selling into his own buy orders or vice versa. According to the original Medium post outlining the existence of Spoofy, the trading group has up to 60 million on the exchange. Spoofy has massive sums of both fiat and Bitcoin on that geld verdienen mit logo ersellung exchange, and is likely one of the only traders who does. Is he just a ghost story whispered of by grizzled traders? Not just Bitfinex, spoofys activity also drives the price on other exchanges, as arbitrage takes place. This is not all that uncommon, but it is may have been a prelude to something bigger going on behind the scenes. While Spoofy is certainly exercising outsized control over the Bitcoin price, it is uncertain how much of an affect this is having on the markets. The reason this group is known as Spoofy is because they often place orders which are never intended to execute in the first place.
Single Trader with Enormous Bankroll
Who is Spoofy, and How is He Manipulating
How a Single entity dominates the
Bitcoin Wrestles With a Trader Called Spoofy
Mysterious Trader With Nearly Unlimited
Spoofy is a trader -or group of users- who mainly operate on Bitfinex. They place large bids for. Bitcoin, which are used to manipulate the price. This story is about a trader, or a group of traders, or possibly even Bitfinex themselves manipulates the price of, bitcoin. The past few months Ive slowly collected screenshots of a trader I like to call.
Placing asks or bids for your own bitcoins is apparently illegal in the United States. Bitcoin Cash, it initially planned to distribute Bitcoin Cash to holders of short positions. The large number of shorts on Bitfinex also led many to believe that an epic short squeeze was coming, and many Bitcoin traders purchase coins in expectation of this. One peculiar aspect about that process was how the company successfully redeemed over 90 of all outstanding IOU balances simultaneously. That being said, there does appear to be some kind of market manipulation afoot. Those issues have been resolved as well without as much as an official explanation by the company. Whether or not Spoofy is real, the practice of spoofing is very real and is already common enough to warrant rulings against it in the traditional stock market. Largely unregulated, cryptocurrency markets are still very much the wild west frontier of finance, a reputation hard to dismiss as exchanges and owners disappear or get arrested with alarming frequency.
This works the other way as well, if the price is rising and users see a 1000 BTC sell order the price will most likely retract. A perfect example of one such order is at 39 seconds, where you can clearly see a 909 BTC order that is sitting there only for manipulation.