From my Experience in FOREX Market, i feel that there is a Steem Market manipulation

in sbd •  2 years ago  (edited)

That's me thinking and analyzing

So i have a theory today about Steemit Market (Buy/Sell - SBD/Steem)

I noticed that somebody on this market is working on purpose to reduce the price of Steem VS SBD.

and that thing has been going on for a while, and repeatedly, i figure it out by the timing of placing orders, and the amounts that are being placed

so they put huge amount in buy orders with separate orders in the SBD with the highest current possible price, and follow it with sequence of less higher price orders.

the second thing he/she/they are doing is the put and order on the Top of the selling orders with lowest price possible

which is resulting of people not buying Offers steem at low price to compete with this offers, and in general price the price of steem goes down.

my huge is that this person have an amount of SBD, and want to transfer it to steem, so instead of direct transfer, they manipulate the price, to get as cheap as possible.

i don't know if there is solution for this, but i just wanted to share this, and the best place to share it is steemit it self.

all i know, that he/she cannot continue doing this, because eventually they will run out of SBD, but the damage is done.

Thanks for reading!!

Please share and upvote if you like my post.

Please fasten your seat belts & prepare for take off!!!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

This is off topic, but do you know Miss MJ? She is a YouTube vlogger and you remind me of her. She is flight crew for Emirates. Here is a link to one of her videos, I think you might like it.

that's not a curly hair, lol (Asian cannot have curly hair "unfortunately")
no i don't know her, i actually work for Qatar Airways, so she is in the same type of work but not a colleague

Great fined, thanks for looking out for Steem!

in cases like this you kinda wish that it's not decentralized and you can report it to someone.
but nothing is perfect.
thanks for the comment and upvote, i appreciate it!!

I agree, this has been going on for quite some time here on steemit. It is pretty predictable too. I never traded forex but traded stocks and crypto for quite some time. some one is making themselves a pretty penny by doing it too.

glad i am not the only one who noticed

There is a lot of funny business going on in this platform. Sometimes I am not sure if the whole decentralized idea is a good idea. I started powering down because of this reason.

I am also planning to power down soon if the BS doesn’t stop

Thank you for sharing...will have to make some time to check out this exchange platform...upvoted and sharing.

Nice analysis


I hope and think that the markets will restore themselves. If the daily market volume will rise a few times his or her chances are over. A dutch saying is (translated) , who digs a hole for another, falls in themselves. Lets hope so :)

actually, he or she will be lucky if the market goes up, because they already bought a lot of steem, more then 10K.

so if the market went back to 1.25, he or she will be making about $2,000

Thats also a good one. Well if he or she puts the money back into steem hopefully I wouldnt mind

i don't think that is the case, i think they will cash out the profit and keep playing with the original investment.
that's what i would do!

True that. I aint a large holder of cryptos but ive exchanged everything into steem power. Im thinkink of investing in 1 other coin. I was a big fan of verge but im doubting now.

just ride with theme haha

you need to be very rich to do that!!

Interesting analysis. I think this a major problem with cryptos in general nowadays. Thank you for sharing. @originalworks

The @OriginalWorks bot has determined this post by @eyesonsky to be original material and upvoted it!

To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!

To enter this post into the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!

For more information, Click Here! || Click here to participate in the @OriginalWorks sponsored writing contest(125 SBD in prizes)!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!

in steemit, it's not a big deal, trading volume is not so big,
i think someone with a sufficient amount of money, can stop such manipulation very easily.

  ·  2 years ago Reveal Comment

This kinda thing is bad for creative content creators such as myself. I havd very little understanding of the financial side of this stuff. I just came here to make great content. But obviously this upvote/coin system was part of the attraction. :(

Interesting, I'm no expert in trading and even less in trading crypto would this practice be deemed illegal if been conducted through regulated channels in the US/UK

Upvoted & Followed :)

Cool nice one you have a point... And you look hundred 💯 percent beautiful by the way

Thank you very much!!

This post has been ranked within the top 50 most undervalued posts in the second half of Oct 09. We estimate that this post is undervalued by $16.63 as compared to a scenario in which every voter had an equal say.

See the full rankings and details in The Daily Tribune: Oct 09 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.

If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

Locked and loaded! VamoS! 😁

are you commenting on the topic or me?

I would be definitely commenting on you :P

  ·  2 years ago (edited)

On the topic of course and in particular

'Please fasten your seat belts & prepare for take off!!!

  ·  2 years ago Reveal Comment

well to be honest, i am not expert with cryptocurrency, but i have good FOREX background, and that was market manipulation for sure..
i don't know what is DDoS attacks, sorry to disappoint you
thanks for the follow and upvote

DDoS attacks are Distributed Denial of Service attacks. Basically you convince (infect) a lot of computers around the world from very different Service Providers to coordinate and flood a target server all at the same time, if you have enough collective bandwidth from the infected machines, the server's internet connection overflows with crap, and it can't access the internet until the attack is mitigated.

Simplest explanation i have ever heard

Thanks brother! I like to try and keep it simple =)

For sure something fishy is going on for a while

Your post was resteem by Whale ResteemService @booster007

Keep it up!
All the best!

Congratulations @eyesonsky!
Your post was mentioned in the hit parade in the following category:

  • Comments - Ranked 6 with 39 comments

Market manipulation is rife in the unregulated crypto space. So, you're not crazy, but completely on point. I just posted about this and possible future outcomes if you're curious Good post and thanks for contributing!

thanks for your endorsement i

No worries man! Good luck and keep posting!

Congratulations @eyesonsky! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

This is HIGHLY common in ANY market. Those with the power (high vested shares) have a slight edge to manipulate the market in a small but noticeable fashion.

This is the nature of markets and is likely to never change