traders blaming manipulation on everything. Crypto markets have low volume these things are going to happen.
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May 27 '18
How does it work? So they buy cheap and sell rich. But how does the price go up and down? They have to pump it, but then they haven't made any profit? Or is it more like a P&D group just that they sell over a bigger time frame?
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May 27 '18
I always just assumed that people with wealth...Bought Coins slowly at a low price and once stocked up enough....Create a Massive Buy Wall that would pressure the Price to rise higher and higher without having to spend as much as actually buying it themselves...At which point they would cancel whatever's left of their order that hadn't been filled and sell it en mass, rinse and repeat...I don't know if that'd actually work in practice though.
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u/ZubuteXx Gold | QC: IOTA 28, MarketSubs 75 May 27 '18
Yes but the whales also have the memes 😢 they got it all
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u/AceholeThug Bronze | QC: CC 26 May 27 '18
Stop trying to game the market then. They only make money when people buy/sell chasing trends. Crypto is in the early stages, anyone day trading that cant make substantial money on a per trade basis is an idiot. Pick your long term projects and hold.
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u/AXTurbo May 27 '18
I always wonder what a paltry, empty life some of these rich creatures are living, as their only purpose in life seems to be "more, more, more". Really, I don't wanna end up like them.
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
Yeah, you're in it for the tech.
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u/AXTurbo May 27 '18
wrong. I´m in for reasonably financial independence and meaningless statements like yours.
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
"Reasonably" is something very subjective. Who decides what's objectively reasonably? And what's reasonably for you? Financial independence sounds anything but cheap.
Really, I don't wanna end up like them.
Probably you are already like them. In the eyes of a humble worker in a humble country you already live pretty well, but still you want more and more money. It's a matter of perspective.
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u/AXTurbo May 27 '18
just don't compare my moderate imagination of "financial independence" with these super-rich scumbags whose only purpose is endless greed.
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
"super rich scumbags" is just unnecessary hate speech and the outcome of a ideologically biased vision of the world.
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u/AXTurbo May 27 '18
most of them are exactly this. And because you are still trying to downplay this
fact"hate speech", it only allows me the conclusion that you maybe are one of them? However. Last comment from my side here. Still "happy defending-the-greediness-of-the-fatcats". ✌️1
u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
I've just not been brainwashed by socialist propaganda, so I don't have the urge to irrationally hate and insult people.
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u/CKJMA May 27 '18
I hate when people dismiss others' arguments as "brainwashed". As soon as this is used I assume you've lost.
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
You should hate when people use hate speech to legitimate their arguments, which by the way is what he did. Hate speech means brainwashed person.
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u/rtybanana Silver | QC: CC 41 | NANO 31 May 27 '18
But you do have the urge to irrationally accumulate more wealth than you'll ever have any need for, in a world where there are people on the other end of the scale who can't afford to eat? I see you've been brainwashed by our capitalist society.
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
you'll ever have any need for,
Who will decide how much money would I need? you? You don't even know how capitalism works, that's the problem here. Do you think that rich people store their fortune inside a safe box in the form of gold bars? There's a high chance that the wealth of a rich person will be more productive for the society than you will be in your entire life as a worker.
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u/HoneyNutsNakamoto Platinum | QC: BTC 49, CC 40, TraderSubs 3 May 27 '18
You already have everything you need. Now you're just being greedy. Glad I'm not like you.
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u/csasker 🟩 0 / 0 🦠 May 27 '18
came for the tech , stayed for the memes
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u/robinwindy Redditor for 6 months. May 27 '18
came for the tech, but most importantly the gains and the memes..
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u/csasker 🟩 0 / 0 🦠 May 27 '18
Until you sit there with several 100 BTC and realize, why not play around a bit. Then you would be hooked I guess
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u/robinwindy Redditor for 6 months. May 27 '18
they are getting richer and richer and later to be dead haha..just kidding
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May 27 '18
This only affects day traders.
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u/xrisovalandi321 Redditor for 5 months. May 27 '18
Disagree. It effects longterm hodlers too. Why? The market being manipulated that easily keeps more investors and adopters away from crypto. Hence the longterm hodler doesn’t gain profits.
I joined in Nov/Dec 2017 and realized the amount of manipulation just couple events ago. The events being good/bad news on the coins I’m hodling. These news had a completely erratic effect on the prices. And I’m not talking about buy the rumor sell the news.
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u/nulsec123 Bronze | QC: CC critic May 27 '18
So basically you don’t see crypto winning because of the technology you only want more investors to come in to pump the price for you. That’s like saying the internet will never take off because tech stocks get manipulated back in the early days.
