Hacker News new | comments | ask | show | jobs | submit login

Price surge is in direct correlation with Winklevoss "Gemini" exchange going online on October 8th. https://gemini.com/

This chart shows the price surge starting the exact same day Gemini went online: http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzm1g10zm...

I really hope this is genuine growth, but I have a sneaking suspicion it could be partially due to market manipulation by Gemini. The Winklevoss twins have a lot of money riding on this play.




Your claim is really US-centric. Most of the exchange's volume right now is from China. China is driving this and I don't see how an american-bank-only exchange would be the main reason, if there is one.


I guess no one remembers MTGOX and the Willy bot.

I'll take my down-votes in stride.

Only the future will reveal the truth.


Of course they do. The volume required to do Willy-style manipulation is far greater than what is occurring on Gemini.


No it isn't.

Volume on Gemini is miniscule, less than 1% of the chinese exchanges.


The suggestion that it is market manipulation by the Winklevosses related to Gemini doesn't mean that its a result of action on Gemini; an effort to use existing exchanges that can support the volume to drive Bitcoin in a way that would increase public perception of the attractiveness of Bitcoin to position the sales pitch for Gemini as a "grown up" exchange isn't entirely unthinkable.

Not that I think its likely, mind you, just that "the action isn't on Gemini" isn't sufficient to rebut that the movement is related to Gemini. I think, though, that MMM still seems likely to explain more of it, and other China-specific conditions may explain more of the China-focused movement. Manipulation around Gemini, while not inconceivable, seems to be a bit more of a leap from the evidence available.


Thank you.

I also think it's fairly unlikely, but the data points are there.

Causation versus correlation, I know. Probably it's part coincidence / part overall good press. I just found it odd that run-up started the exact day Gemini opened.




Guidelines | FAQ | Support | API | Security | Lists | Bookmarklet | Legal | Apply to YC | Contact

Search: