Majority of bitcoin trading is a hoax, new study finds - Page 1

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[ARCHIVED THREAD] - Majority of bitcoin trading is a hoax, new study finds (Page 1 of 3)

Posted: 3/23/2019 8:04:42 PM EST

Be careful out there.

An analysis published by Bitwise this week shows that 95 percent of bitcoin spot trading is faked by unregulated exchanges. The survey, first reported by The Wall Street Journal, echoes concerns by regulators that cryptocurrency markets are still ripe for manipulation.

Bitwise, an asset manager in the process of trying to list the first-ever bitcoin exchange-traded fund, said it met with the Securities and Exchange Commission on Tuesday to discuss its application. As a part of the process, it submitted analysis that could help regulators cut through the noise.

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CNBC article

Posted: 3/23/2019 8:09:21 PM EST

[#1]

No way Op. Its the next big thing. You just gotta keep pumping money into it to see.

Posted: 3/23/2019 8:13:47 PM EST

[#2]

bitcoin is fake money anyway.

Posted: 3/23/2019 11:15:52 PM EST

[#3]

I bought a 87 million dollars on eBay in the 99 cent listings

Posted: 3/23/2019 11:19:40 PM EST

[#4]

In before we get to hear that stock market is also a rigged game.

Posted: 3/23/2019 11:20:51 PM EST

[#5]

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bitcoin is fake money anyway.

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I could never believe in computer money.

Posted: 3/23/2019 11:22:46 PM EST

[#6]

What exactly does an exchange faking volume have to do with bitcoin itself?

Posted: 3/23/2019 11:25:10 PM EST

[#7]

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What exactly does an exchange faking volume have to do with bitcoin itself?

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Faking demand to drive up the price?

Posted: 3/23/2019 11:25:35 PM EST

[#8]

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I could never believe in computer money.

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Yes, because a 2-1/2" x 6" piece of paper has "real value" that you can believe in.

Posted: 3/23/2019 11:28:16 PM EST

[#9]

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In before we get to hear that stock market is also a rigged game.

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For most people it is.

Posted: 3/23/2019 11:30:17 PM EST

[#10]

Hows it any different than a self-clearing brokerdealer with deep deep pockets making markets to sop up liquidity in the market?

Without the rules in place to tip the odds in favor of the big boys, the reality is that the unregulated crypto market is more “fair”

Posted: 3/23/2019 11:30:21 PM EST

[#11]

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I could never believe in computer money.

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Quoted:
bitcoin is fake money anyway.

I could never believe in computer money.

Yup.

Posted: 3/23/2019 11:31:11 PM EST

[#12]

Imaginary money is fake? What!?

Posted: 3/24/2019 12:31:21 AM EST

[#13]

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For most people it is.

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Quoted:
In before we get to hear that stock market is also a rigged game.

For most people it is.

That's a poor way of looking at it.

Posted: 3/24/2019 12:33:31 AM EST

[#14]

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bitcoin is fake money anyway.

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It's not even that.... At least with FRNs I actually have something I can wipe my ass with. I can't say the same for the $5000 database entry.

Posted: 3/24/2019 12:34:39 AM EST

[#15]

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Yes, because a 2-1/2" x 6" piece of paper has "real value" that you can believe in.

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It has the power of "if other countries stop trading in it we will kill a bunch of their people and break a bunch of their shit". So there is that...

Posted: 3/24/2019 12:36:51 AM EST

[#16]

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I could never believe in computer money.

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Quoted:
bitcoin is fake money anyway.

I could never believe in computer money.

Unless you are only paid in precious metals and keep it all underneath the mattress, I have some news for you...

Posted: 3/24/2019 12:36:52 AM EST

[#17]

There will be a time when E money will be the way, but not till there are better controls, more oversight, and verifiable exchange rates.

In other words, once the Fed takes it over.

Posted: 3/24/2019 12:39:24 AM EST

[#18]

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Imaginary money is fake? What!?

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For being imaginary fake money, it did a decent job buying me a new gun.

Posted: 3/24/2019 12:40:11 AM EST

[#19]

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That's a poor way of looking at it.

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Well it's just reality. Most of the people who trade in the market feed the top guys who really make money at it. Sad fact is retail investors don't have the time, funds or access to the tools that pros do. Very hard to compete with that. Don't get me wrong, I'm not saying that its impossible or that it should be regulated or any of that. Someone can be successful if they are committed and put in their time.

Posted: 3/24/2019 12:47:07 AM EST

[#20]

I love how bitcoin nerds hate the thought of using a physical fiat currency backed by an actual economy. They prefer a fiat currency that requires internet access, can't be accessed during a long term power outage, and is backed by the full faith and credit of 4chan.

