how many of you have not yet realized Bitfinex and Bitmex are in full control of the market?
I'm not talking about the peons who trade there i'm talking about the people who run the exchanges. All they are doing is moving the price up and down just enough to liquidate high value accounts.
We go sideways for 4 hours? The next up or down movement will be based on whichever way can provide more profit for the exchanges via liquidation.
Why do you think the market always swings the opposite way of the current collective sentiment? You are all being gamed by fraudulent volume.
bitfinex is fine, this bitmex shit is retarded though I swear all these new exchanges are scummy as fuck. There was nothing wrong with bittrex, kraken, gdax, bitfinex, etc. Binance is pure cancer.
Luke Brown
I know it seems tinfoil as fuck but i'll gladly listen to anyone who thinks they can prove me wrong.
They make an absolute fuck-ton slaying these 1mil+ XBT accounts multiple times a day. Nevermind the fact that it is really easy for them to do as we teeter right around 10k.
Liam Hall
>how many of you have not yet realized Bitfinex and Bitmex are in full control of the market? That would make sense, they do the most volume. What a fucking surprise.
Andrew Brooks
Yeah, fake volume.
Charles Lee
Did you get rekt cry baby fuck off
Bentley Martin
OP is right, for months bitmex members have noticed how the prices of contracts swing - it will always swing enough to liquidate as many shorts as possible before bouncing back, a lot of times these movements don't even correlate to btc's movements. bitmex makes millions this way.
Grayson Mitchell
I like Binance. What’s your problem with them?
Joshua Thomas
Why don't they allow US citizens anyways? Is it to protect themselves from US laws?
Ryder Watson
you might actually be on to something. the fact that the cryto-sphere is completely out of reach of regulatory oversight means that if the exchanges can do this - and they can - then they will. this is why we need regualtion, strange as that may seem.
Nathaniel Nelson
It’s pure cancer. Can’t you fucking read?!?!
Bentley Jackson
whose jurisdiction do they fall under?
file some criminal complaints against them. crypto needs to be rid of scammers.
Charles Foster
You know there are some really big players that make a ton of profit of of BitMex? Also BitMex doesn't get its profit on liquidations, those are paid out to profitable trades. Cope harder.
Use 5x leverage and you're fine. Higher than finex but low enough to be out of reach of the mex liq machine. People that use high lev are gambling and I don't feel too bad that they get liq'd.
Lincoln Sanchez
Surely people are starting to realize these wild, unusual swings are based on something other than good/bad news. I just feel bad for newcomers who are completely oblivious and think we are dealing with a natural market. Of course. These 2 exchanges' volume should not be valid on CMC.
Completely agreed. We won't see an organic system until then.
Isaac Campbell
I'm done with Bitmex. You can get several targets in a row hit but all it takes is one unexpected bullrun to fuck you over. Not worth it.
Also it's pretty much possible that the Mt.Gox trustee might load up market dumps on one exchange and then simultaneously load up on bigly leveraged shorts on Bitmex. He might also be in contact with Bitmex managers so the longs his dumps liquidate get Bitmex paid while the trustee reaps in profits too.
Just like there is fake BTC volume, there will be fraudulent XBT volume.
I've done very well in crypto and do not touch margin trading. I move in and out as quickly as possible. HODL truly is just a meme in this current market.
Elijah Brown
corecuck detected
Wyatt Rogers
OP you really dont have any idea how this all works exchanges are just fronts for OTC trading becuase exchanges cant handle OTC volume
Nicholas King
We see less of this when we are further away from the 10k mark. Especially now for instance:
We get passed 11k and everything is looking set up for a bull run to 20k+.... time to liquidate the numerous longs that are CONFIDENT we can only go up based on current momentum.
We go below 9000, this is SURELY going to keep down.... queue the short liquidations and bring it back just above 10k.
It wouldn't surprise me if we see this same movement over the next few months at the very least. They are making an absolute killing.
Joseph Nelson
You may be correct but that's not really the situation i'm presenting in this thread.
Juan Moore
Bitmex is the HEART of crypto
Chase Carter
damn dude, you just put into words what I've been feeling for weeks. they're intentionally holding us in limbo, playing the bulls and the bears like a fiddle. It's fair to say the majority of anons are at a net loss after this buttfucking bitcoin is undergoing. I think we all know who ends up with all those winnings.
