Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say

JonesBones

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You don't say? New article from New York Times

SAN FRANCISCO — A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets.

The paper by John Griffin, a finance professor at the University of Texas, and Amin Shams, a graduate student, is likely to stoke a debate about how much of Bitcoin’s skyrocketing gain last year was caused by the covert actions of a few big players, rather than real demand from investors.

https://www.nytimes.com/2018/06/13/technology/bitcoin-price-manipulation.html

bitcoin conned humanity.


Tether, one of the most-traded cryptocurrencies, shows a pattern of being spent on Bitcoin at pivotal moments, helping to drive the world’s first digital asset to a record price in December, according to research by a University of Texas professor known for flagging suspicious activity in the VIX benchmark.



“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

https://www.bloomberg.com/news/arti...g-vix-alarm-says-tether-used-to-boost-bitcoin
 
Filing this under no shit Sherlock

Cheers to you who had some and managed to sell in December
 
It's price has always been inflated. The value of a bitcoin should be nothing.
 
I would literally invest more in ghosts then bitcoin.
If you jumped on it years ago and collected then good for you.
 
No doubt crypto currency will take over in the future. I just don't think bitcoin will be the one that wins out. I think we will see a state supported crypto currency and the regulations will kill all the current ones. That's just my opinion so that but much faith in it.
 
It's always been heavily manipulated. From $0.50 to $30 to $300 to $1200 and on and on. Academic paper unnecessary.
 
Shercoin is the future
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It's price has always been inflated. The value of a bitcoin should be nothing.

The value of anything is kind of determined by those that see value in it.

I agree with you in part... I really dont understand why people see value in it. Gold and silver are shiny and have practical uses in building materials, while a bitcoin doesnt really do much
 
The funny thing is, this is only half the bomb that's gonna blow up the market. I warned 'em. I warned 'em all.

Poor Der Eisbar. That dudes never gonna be able to afford all his vegan superfood now.
 
The funny thing is, this is only half the bomb that's gonna blow up the market. I warned 'em. I warned 'em all.

Poor Der Eisbar. That dudes never gonna be able to afford all his vegan superfood now.

Whats the other half?
 
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