SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by iaw on Friday March 10, 2017 @05:23PM (#13842692)

When the Winklevoss twins became aware of BTC (or at least shortly after they started talking about it publicly), some classic market manipulation ploys began appearing.

It could be coincidental, but I've always been suspicious that the Winklevoss twins were the first people of a mind and with the capital to start gaming the BTC market as one can any other financial institution.

The Winklevii are not people I'd like to distantly do business with.

Edit: I'm trying to find articles but it was years ago. What I recall were cycles of Ramps and Bear Raids. https://en.wikipedia.org/wiki/Market_manipulation

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by bbcbasic on Friday March 10, 2017 @05:45PM (#13842825)

> some classic market manipulation ploys began appearing

Cryptocoin markets are a haven for scams and manipulations. When I was into it I was hearing of a new scam almost every week. I don't think there is any correlation with Winklevoss let alone causation. Unless you have some evidence or references to present?

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by leakybit on Friday March 10, 2017 @06:51PM (#13843166)

So I guess it's no different than the stock market.

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by askmike on Friday March 10, 2017 @07:28PM (#13843354)

Very different actually, the stock markets are highly regulated. If you get caught dealing with penny stocks or insider trading you go to jail. One of the reasons the SEC didn't approve this ETF was because of the lack of regulation on exchanges.

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by djrogers on Friday March 10, 2017 @06:02PM (#13842906)

> some classic market manipulation ploys began appearing.

Citation? Not disagreeing - I have no knowledge either way, but this is about as useless a statement as one can imagine without backup.

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by noja on Friday March 10, 2017 @05:29PM (#13842738)

Can you go into more detail on what kinds of market manipulation ploys exist?

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by socialist_coder on Friday March 10, 2017 @07:32PM (#13843368)

Buy coins, create positive news & watch the price go up, sell coins at the new high.

Sell coins, create negative news & watch the price go down, buy coins at the new low.

Same as what unscrupulous people have been doing since the beginning of commerce.

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by sneak on Saturday March 11, 2017 @12:21AM (#13844360)

Back when bitcoin was pennies, I bought BTC and then listed a bunch of nonexistent desirable drugs shipping from a convenient location for sale on the silk road, then dumped the BTC a few cents higher, without ever taking an order.

I only made a few bucks, but I was curious if it were possible then to move such a tiny market. It was.

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by pierrepoutine on Saturday March 11, 2017 @05:27AM (#13845005)

i'll send you some doge coin for those drugs

[ Parent | on HN ]

Re:SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund ... by ericjang on Friday March 10, 2017 @05:27PM (#13842723)

I almost read that as Wink-evil. https://en.wikipedia.org/wiki/Priming_(psychology)

[ Parent | on HN ]