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by anopows
4589 days ago
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I'm no expert in these fields. But I guess it wouldn't work because if you sell a lot of bitcoins you couldn't sell all at the same price. Eg. you want to sell 10k Bitcoins. The price is 750$ and the first 50 Bitcoins you can sell for 750$. Now after that there are not enough limit orders anymore available for that price category. So you would sell a lot of bitcoins for much less than the price was originally when you started selling. And vice versa if you buy them. So I would doubt that you make a profit (because you can't sell/buy at price x and then afterwards the market price reacts. The market price reacts already while buying/selling in large quantities). As I see it it's the same principle as if you own a large part of a stock, there you could argue the same. |
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Read the section in this article titled Enter the tape-painting “Shark Squad”. I've seen a few similar articles that document how simple it is to do market manipulations in Bitcoin that would get you immediately cuffed on Wall St. And it doesn't even take that many parties to pull them off! Because Bitcoin is actually transacted sooooo little.
I can't say for sure though. There are a lot of debates about transactional volume but impossible to tell because some of the big money Bitcoin holders just buy/sell to heighten the perception of its popularity.
http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-...