Alexander Perry
The other threads ive posted get the same reaction - it's a "feeling". I can't prove any of it obviously but I think it's getting pretty obvious. More and more people are waking up to it to be honest.
Once I came to the conclusion that this is how it all works I really lost any kind of lust for trading. It's downright depressing.
>use high leverage without having any idea of what you're doing >get liquidated like a retard >"i-it's the exchange's fault!!!!" are you a roastie by any chance, OP?
Sebastian Watson
If you would have read through my posts you would see I do not margin trade. Not to mention all of the sites that offer it are country-blocked.
They would get shut down in a second if they had to comply with our laws.
Angel Ortiz
Oooo I had the same feeling when my massive stacks got liquidated right on every fucking bottom!!! I'm a stupid double up kind of idiot and this shit happened 3 times!!! Absolutely wrecked beyond recognition. DED
you've mixed up cause and effect, BECAUSE nobody is buying/selling the price is stable
Christopher Smith
faking volume in a public ledger is harder to do than you'd think... take a statistics class my dude. OkEX is a prime example of what shitty fake volume looks like.
Levi Perry
The exchanges doing it have had lots of practice, plus there is a small amount of legit volume being mixed in. The vast majority is fraudulent though.
Jaxson Diaz
crypto currency trading as a whole is too easy to frame however they fucking please as the real monetary value in it, is but a joke
literally the only thing that drove BTC over 2000 was manipulation ... insane how far people are willing to take it and apparently the feds are kinda cool?
blockchain is here to stay, likely in its worst possible application but crypto currencies? the slow axe is coming for them - it will be an outright bust
till then ride this thing until the wheels fall off ...
I've made some really good money but as I stated earlier in the thread a lot of these newcomers are showing up thinking they are buying into some natural, be it hyped, market.
I think the good ole days are gone. Ride the hype of new coins and get the hell back to tether or fiat as soon as you can. True utility and privacy coins are likely to hold their grounds, at least a few of them. Most of the "currency" coins will get eaten alive minus maybe this new line of DAG coins like Nano, who will see major hype as adoption for it picks up.
again Mortals, you defy the gods? I sentence you to travel among unknown stars. Until you find the Kingdom of Hades, your bodies will stay as lifeless as stone. youtube.com/watch?v=OZ4c1X5ene8
Robert Brooks
If you borrow money from an exchange to go long go long or short youre asking for it
Nathaniel Gutierrez
I trade the mex delta against index and profit from the snap back it's a scummy way to live but gotta jew the jews
Jackson Parker
What do you mean by this tripfriend?
Parker Adams
Bitfinex - shady bullshit requiring high amount to open. I keep most coins out of exchanges, I'm not trusting that future exit scamming Gox 2.0 for a second.
GDAX - Kek, 4 pairs? Stop me now.
Kraken - 1 year and my accounts STILL not opened.
Bittrex - Ok I guess, pretty dated interface. I trade there when something I want isn't on Binance. But it's a burger exchange, so expect raping by the "freedumbs" provided by the corrupt US govt at any moment looking for "muh terrirists".
So yeah, you'd best be trolling about how great those exchanges are vs Binance.
when btc goes full on bull, only a fucking brainlet wouldn't long with at least x2 "oh shit btc goes to 5k" yeah, ok. at that point we are all fucked but you have 50% left to buy the catastrophe
Henry Wright
Contract trading. You can short (and leverage) to profit in a downmove.
Jacob Anderson
Yes. But this is an unregulated market - and on the whole the manipulation is fucking obvious. So we don't give a shit unless we just got rekt in a bad position.
Ian Wright
How do people pretend this is a serious market when every cheap hustle from the 1920 stock manipulation playbook is fair game. It's insane.
Nathaniel Evans
uhm.. nevermind the fact that nobody is actually using any shitcoin, at all
Hudson Evans
What is this green dialog, and how do I prevent it from showing up? It makes it hard to work with the chart on BitMEX when it keeps popping in front of my work.
>Bitfinex and Bitmex are in full control of the market GTFO OP, this is Veeky Forums. We only make claims that are backed by evidence here.
Evan Martinez
Pretty girl.
Angel Barnes
>BitMex doesn't get its profit on liquidations, those are paid out to profitable trades. This. OP is clueless, he has no idea of how margin trade works.
John Powell
Holy shit, the absolute state of Veeky Forums.
This.
Leo Sanders
but $2000 BTC isn't high. You don't have to buy whole BTC, this isn't the stockmarket