And then they think it is somehow "off the grid" and going to protect them from the government tracking their purchases and seizing their assets. The same government that literally controls internet access and wireless bands. Gonna be kind of tough to initiate plan bitcoin bug out if the deep state Rothschild money control conspiracy was true after all and they simply block consumer access to the internet like North Korea.

Posted: 3/24/2019 12:50:48 AM EST

[#21]

I have to say I wonder how much is money laundering... buy low, inflate the price, sell high to you overseas account... pay taxes on the sale on shore... bam clean money.

Posted: 3/24/2019 1:05:36 AM EST

[#22]

Bitcoin and the U.S. dollar are monopoly money.........kicking the can down the road is the law of the land............

Posted: 3/24/2019 1:15:58 AM EST

[#23]

Faked exchange volume... yawn.... if you didn't already know this you're an idiot.

Crypto trading is very similar to stock, forex, or commodity trading. Unless you have big bucks, inside info, or political connections the deck is stacked against you in more ways than you can even imagine.

Doesn't mean you won't make any money, just means some else will usually be making much much more.

I wonder what they're going to tell us next, that we're trading against bots?

Posted: 3/24/2019 1:39:54 AM EST

[#24]

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I could never believe in computer money.

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Quoted:
bitcoin is fake money anyway.

I could never believe in computer money.

Maybe, but I was able to change mine into real money.

Posted: 3/24/2019 1:44:36 AM EST

[#25]

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USD ~~bitcoin~~ is fake money anyway.

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FIFY..

Posted: 3/24/2019 1:45:55 AM EST

[#26]

Not surprising at all. A lot of the exchanges are set up poorly.

Posted: 3/24/2019 1:46:54 AM EST

[#27]

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Maybe, but I was able to change mine into real money.

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Quoted:
bitcoin is fake money anyway.

I could never believe in computer money.

Maybe, but I was able to change mine into real money.

Yep. And now I play in forex.

Posted: 3/24/2019 2:56:35 AM EST

[#28]

Attached File

Posted: 3/24/2019 2:59:54 AM EST

[#29]

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I love how bitcoin nerds hate the thought of using a physical fiat currency backed by an actual economy. They prefer a fiat currency that requires internet access, can't be accessed during a long term power outage, and is backed by the full faith and credit of 4chan.

And then they think it is somehow "off the grid" and going to protect them from the government tracking their purchases and seizing their assets. The same government that literally controls internet access and wireless bands. Gonna be kind of tough to initiate plan bitcoin bug out if the deep state Rothschild money control conspiracy was true after all and they simply block consumer access to the internet like North Korea.

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Ever heard of a 51% attack? Well, almost 3/4 of bitcoin mining happens in an authoritarian, panopticon prison state.

https://bitcoinmagazine.com/articles/report-links-74-bitcoin-mining-china-sees-threat-network/

Posted: 3/24/2019 3:25:46 AM EST

[#30]

I bought $20 just to set up a wallet/see the process in action. It took at least 20min for the order to go through.

No bs there....

Posted: 3/24/2019 3:38:02 AM EST

[#31]

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Maybe, but I was able to change mine into real money.

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Quoted:
bitcoin is fake money anyway.

I could never believe in computer money.

Maybe, but I was able to change mine into real money.

If you believe in it, why change it to real money?

Posted: 3/24/2019 3:46:05 AM EST

[#32]

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I could never believe in computer money.

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The federal reserve prints computer money. Its not like in the old movie called Brazil where they imagined a future beurocracy powered by armies of people putting paper into filing machines

Posted: 3/24/2019 3:59:30 AM EST

[#33]

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bitcoin is fake money anyway.

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and yet you can buy real things with it

Posted: 3/24/2019 4:03:18 AM EST

[#34]

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and yet you can buy real things with it

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Quoted:
bitcoin is fake money anyway.

and yet you can buy real things with it

but I can't buy real things with monopoly money.... what gives? So bitcoin is real fake money?

Posted: 3/24/2019 4:03:32 AM EST

[#35]

There was at least one arfcommer that sold when bitcoin hit it's high a year or two back and he made a shitload of money.

Posted: 3/24/2019 4:04:53 AM EST

[#36]

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There was at least one arfcommer that sold when bitcoin hit it's high a year or two back and he made a shitload of money.

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no no, he made fake money, he couldn't possibly use it other then for a board game

Posted: 3/24/2019 5:19:43 AM EST

[#37]

I made a good chunk of change from bitcoin that I was able to cash out.

