Did Visa manipulate Bitcoin price?

On Friday morning, VISA closed hundreds and thousands of debit cards, without warning, from one second to the next. Cryptopay, XAPO, Wirexapp, AdvCash, TenX .. The list of affected Bitcoin debit card providers is very long. A multitude of international maps and pretty much all European VISA debit cards that could be charged with digital currencies like Bitcoin were blocked.

Thesis # 1: Is this the prelude of the war of the banks against cryptocurrencies?

No. This is what Julian Hosp says in a Youtube video. Julian Hosp is known as an ICO expert and founder of TenX. The blow is limited solely to the company Wave Crest in Gibraltar. Where Julian notes that more than 200,000 customers should be affected. The advantage of TenX: This company has recently received the banking license and will be able to issue its own debit cards in the near future. This action was in any case a blow against the company Wave Crest in Gibraltar. Crypto debit cards had indeed a branding of the publisher as bsp. XAPO or even TenX, but they were all part of the Wave Crest Network, which shut down Visa at one go yesterday. There are only very few cards that are not affected, eg. the debit cardsthe US customers of Bitpay or cards that were used and registered exclusively for salary payment. But why is this attack so sudden on a Friday morning and then without a warning? One guess is obvious and the scene rumors that VISA has manipulated the Bitcoin price.


Did VISA manipulate Bitcoin price?

For most card providers, the withdrawal of card credit in FIAT is done. Bitcoin will be sold on every withdrawal. If these sales disappear, Bitcoin price rises. And operators of the networks knew exactly how many transactions take place at what times. So did VISA purposely drive up the Bitcoin price with this block? This is an unprovable guess. But there are some indications that suggest a large-scale manipulation:

1. No warning

Such a large-scale action against hundreds of thousands of actually own customers, that’s already a blatant story. The most incomprehensible is that customers were not informed in advance. Official statement from VISA states that Wave Crest has repeatedly (!) violated the VISA license terms. Both Firman, VISA and the company Wave Crest, knew about it. The loss has hundreds of thousands of customers. But why do you have to warn customers if you have a virtual monopoly anyway?

2. Time

Friday was chosen as time. You can always postopone by answering press inquiries until Monday and above all: Many network participants can not respond. Perfect day to manipulate Bitcoin price.

3. Temporally and geographically limited failures – secret tests?

Network of maps of Wave Crest had time-limited failures again and again. Were these technical failures? Or was it even tested on a small scale, how many transactions are missing and how these affect the Bitcoin price? All in all: The lack of cash withdrawals drove Bitcoin price skyrocketed:


Conclusion: total surveillance!

Blocking so many cards is unlikely to be either an attack by the banks on Bitcoin or a deliberate Bitcoin price manipulation by VISA. Rather, it is simply part of a large-scale campaign by the EU and other governments against privacy. The policy just does not want transactions to be done anonymously. Each transaction should be traceable, so part of a so-called paper trail: Private data from sender and receiver (birthday, place of residence, etc.) must be known and still be stored in advance. Blocking of almost a million debit cards was probably not a deliberate manipulation of Bitcoin price. This blow was carried out without notice against so many (own) customers, yet leaves a threadbare aftertaste.

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