unixb0y Dave
@blumenkraft did you see today's price crash in #BTC?
blumenkraft Jochen Spalding
@unixb0y this is amazing! wanted to buy but waited. \o/ this time i get the discount!! :D
blumenkraft Jochen Spalding
@unixb0y @ludolphus Mt.Gox trustee did it again. this is the reason for the drop.
unixb0y Dave
@blumenkraft hahaha sure ^^
unixb0y Dave
@blumenkraft oh really? How? @ludolphus
ludolphus SΤΞVΞΠ
@blumenkraft hmmm dropping a load of coins again huh? @unixb0y
blumenkraft Jochen Spalding
@ludolphus 8k coins moved from thay wallet. ^^ @unixb0y
unixb0y Dave
@blumenkraft woww!! that's a lot! @ludolphus
blumenkraft Jochen Spalding
@unixb0y indeed. they claim they do it OTC but somehow it always crashes the market. idk why. perhaps someone who would buy on the open market doesn't do it when they buy from the trustee. or it just became a self-fulfilling prophecy. // @ludolphus
blumenkraft Jochen Spalding
@unixb0y "over the counter" iirc. or was it "off the counter"? anyway, it's when you buy 2p2 without hitting a regualr exchange. it should not affect the market in theory. @ludolphus
blumenkraft Jochen Spalding
@unixb0y Bisq could be considered OFC
unixb0y Dave
@blumenkraft Oh I see. Yes it shouldn't! Basically it's just moving BTC from one wallet to another. @ludolphus
unixb0y Dave
@blumenkraft I'm not sure.. Because in Bisq you create an open offer that anyone can take. This can modify the price / value of a coin. Let's say I offer 1000 BTC for 10€ each on there, the price will massively drop.
unixb0y Dave
@blumenkraft But instead if we do a p2p trade like over E-Mail and it's not open to the public for everyone, that can't really happen. Unless I offer you a huge discount and you go and resell everything on open exchanges for low prices.
blumenkraft Jochen Spalding
@unixb0y why would it? biance don't care what we do here.
unixb0y Dave
@blumenkraft Well because the Bisq users who buy at 10€, go to Binance and sell for 8 grand or so ;)
blumenkraft Jochen Spalding
@unixb0y i could sell it for 8,6k there too. :P but you are right, this way it might dip the market since it's more likely people would sell.
unixb0y Dave
@blumenkraft yeah exactly, this is what might happen with these OTC trades, that the buyer immediately resells on the open market, thus still manipulating the price.