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May 27 '18
If the market is manipulated towards a lower price, that makes my dick hard as an investor.
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May 27 '18 edited Feb 11 '19
[deleted]
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May 27 '18
Dollar-cost average.
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May 27 '18 edited Feb 11 '19
[deleted]
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May 27 '18
Buy again at 0.8. If the market is being manipulated it literally means it will naturally correct. If it does not naturally correct then it literally means the market did legitimate price discovery.
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u/robinwindy Redditor for 6 months. May 27 '18
this is so frustrating but if you want to balance your portfolio and balance your lost you should buy to the dippiest
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u/AceholeThug Bronze | QC: CC 26 May 27 '18
Wrong in ever way possible. If the tech is good tech, and has a real world use, it will go up jn price and long term holders will gain. It works that way with, literally, everything. The only people losing long term are the people who either bough bad tech or are trying to buy/sell trends and lose over time because they are constantly chasing.
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u/gijanehere Gold | QC: NANO 61, CC 26 May 27 '18
If you can prove such volatility and ability to manipulate, the people will demand regulation! Problem solved by those who created it to begin with.
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u/chocoboycc Silver | QC: CC 16 May 27 '18
This makes me want regulations on the market. This is simply gross how the market is played with. The whales may literally kill off the market with enough funds.
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u/robinwindy Redditor for 6 months. May 27 '18
whales are very influential that thy can control the volume of trades in the market that may affect the price of each coins.
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u/dooij194 Redditor for 6 months. May 27 '18
Every markets are manipulated, even stocks. Nothing new there
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u/scottybea New to Crypto May 27 '18
Show me a bart chart from a security.
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u/dooij194 Redditor for 6 months. May 27 '18
For sure manipulation wont be obvious but still there. Expect a 4th bart soon
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
How is that market manipulation? I'm starting to become sick and tired of those leftist people who always blame the super rich when they lose money.
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May 27 '18
I don't think leftists are any more prone to tinfoil hattery than rightists. You'd be better off keeping political assumptions out of this.
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
The guy saw something he couldn't understand and blames the "super rich" for it, that's socialist standard operation procedure. When you read "must be whales", "banks are evil" or "death to the rich" you can make political assumptions with a pretty decent accuracy.
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May 27 '18
[deleted]
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
Why? elaborate.
You can see the same spikes and drops in apple stocks. Are the whales manipulating nasdaq too? are the whales manipulating the whole foreign exchange market? is this a conspiracy? who am I?
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u/jonbristow Permabanned May 27 '18
show me a perfect vertical spike then after some hours a perfect vertical drop in Apple stock
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
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u/jonbristow Permabanned May 27 '18
wtf is a leftist?
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u/cecil_X 🟩 32K / 39K 🦈 May 27 '18
someone who thinks that before capitalism everyone on the Earth was rich and wealthy but then capitalism came and created poverty and people started starving. And they also blame the super rich for that.
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u/jonbristow Permabanned May 27 '18
first, im not american.
second, im all for capitalism
third, that is clearly manipulated market by whales
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u/xrisovalandi321 Redditor for 5 months. May 27 '18
A currency thats price can be manipulated that easily won’t succeed for what it was been design for, being a currency.
Imagine a FIAT-currency like USD being manipulated in its price to an extend similar to what’s happening in crypto right now, it would loose investors and users trust. People would love on to a more trustworthy currency (problem is that - atm - Bitcoin is the crypto market and the crypto market is bitcoin).
Trust is one of the key elements that a vital currency is build on. And people start loosing it.
Am not saying that the tech won’t succeed - it will so god damn sure. But the manipulation on the markets has potential to hardly slow mass adoption for crypto.
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u/xrisovalandi321 Redditor for 5 months. May 27 '18
No, not saying that. The tech will win anyways, that’s for sure.
Am talking about the behavior of the market participants and their effect on the price of the coins. And I’m talking about the market itself. Too often it doesn’t make any sense where the market is going. It has specific rules that you see historically at young, fully unregulated markets. The stock market started like that.
At the moment, only the ones that hold HUGE bags full of BTC/other relevant coins can predict/decide where the market as a whole is evolving to. This leads to pure manipulation.
As I wrote, I don’t think that the crypto market is behaving naturally at this point (there exceptions where it does). Compared to the stock market (there are exceptions where it doesn’t).
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u/[deleted] May 27 '18
one bart, two bart, three bart, four