Posted: 3/24/2019 5:43:48 AM EST

[#38]

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Quoted:
bitcoin is fake money anyway.

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Posted: 3/24/2019 5:45:45 AM EST

[#39]

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There was at least one arfcommer that sold when bitcoin hit it's high a year or two back and he made a shitload of money.

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Did hey pay his capital gains taxes?

Posted: 3/24/2019 5:52:13 AM EST

[#40]

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https://www.AR15.Com/media/mediaFiles/214740/8AC7D160-2769-4D04-87FA-8E0FC56FD5AD_jpeg-888283.JPG

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Lol

Posted: 3/24/2019 5:53:01 AM EST

[#41]

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There was at least one arfcommer that sold when bitcoin hit it's high a year or two back and he made a shitload of money.

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You mean the guy who disappeared?

Posted: 3/24/2019 5:53:54 AM EST

[#42]

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Did hey pay his capital gains taxes?

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Quoted:
There was at least one arfcommer that sold when bitcoin hit it's high a year or two back and he made a shitload of money.

Did hey pay his capital gains taxes?

Who cares, are you the IRS lol

Posted: 3/24/2019 5:56:13 AM EST

[#43]

It's shitty Chinese exchanges faking wash trades so they can try and claim to the #1 in trade volume. It doesn't really impact the price, and the reported trade volume is so absurdly high that no one believes it. There were not Eth trades equal to 25% of the total supply in the past 24 hours.

Posted: 3/24/2019 6:16:00 AM EST

[#44]

I have no idea how any of this works though I do have a work colleague that made a lot (a lot) or money....as in the high 10's of M's with crypto. He was in it back in 2010, IIRC when it was a few dollars and sold when it was in the $1000's. Last I heard he started a water purification company.

Posted: 3/24/2019 6:55:16 AM EST

[#45]

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What exactly does an exchange faking volume have to do with bitcoin itself?

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What exactly does an exchange faking volume have to do with bitcoin itself?

I know you're question is rhetorical, but the answer is below for the naysayers.

Quoted:
It's shitty Chinese exchanges faking wash trades so they can try and claim to the #1 in trade volume. It doesn't really impact anything.

For the naysayers that think crypto is dead.

https://mobile.reuters.com/article/amp

https://www.cnbc.com/amp/2019/03/08/fidelitys-new-cryptocurrency-company-is-up-and-running-despite-a-bear-mark

https://ethereumworldnews.com/bitmain-bitcoin-mining-launch-china-2019/

Quoted:

Quoted:

Yes, because a 2-1/2" x 6" piece of paper has "real value" that you can believe in.

It has the power of "if other countries stop trading in it we will kill a bunch of their people and break a bunch of their shit". So there is that...

It's also deflationary.

Posted: 3/24/2019 6:56:30 AM EST

[#46]

LOL.... YOU DONT SAY

Posted: 3/24/2019 7:04:46 AM EST

[#47]

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You mean the guy who disappeared?

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I think he got banned

Posted: 3/24/2019 7:26:29 AM EST

[#48]

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I could never believe in computer money.

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that’s what the dollar is mostly

Posted: 3/24/2019 7:36:47 AM EST

[#49]

I dont get the naysayers. You have a board full of people that talk about the tree of liberty but love magic government endorsed money that effectively steals from them at the rate of inflation just to keep the authoritarian police state funded.

Posted: 3/24/2019 7:38:35 AM EST

[#50]

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Ever heard of a 51% attack? Well, almost 3/4 of bitcoin mining happens in an authoritarian, panopticon prison state.

https://bitcoinmagazine.com/articles/report-links-74-bitcoin-mining-china-sees-threat-network/

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Quote History

Quoted:

Quoted:

I love how bitcoin nerds hate the thought of using a physical fiat currency backed by an actual economy. They prefer a fiat currency that requires internet access, can't be accessed during a long term power outage, and is backed by the full faith and credit of 4chan.

And then they think it is somehow "off the grid" and going to protect them from the government tracking their purchases and seizing their assets. The same government that literally controls internet access and wireless bands. Gonna be kind of tough to initiate plan bitcoin bug out if the deep state Rothschild money control conspiracy was true after all and they simply block consumer access to the internet like North Korea.

Ever heard of a 51% attack? Well, almost 3/4 of bitcoin mining happens in an authoritarian, panopticon prison state.

https://bitcoinmagazine.com/articles/report-links-74-bitcoin-mining-china-sees-threat-network/

It doesn’t really work that way.

[ARCHIVED THREAD] - Majority of bitcoin trading is a hoax, new study finds (Page 1 of 3)

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