Like if he collected a ton of it from orders and then decided to sell it strategically to lower the price a ton, then buy it again once the price is lower? Is that even how it works?
Posted May 4, 2017, 8:29 AM UTC
As he started buying it back, the price would rise again - meaning he would be spending what he made selling it to buy it back haha, since supply and demand is what changes the BTC price, the bid ask spread determines price, similar to the conventional capital markets (stocks, futures, etc)
Yeah that makes sense. Him encouraging others to buy also probably helps. He did seem to know about Coinbase adding ltc ahead of time too
Litecoin's market cap is around 1 billion. I don't think g0d has much of an effect on its price (unless he dumps millions into his supply).
Edit: Effect, not affect...
not a chance
I dunno man, but Im about to invest
Technically, he could, if people outside of this sub knew about it. But because this ltc thing seems to be a sub only thing, i'd say no.
Around $200m traded each day. If he made 500k on a promo then he would control 0.5%. Long term no, but short term by the hour he can pump/dump like crazy