"Price Manipulation In The BITCOIN Ecosystem" PAPER RELEASED

After a turmoil filled week - where Bitcoin, Etherium, Litecoin, Ripple, and other famous cryptocurrencies fell by double digit percentages, a scathing report written by researchers Neil Gandal, JT Hamrick, Tali Oberman, and Tyler Moore was released by the Journal of Monetary Economics on January 2nd 2018, titled "Price Manipulation in the Bitcoin Ecosystem" via ScienceDirect.

In the report, the team highlights instances of price manipulation occurred on the basis of thin markets especially early on during Bitcoin's rise. Even more damning were revelations that price manipulations may have been carried out by TWO bots, Markus and Willy - that seemed to be performing trades without actually owning any Bitcoin themselves. Listed as evidence are transactions carried out during the Mt. Gox hack whereby many, including the two mentioned bots, were able to infiltrate the site and create accounts that made millions and manipulated the price of Bitcoins.

Here is a summary of the revelations made by the authors of the report...

It is imperative that the masses are aware of the inherent risks cryptocurrencies carry - the likelihood that manipulation is occurring (or will occur) is quite high, with some prominent researchers putting that number at over 70%!

I suggest reading the scathing report for yourself, especially when evidence is presented of how ONE individual was responsible for Bitcoin's jump in price from $150 to $1,000!!!

Thanks for reading!

Stay diligent and know the ABC's of Cryptocurrencies

@sonofthesoil