I just finished reading a lengthy article from BitCrypto'ed over at https://medium.com/@bitfinexed/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4 and it sure sounds scarry.
I will not copy over his complete article but recommend you have a read before you share your thoughts below.
One person that I would especially love to hear his thoughts on the manipulation of Bitcoin, Ether, Bitfinex & Tether is the Dollar Vigilante, Jeff Berwick, @dollarvigilante. :)
Will the Bitcoin / Altcoin community find a way to stop the manipulation? I certainly hope so.
It's amazing to see competing algorithms go off at once during high volume trade times on gdax. Watching orders appear, disappear, then reappear above and below market price at inhuman speeds can frighten the regular small time trader into a trade that works against him/her.
the unfortunate reality that billionaires still have control (this might be around for a small while - but the distribution model will eliminate this problem in the future)
In the end, I hope that we the people can get control over this by avoiding exchanges that allow removing a placed order.
All placed orders should be final, that way at least part of this problem would be solved.
Right?
meep
Thanks for sharing this. It's a shame how the rich manipulates the market for their own greedy gains :-(