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Make some money as a whale

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Tintin

I am sure some of you own a lot of LTBc, here is one strategy to make a killing(succes not guaranteed): First move all your coins to an exchange, poloniex for example, you will need about 0.5M first, and maybe another half million coins later.

Sell the first half to push the price down hard, then set a huge sell wall to keep the price there. Then spread some FUD on the forums and maybe you can unchain a snowball effect to take it even lower. Next you offer to take some of those coins of peoples hands off-exchange, possible for a 'better' rate. You are actually buying back those coins for a lower rate.( you cannot do this on the exchange because then you would be where you started, price is pushed up equally). Lastly you remove the sellwall, and price shoots up like a spring. (since nothing actually changed for the coin, you expect the market to recover over time).

Finally you sell your bag of coins OTC, not to push the price down massively again.

Only loser is the one selling his coins OTC for a discount.

Possible problems: It is possible that your sellwall will not hold, quickly add more coins. For example buy them from melotic and dump on poloniex or buy more OTC. Maybe you run into problems buying and selling OTC, maybe no one will buy or sell except at the exchanges. So it remains pretty risky.

2 likes
  • cryptozio

    Nice strategy to buy cheap coins, we have seen something similar in the bitcoin market recently :P

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  • Cut

    its was agreat info for trading

    i think we must use this strategy i hope i'll not be aloser lol

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  • CoinAdd1ct

    If you are just learning about market manipulation thought this post then my advice is don't try it. It may seem simple, but there are many sharks in the waters that play this game every day. You will lose.

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  • sehnbio

    I don't think that there are several LTB coin whales out there, but if someone has really invested a great amount of money in this coin he should already know how to manipulate the market.

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  • Tintin

    I am just posting this out here for fun and to inform people, keep in mind it is very risky. So try at your own risk!

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  • jamesmm

    Yeah, let me know how that works out for you. I could wait for a meteor to fall in my backyard and sell it for millions.

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  • djnocide

    Happen with a lot of coins, best way to do this is if you have a little team with you. bigger effect (one person per big exchange).

    it's sad that price can be manipulated that easily.

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  • rouf553

    Lot of people knows this technique. It is risky now.

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  • Alchemix

    @coinadd1ct If you are just learning about market manipulation thought this post then my advice is don't try it. It may seem simple, but there are many sharks in the waters that play this game every day. You will lose.

    Agree 100% with @coinadd1ct here. This is really a "manipulation 101" technique and should be avoided by the avg user...

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  • CoinAdd1ct

    @alchemix

    @coinadd1ct If you are just learning about market manipulation thought this post then my advice is don't try it. It may seem simple, but there are many sharks in the waters that play this game every day. You will lose.

    Agree 100% with @coinadd1ct here. This is really a "manipulation 101" technique and should be avoided by the avg user...

    I set my mind about learning to day trade and spent 3 months doing so full time. I spent hundreds of hours learning and researching, watching charts, and trading. In the end, I decided it was not worth it.

    Now I buy and hold. Though I will be looking for the next peak. In any case, I'm in it for the long haul baby ;)

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