How can someone make the crypto market crash?

[Nena Trinity]

Hi I am wondering if this crypto currency is crash proof against intended sabotage to make it crash? :3

[Theguywhobea]

Nope, the cryptocurrency market is one step away from some kid microwaving his moms laptop and it's all over

[Nena Trinity]

2 minutes ago, Theguywhobea said:

Nope, the cryptocurrency market is one step away from some kid microwaving his moms laptop and it's all over

Then everyone should sell their coins now! O3O

[Himommies]

Are you asking how to crash it

 

[Theguywhobea]

Just now, Nena360 said:

Then everyone should sell their coins now! O3O

Yeah, they should really make the whole thing not entirely dependent on one kids moms laptop

[Nena Trinity]

Just now, Himommies said:

Are you asking how to crash it

 

In theory, probably not doable or else someone would done it right? Ya know like JP Morgan he hates the stuff! :3

[AresKrieger]

If someone where to have a shit ton of money they could make it crash by selling large amounts of it very quickly causing a sell panic and rapidly devauling it, this could also net large profits if done correctly for said individual.

[Himommies]

3 minutes ago, Nena360 said:

In theory, probably not doable or else someone would done it right? Ya know like JP Morgan he hates the stuff! :3

yes it would and it's probaly a bit easier than you think

You can 

A)buy all the currency and then sell

B) convinve pepole that the value is going up so no one spends it

C) convince pepole that it is going to drop so evreyone cashes out

D)hack all the bitcoin wallets

 

[Max_Settings]

Someone is upset they can’t buy graphics cards at regular prices.

[Shreyas1]

Convince some really rich and famous guys to say it's going to crash, and it will

[manikyath]

its like the stock market, in theory if you have a big enough share in anything you can make it crash, but cryptocurrencies are volatile enough to quickly bounce back. (as in, once the price tanks, there's people right there to buy in.)

[Nena Trinity]

5 minutes ago, AresKrieger said:

If someone where to have a shit ton of money they could make it crash by selling large amounts of it very quickly causing a sell panic and rapidly devauling it, this could also net large profits if done correctly for said individual.

Gamers cannot afford that so their main enemy cannot afford it but JP Morgan and his banksters could...

4 minutes ago, Himommies said:

yes it would and it's probaly a bit easier than you think

You can 

A)buy all the currency

B) convinve pepole that the value is going up so no one spends it

C) convince pepole that it is going to drop so evreyone cashes out

D)hack all the bitcoin wallets

 

I would done A if I was JP Morgan, the mid ones failed before & hack seems most legit now how could a person hack all the wallets and payment records? This damn thing is more of a survivor than a cockroach! O3O

2 minutes ago, Max_Settings said:

Someone is upset they can’t but graphics cards at regular prices.

I can wait to 2070 or Vega 7nm! :3

1 minute ago, Shreyas1 said:

Convince some really rich and famous guys to say it's going to crash, and it will

Like JP Morgan and his bankers? I could have all my enemies destroying each other! >:3

1 minute ago, manikyath said:

its like the stock market, in theory if you have a big enough share in anything you can make it crash, but cryptocurrencies are volatile enough to quickly bounce back. (as in, once the price tanks, there's people right there to buy in.)

Yeah it seems very much indestructible! lol

[Godlygamer23]

3 minutes ago, Max_Settings said:

Someone is upset they can’t buy graphics cards at regular prices.

Wouldn't you be if you were trying to build a gaming PC?

[Anghammarad]

regulations from governments makes cryptos obsolete

losing electricity or internet makes cryptos obsolete as well

 

crash due to speculation on the markets... that happened way too often already even with real stocks.

 

[Nena Trinity]

4 minutes ago, Godlygamer23 said:

Wouldn't you be if you were trying to build a gaming PC?

Or upgrade! :3

2 minutes ago, Anghammarad said:

regulations from governments makes cryptos obsolete

losing electricity or internet makes cryptos obsolete as well

 

crash due to speculation on the markets... that happened way too often already even with real stocks.

