RE: Is what WolfOfPoloniex Doing Illegal?
Also, @rcdaut, to educate you on Market Manipulation,
Trading based off of TA speculation is NOT market manipulation. It is PURELY speculation. At any time, a giant whale could just come in and dump on the market or could pump the market. ORRRR the market could simply continue being bullish and break through any speculation I am trading off of. Daytraders use these patterns and analysis to speculate on how the markets will move, however, it is NEVER certain or guaranteed.
A perfect example of what IS market manipulation is JPMorgan's Jamie or Jihan Wu's 'hard-fork' manipulative stunts. These characters publicly made statements to cause panic and drop the market price with absolutely no TA or backings behind anything... and then later did the exact opposite.
JPMorgan bought XBT for their clients, even though their Chief Executive stated that it is a fraud and anyone trading it will get fired.
Jihan Wu stated he was going to hard-fork bitcoin, which crashed the markets... and then randomly started signaling for the BIP91 Soft-fork.
Please go read a book and learn before you start wars within the community. What you are trying to say is that basically ANYONE that gives out ANY sort of 'calls', 'signals', 'advice', or even CHARTS is basically guilty of market manipulation... within an unregulated market.
Respectfully,
-Wolf
Was gonna DM you because the more I hear you rant, the more I’m convinced you truly don’t believe this is wrong and think you did nothing wrong, but I'll post publicly as you posted publicly. I obviously have the other opinion (as do many of the smart traders/investors I’m asking about this), so we’ll never reach consensus. I’ll just leave my opinion here, you can take it for what you will, and I’ll quit posting about it.
I know TA extensively, which is why I find it all so troubling, and think your points about TA are only strengthening my case. The reason is because you worked with a huge group (~750 people) to create the illusion of a technical setup to get other traders outside of your group in. Combining the private pump with the public pump, then forcing the price into an upward channel by controlling when the entire group buys/sells is market manipulation, straight from the definition of it.
This is different from posting a picture of TA and letting followers figure it out. You know the influence you have over that group, and you know by telling people in the group to buy you are CREATING the indicators which people then buy/sell off of.
Taking a step back from just you doing it and focusing on the bigger picture of groups manipulating breakouts, there isn't anything that can be done to stop it in an unregulated free market, the only solution is for everyone to act as ethically as they can. That obviously puts people in a prisoner's dilemma where it is more profitable for defectors to act unethically, but you are making enough money from your group that you can afford to be completely above reproach. Let's just go our separate ways, you take what I wrote to heart, and try to be better.
Of course what Jihan/Dimon did is also manipulation, and what they did is actually illegal (spreading FUD is against the law) whereas this seems to be a legal gray area although it’s certainly frowned upon. It sucks we have no power to stop any of it, but decentralization has it's pros and cons.
I sincerely wish you and your followers GL.
"Shilling" aka spreading exposure about a catalyst / event / news is common, legal and completely ethical. I'm not making people pump into a coin, I'm simply spreading exposure to news that is coming out to a certain coin and back it with sources + evidence. Usually people buy in, because it sounds good. If it didn't sound good, I wouldn't fucking buy into it.. duh. I am not a low-cap 'Pump & Dump' manipulator as you try to make me look like.
People & groups trade, all the time, together. Whalepool, ETHTrader, Twitter, Facebook Groups, etc. This is not illegal. Simply because I tell people how to 'ride the waves' doesn't mean that I am FORCING them to make those orders. Everything is ALWAYS 'Trade at your own risk'. I have no physical control over people's trades within my group. I am simply educating them on how to trade and move the markets. Also, if you look back @ time and look at the charts, the TA didn't even fill out on MTL. So you're a fucking retard for even trying to use that example. It just strengthens my position and makes you look like the tool that you are.
Maybe you should take a step back and just realize how fucking retarded your article is. Instead of going after REAL scam artists and scumbags, you come after me.... a fucking 'White Knight' of the community.
I'm also being rude in this article because I just uncovered that you, yourself, were BANNED from high-stakes FF leagues for unethical practices.
You truly are a complete piece of shit.
Fuck you,
-Wolf
P.S. I'm spreading this shit everywhere.
https://rotogrinders.com/threads/daut44-makeitrain84-allegedly-colluding-in-milly-maker-to-have-300-entries-1371841
Some guy who had a vendetta against me called me out, draftkings investigated, and said we were in the clear. Be my guest. I was never banned for it, never given a slap on the wrist, and it's not like I went to prison for any wrongdoing I was a part of. It was a commonplace practice that many did, that afterwards we changed due to public opinion. Just like what you're doing here.
Your scheme failing to work is not indicative of it being right or wrong. You tried to manipulate how the charts looked, failed, and the price didn't do what you attempted.
I'll just leave this here one last time:
Again, the more I hear you talk, the more it sounds like you don't actually think it was wrong. So again, I'm giving you the benefit of the doubt, and just leaving you with my, and other smart trader/investors opinion on the matter.