Researchers noted that the soaring price of bit coins may have been price manipulation by several people

byAntana

The market price of virtual currency Bitcoin (bit coin) has reached the most recent peak in December 2017, and it has been around 1 BTC = 1.6 million yen as of January 2018. In February 2017, about 130,2700 yen was recordedHighest ever value in history for the first time in 3 yearsAlthough there is a feeling of awkwardness when considering that it was, it is a paper that points out that there was a possibility that there was a price manipulation by a very small number of people about the "highest historical value" of November 2013 which was updated at this time Is published in the Journal of Monetary Economics magazine.

Price Manipulation in the Bitcoin Ecosystem - ScienceDirect
https://www.sciencedirect.com/science/article/pii/S0304393217301666


Researchers find that one person likely drove Bitcoin from $ 150 to $ 1,000 | TechCrunch
https://techcrunch.com/2018/01/15/researchers-finds-that-one-person-likely-drove-bitcoin-from-150-to-1000/

When I posted an article that compiled information on bit coins at GIGAZINE in October 2013, the exchange rate was 1 BTC = 137 dollars (about 13 3300 yen).

What is the virtual currency "Bitcoin" and how it works is summarized in one shot - GIGAZINE


Beginning shortly after this, the price of bit coins rose, and in November 2013, it recorded 1165 dollars (about 127,800 yen). This number was "highest ever" until it was updated in February 2017.

Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman investigated transactions at Mt.Gox, one of the bit coin exchanges, and during this period of 2013 when bit coin price soared, Confirmed that "About 600,000 BTC was illegally acquired at 188 million dollars". On the day when suspicious transactions occurred, it is pointed out that the dollar / BTC rate rose by about 4% on average, and as a result, it may have caused a sharp rise in bit coin prices.

The account that was doing the transaction is thought to have done the price operation of the bit coin by fake deal with accounts "Markus" and "Willy" which do not actually own the bit coin.

As of January 2018, the rate is 1 BTC = approximately 1.6 million yen, which is higher than 10 times higher than at the time of 2013, but it is unknown whether there was price operation in this movement.

The bit coin is "21 million bits coin" and the total currency is fixed, and already 80% of the 16.8 million coins are "miningIt is already. It is predicted that the last bit coin will be mined 100 years later, it is difficult to earn "by mining" any longer, and there is a present situation that is the material of speculation.

That's 168 million out of the 21 million total. That last one will be mined in about 100 years from now, probably.pic.twitter.com/rT0hW0Lkus

- Mikko Hypponen (@ mikko)January 15, 2018