 

I hate the government! But I like nature which would be affected by global warming because of all the miners, but the only way to ruin the miners is to work with the bankers which I hate even more... @_@ *I am now lost in a spiral of confusion*

[m0k]

how to make it crash?

create a global power outage preventing anyone from accessing the internet

 

[mariushm]

With a lot of money anything is possible.

 

Here's a strategy..

A lot of coins use networks that can process a fairly limited number of transactions per second, for example in the case of Bitcoin it's something like 2 transactions per second and in the case of Ethereum it's around 12 transactions per second.

So for example, you could just start making transactions between wallets of your own, but agree to pay double or triple the regular amount for transaction fees and then miners would include (mostly) only your transactions in the blockchain and other transactions would fail to be recorded or processed, and people may start selling their stocks if they see the network works so bad... price goes down and you buy loads of coins at low price and then you stop your flood and slowly the price would go up and you make loads of money from the raised price.

But you would have to keep that up for days to weeks and spend hundreds of thousands of dollars in transaction fees to keep the network saturated with your transactions. For example with Ethereum, most transactions with around 0.2$ transaction fees are recorded within 4-6 hours in the blockchain ... agree to pay 0.5$ or more and you have your transaction processed and confirmed within 30minutes to 1h. Now flood the network with these transactions and the people paying only 0.2$ for transaction will have their transactions processed after 10-20 hours, if ever..   your cost would be as little as around 50-100$ per second for days.

 

[manikyath]

Just now, mok said:

how to make it crash?

create a global power outage preventing anyone from accessing the internet

 

that would freeze the market, not crash it.

[Nena Trinity]

2 minutes ago, mok said:

how to make it crash?

create a global power outage preventing anyone from accessing the internet

 

That is just evil I am not a Hydra agent! O3O

1 minute ago, mariushm said:

With a lot of money anything is possible.

 

Here's a strategy..

A lot of coins use networks that can process a fairly limited number of transactions per second, for example in the case of Bitcoin it's something like 2 transactions per second and in the case of Ethereum it's around 12 transactions per second.

So for example, you could just start making transactions between wallets of your own, but agree to pay double or triple the regular amount for transaction fees and then miners would include (mostly) only your transactions in the blockchain and other transactions would fail to be recorded or processed, and people may start selling their stocks if they see the network works so bad... price goes down and you buy loads of coins at low price and then you stop your flood and slowly the price would go up and you make loads of money from the raised price.

But you would have to keep that up for days to weeks and spend hundreds of thousands of dollars in transaction fees to keep the network saturated with your transactions. For example with Ethereum, most transactions with around 0.2$ transaction fees are recorded within 4-6 hours in the blockchain ... agree to pay 0.5$ or more and you have your transaction processed and confirmed within 30minutes to 1h. Now flood the network with these transactions and the people paying only 0.2$ for transaction will have their transactions processed after 10-20 hours, if ever..   your cost would be as little as around 50-100$ per second for days.

 

But that would also happen if to many start using bitcoin anyway right?

1 minute ago, manikyath said:

that would freeze the market, not crash it.

And everything else.

[mariushm]

2 minutes ago, Nena360 said:

But that would also happen if to many start using bitcoin anyway right?

That's why you're paying up to 15-20$ for each transaction today with Bitcoin, because otherwise your transaction wouldn't go through.

They invented all sorts of patches like SegWit which increase the number of transactions per second by a bit, and they're working on other schemes to make transactions go faster and with smaller fees, but it's still long ways.

 

Ethereum also has plans to go massively parallel in the near future, and their design actually allows that and they have developers capable of implementing that, in around 1-2 years they'd be able to process more transactions than what Visa or other cards process each second.

 

Bitcoin was and still is held back by Chinese mining farms who resist any change that would make it less profitable for them. There's no interest to change the status-quo there, and there's few developers willing to work on something only to have their innovations refused by chinese miners and other big interest groups.

[Nena Trinity]

1 minute ago, mariushm said:

That's why you're paying up to 15-20$ for each transaction today with Bitcoin, because otherwise your transaction wouldn't go through.

They invented all sorts of patches like SegWit which increase the number of transactions per second by a bit, and they're working on other schemes to make transactions go faster and with smaller fees, but it's still long ways.

