Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say - The New York Times


21 bookmarks. First posted by aebraddy 9 weeks ago.


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…
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8 weeks ago by johnrclark
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. via Pocket
Pocket 
9 weeks ago by tonyhue
That's how "decentralized" the bitcoin is.
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9 weeks ago by chenyang
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…
from instapaper
9 weeks ago by mjbrej
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…
from instapaper
9 weeks ago by jamies
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.
Pocket 
9 weeks ago by nildram
Researchers say campaign of price manipulation using Tether via Bitfinex may have accounted for at least half of the increase in the price of Bitcoin last year
9 weeks ago by joeo10
Nathaniel Popper:
<p>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 <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3195066">paper released on Wednesday</a> 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.

Many industry players expressed concern at the time that the prices were being pushed up at least partly by activity at Bitfinex, one of the largest and least regulated exchanges in the industry. The exchange, which is registered in the Caribbean with offices in Asia, was subpoenaed by American regulators shortly after articles about the concerns appeared in The New York Times and other publications.

Mr. Griffin looked at the flow of digital tokens going in and out of Bitfinex and identified several distinct patterns that suggest that someone or some people at the exchange successfully worked to push up prices when they sagged at other exchanges.</p>


This implies that lots of people bought bitcoin on faked information; that $20,000 peak now looks dangerously like many people being the greater fools.
bitcoin 
9 weeks ago by charlesarthur
RT : Remember Bitcoin's stratospheric rise in price last year? Yeah, that was manipulated.
from twitter
9 weeks ago by ciphpercoder
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…
from instapaper
9 weeks ago by yudha87
Detailed academic paper finds evidence of manipulation
tether  bitcoin  markets  badtech  bitfinex  fraud 
9 weeks ago by nelson
Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say
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9 weeks ago by stinkingpig
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…
from instapaper
9 weeks ago by AramZS
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.
Archive  ifttt  nyt  op-ed  opinion 
9 weeks ago by odelano
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…
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9 weeks ago by kohlmannj