@292 what do you think the probability is that Bitfinex is …

Bitfinex is definitely naked shorting BSV. The rest is harder to figure out.

So if people withdraw their BSV en masse that would call their bluff and force them to start buying to cover.

A simple way to make number go up without spending a dime.

Indeed!

I would like to look into this more... How did you form such a strong opinion on this??

They publish their open shorts. And BSV’s almost ever have to cover and close. It’s really only possible if it’s insiders managing the books.

So true, so true...

And collateral for positions = USDT
And Bitfinex = issuer of Tether
And Tether = likely fractionally reserved

== unlimited short interest for BSV manufacturing sell pressure that shouldn't exist... Futures drive spot?

And nearly all traders making price discovery are margin traders. There’s very little spot volume for BSV. The only way to roast the internal market makers who are almost certainly holding the price down is to withdraw a lot of BSV.

Then they cover!

Wow man, understood 🙏

I think I will write about this so non finance can understand

The perp futures market is by definition naked, no?

I don’t think it’s just short interest. It’s like Gox when there was a bot trading coins that didn’t exist. They’re printing paper BSV and selling it to keep the price down hoping that we’ll.... go away???

If the recent reserves report told us anything.

I don't see how that helps on Bitfinex...

Yes, that’s also almost certainly happening.

Sounds like tether sends bitfinex usdt and bitfinex hands over commercial paper 😂😂😂

They've recreated federal reserve + treasury 😂😂😂

Pretty much. I don’t know for sure if this is the case anymore, but for most of its history, all tethers were distributed into the market through Bitfinex anyways.

Good lord - the whole thing stinks so bad... 🤮🤮🤮

We should send thank you letters

Fair call 😂😂😂

#fuckthesuits

They deposited BTC as collateral. BSV kept declining in relation to BSV until recently. There was no pain as the value of the collateral kept increasing. Shorts will only feel pain when BSV moves vs BTC over where it was initially not just up in price

I understand this partly, so an article would be appreciated.

I, too, understand this partly.

I think what it means is the exchanges have been shorting with other peoples BSV... that they don't own..? whales BSV? So, if they can get all the whales to yank BSV simultaneously, bitfinex will have to buy a ton to cover

Because, their shorting scam only works on the premise that large holders on the exchanges only withdraw large sums here and there.. not all at once. Then can shift funds around to cover to a certain point, but if they get asked for A TON of BSV theyre fkd

I doubt they short with other peoples’ BSV.

They probably shot with imaginary BSV.

So much fraud and manipulation...

Always has been. 2017 Dec I got scammed several times day trading. One in particular it was very obvious users funds were being used in a long downtime, while the romanian site owners made trades and made all the profit. Released funds when volatility died

I took a professional trading course, and read countless books on how to be profitable trading years ago.

Once I learned just how corrupt the entire system was, I couldn’t bring myself to play in the markets any more.

I just can’t...

The exchanges provide price *and* volume data. Thus, tools like CMF could be used to gauge what’s going on.

However, if $BSV price action is being managed à la Wall Street (ie., trading paper w/o the underlying assets as collateral for the positions) naked; long, or short), Bitfinex and the rest of the exchanges are the least of my concern.

There’s a huge elephant sitting in the room, and no one is really talking about it...

Hint: The exchange/brokerage does not provide digital currency volume data to their customers.

Robinhood has amassed a customer base that dwarfs their competition, and their equities/crypto/liquidity book is undoubtedly stacked fatter than any other brokerage used by retail traders/investors.

... Oh, and they offer $BSV “trading” for their users.

I wouldn’t be surprised if Robinhood had enough expendable resources to fix $BSV chart, regardless of what volumes and price data you’re seeing on exchanges.

And as I (cryptically) mentioned earlier in this thread, Robinhood doesn’t provide volume data for any cryptocurrencies/digital currencies...

Price only.

Taking all of this into consideration, I’d say Robinhood *might/could be* the best candidate for an über whale capable of buying/selling [any] size, and buying/selling butt-naked.

Robinhood doesn’t provide (any) volume data for $BSV.

Million-dollar question: Does RH possess private keys to the actual asset?

If they don’t provide a digital wallet for their customers, then they don’t have to collateralize diddly-shit.

Shell game.

that circus exchange is fraud.