<story><title>Using Benford’s Law to Detect Bitcoin Manipulation</title><url>https://statmodeling.stat.columbia.edu/2021/07/15/using-benfords-law-to-detect-bitcoin-manipulation/</url></story><parent_chain></parent_chain><comment><author>arcticbull</author><text>I mean, we need only remember that in late 2016 two wash trading bots at Coinbase accounted for 99% of all global trading volume in Litecoin. (Likely Charlie Lee, btw) [1] And that Tether continues to exist after this devastating NYAG settlement. [2]&lt;p&gt;It&amp;#x27;s clearly manipulated. And it&amp;#x27;s manipulated because its roughly speaking globally unregulated, and tracks globally via cross-exchange arbitrage bots.&lt;p&gt;If the author found anything different I&amp;#x27;d eat my ...hat, and if you believe the trading patterns are as pure and organic as the driven snow I&amp;#x27;ve got an NFT of the Brooklyn bridge to sell you.&lt;p&gt;[1] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.cftc.gov&amp;#x2F;PressRoom&amp;#x2F;PressReleases&amp;#x2F;8369-21&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.cftc.gov&amp;#x2F;PressRoom&amp;#x2F;PressReleases&amp;#x2F;8369-21&lt;/a&gt;&lt;p&gt;[2] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;ag.ny.gov&amp;#x2F;sites&amp;#x2F;default&amp;#x2F;files&amp;#x2F;2021.02.17_-_settlement_agreement_-_execution_version.b-t_signed-c2_oag_signed.pdf&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;ag.ny.gov&amp;#x2F;sites&amp;#x2F;default&amp;#x2F;files&amp;#x2F;2021.02.17_-_settlemen...&lt;/a&gt;</text></comment>
<story><title>Using Benford’s Law to Detect Bitcoin Manipulation</title><url>https://statmodeling.stat.columbia.edu/2021/07/15/using-benfords-law-to-detect-bitcoin-manipulation/</url></story><parent_chain></parent_chain><comment><author>Animats</author><text>Huh?&lt;p&gt;The NYSE looks that way because of a stock market rule that if the price falls below US$1 for 30 days, it becomes a &amp;quot;penny stock&amp;quot; and will be de-listed. There&amp;#x27;s also a tradition that when a stock gets well over $100, it splits. (Berkshire Hathaway refuses to go along with this, but everybody else does.) So issuers tend to split and reverse split to stay in the traditional trading range.&lt;p&gt;Commodity prices and foreign exchange rates don&amp;#x27;t behave like that.
They don&amp;#x27;t split or reverse split. Also, their price is different depending on which currency you view it in.</text></comment>