 

Ethereum also has plans to go massively parallel in the near future, and their design actually allows that and they have developers capable of implementing that, in around 1-2 years they'd be able to process more transactions than what Visa or other cards process each second.

 

Bitcoin was and still is held back by Chinese mining farms who resist any change that would make it less profitable for them. There's no interest to change the status-quo there, and there's few developers willing to work on something only to have their innovations refused by chinese miners and other big interest groups.

So all I need to do is to use it myself, convince everyone I know plus some more to use it and make it mainstream?

[mariushm]

8 minutes ago, Nena360 said:

So all I need to do is to use it myself, convince everyone I know plus some more to use it and make it mainstream?

I'm not following you.

You can use Ethereum today just like you'd use Bitcoin ... buy some Ethereum, send it to your friend's wallet and your friend can convert it to fiat (currency) using various websites/exchanges/trade platforms, or can hold on to it. If you have employees in various parts of the world (for example let's say you have a website and you hire writers to create news articles for you and post them to your website) you could pay them in these cryptocoins, many coins are more sensible than bitcoin these days.

The transaction fees for such transfers at least with Ethereum and similar coins are under 0.5$ , which is much cheaper than using Paypal for example. Cheaper and more convenient than cashing checks (for which i'd have to give the bank around 20$ as collateral in case the check bounces and wait 40 days for the check to clear to get my money)

Other currencies that are established enough to easily convert to currency would be Monero, Litecoin, Ethereum Classic, ZCash ... they're stable enough that you can buy and sell them easily, lots of places trade them and exchange them for cash.

[Nena Trinity]

3 minutes ago, mariushm said:

I'm not following you.

You can use Ethereum today just like you'd use Bitcoin ... buy some Ethereum, send it to your friend's wallet and your friend can convert it to fiat (currency) using various websites/exchanges/trade platforms, or can hold on to it. If you have employees in various parts of the world (for example let's say you have a website and you hire writers to create news articles for you and post them to your website) you could pay them in these cryptocoins, many coins are more sensible than bitcoin these days.

The transaction fees for such transfers at least with Ethereum and similar coins are under 0.5$ , which is much cheaper than using Paypal for example. Cheaper and more convenient than cashing checks (for which i'd have to give the bank around 20$ as collateral in case the check bounces and wait 40 days for the check to clear to get my money)

Other currencies that are established enough to easily convert to currency would be Monero, Litecoin, Ethereum Classic, ZCash ... they're stable enough that you can buy and sell them easily, lots of places trade them and exchange them for cash.

So if this is so secure why does not the GPU makers ramp up production and why can I not yet buy stuff in the store with it? :3

[mariushm]

Because the machines that produce the chips used in video cards can only produce a limited number of chips per month, and from start to finish it takes 2-3 months to produce a chip (from silicon wafer to actual chip that can be put on a video card circuit board).

 

In order to increase production, the factory would have to spend tens of millions of dollars to buy more machines and to build buildings in which to install those machines and then you'd have more chips produced which only lowers the cost of the chip itself, but the video card manufacturer may keep the price of the video cards the same because the demand is high. Making more chips doesn't guarantee the price of video cards will drop.

 

On the same note, if they spend the money to increase production, it would take up to 4-6 months for the result of production increase to be noticeable on the market (in stores) and maybe in 8 months to a year something happens and the video cards can no longer be used for mining and then the video card manufacturer is stuck with hundreds of thousands of chips that they can't sell and chip manufacturer ends up with having to reconfigure expensive machines to make less profitable chips.

For the same reasons companies are reluctant to spend more money and increase the production capacity of DDR4 memory chips ... if they invest a lot of money, they may not be able to recover their investments because in half a year when the new productions lines would be fully working, the demand could be gone.

 

This happened with DDR3... manufacturers invested a lot of money in factories and produced a lot of DDR3 memory because they expected people would buy machines with 8 GB or more DDR3 when Windows Vista would come out, but it turned out that Vista was a flop and few bought systems with Vista, so DDR3 memory wasn't sold, and that's how DDR3 memory was super cheap and a few memory manufacturers ended up bankrupt (they couldn't pay back loans they took to increase their production capacity)

 

[Mk7-Golf-R]

Maybe he figured it out, bitcoin is crashing hard