The LTB Network Forum

Manipulate LTC price to win bets

Back to Market Speculation

Comments

Tintin

Offline
Posts: 200
Location: Uranus

Hello,

do this on your own risk

I myself am not a big trader, but here is a method to make some big money if you have big money.

First, open an account at btce, deposit a huge amount of USD or LTC.

Secondly open an account at beastoptions, a binary options betting site. This is normally very risky business, and with this technique it still is!

You can bet up or down, if you know how to predict the future price of litecoin. But you do, since you can manipulate it on btc-e. If you have enough money ofcourse.

So take a call option for example, invest big relative to your manipulation money on btc-e. Then if the price dips down in the timeframe buy up on btc-e to push price up. (beastoptions uses btc-e price, important!). You wait out the 30 minutes and collect your winnings. Then sell your bought up litecoin and repeat. Or use those litecoins to rig a put option.

Let me say this again, this cheating is very risky and I wouldn't do it. But I find it interesting so I thought let's share it with you guys.

Posted on October 22, 2014 at 3:09 AM

1 like

• dora

  

  Offline
  Posts: 141

  Interesting idea, how many bitcoins do you think should be used to manipulate the price?

  Posted on October 22, 2014 at 3:14 AM
  Permalink
  1 like
• just

  

  Offline
  Posts: 75

  Each person's opinion is not the same

  for me ,the price is too hight

  Posted on October 22, 2014 at 3:26 AM
  Permalink
  0 likes
• hotarugrey

  

  Offline
  Posts: 510

  well you need a lots of capital at first to allow you to manipulate the market. at least to penetrate the walls...

  Posted on October 22, 2014 at 3:32 AM
  Permalink
  1 like
• Tintin

  

  Offline
  Posts: 200
  Location: Uranus

  @hotarugrey well you need a lots of capital at first to allow you to manipulate the market. at least to penetrate the walls...

  Yes, but you only need to win by 0.0001Litecoin. This can be acomplished by simply buying up the first sell order. But orders will be added and there are ofcourse other players. So I expect you need a few k $ at least. Then you will need to make a decent profit on beastoptions to make it worth it, you would probably want a few hundred in there at least.

  So it is not a cheap project :).

  Posted on October 22, 2014 at 3:51 AM
  Permalink
  1 like
• maxbest

  

  Offline
  Posts: 64

  This is very risky but the gain could be huge...

  Posted on October 22, 2014 at 5:44 AM
  Permalink
  0 likes
• Alchemix

  

  Offline
  Posts: 175
  Location: Vegas

  @maxbest This is very risky but the gain could be huge...

  So could buying $100 in lotto tickets...

  Interesting idea @Tintin i like the fact that you look for angles. Have you tried this idea out with any amount, and squeezed any profit from it?

  Posted on October 22, 2014 at 10:18 AM
  Permalink
  1 like
• adjiadjo

  

  Offline
  Posts: 99

  interesting method ,

  but yeah , really high risk method.

  Posted on October 22, 2014 at 12:37 PM
  Permalink
  0 likes
• Tintin

  

  Offline
  Posts: 200
  Location: Uranus

  @alchemix

  @maxbest This is very risky but the gain could be huge...

  So could buying $100 in lotto tickets...

  Interesting idea @Tintin i like the fact that you look for angles. Have you tried this idea out with any amount, and squeezed any profit from it?

  I like to look for flaws in the system haha. But I am not going to try this one out, first of all I don't have the money for it. Secondly, you need to go through the process of registering and depositing, verifying etc, takes a lot of time. But maybe someone is out there with the money.

  Or better, maybe there is someone who finds a binary betting site that allows betting on even lower volume markets, like darkcoin or something. That would require less money to move the market.

  Posted on October 22, 2014 at 1:48 PM
  Permalink
  1 like
• Invullx

  

  Offline
  Posts: 281
  Location: Sydney, Australia

  Very risky method indeed.

  Posted on October 22, 2014 at 5:53 PM
  Permalink
  1 like
• William

  

  Offline
  Posts: 308

  I like to look for flaws in the system haha.

  Flaws in the system... The bitcoin world is full of them. Soooo many of them that I've encountered. This is where a lot of money is made (and lost), especially by the whales. Oh, to be a whale!

  Posted on October 22, 2014 at 6:02 PM
  Permalink
  1 like

Post Reply