How about the little revolution on centralized exchanges (CEX)?
1 min read
Dear crypto Reddit,
Do you remember the story where the bank cannot return all the money if everyone wants to withdraw it simultaneously?
Recently at a party, I met one of the developers of the unnamed centralized exchange. We talked about manipulation by the exchanges, and he told me an interesting fact.- Exchange bots use our coins and stable coins to move the price up and down, triggering stop orders and causing liquidation!🤬
Do you know what will happen if we put all our spot assets up for sell and buy? 🤔
Bots will not be able to use our coins to manipulate the coin price!
I’m talking seriously! 😎
If everyone reserves their assets on the exchange by placing buy or sell orders, bots will lose liquidity to work. 😂
🚨🚨HERE’S THE PLAN (Please share it)
Create sell orders for each coin (cryptocurrency) you have.
Use any sale price, $100,000 or $1,000,000. It doesn’t matter!
Place an unused US dollar or US dollar to buy something, like Bitcoin, for $1!
The price doesn’t matter!
The point is to reserve coins in the system(orders) so that exchange bots cannot use our cryptocurrency for manipulation! 🔒
Theory.
If we create sell orders for coins but leave USDT unused, this can cause an unprecedented pump. 📈
Create a liquidity crisis with your own hands! 🚀😁
#CEXcontrol
submitted by /u/sisan9179
[link] [comments]
