Bitcoin Forum

https://i.imgur.com/BSTddwD.jpg
http://www.reddit.com/r/Bitcoin/comments/340y3n/btce_going_crazy/

I know, it's weird.  Is Willy back?  ;D

https://i.imgur.com/1juKsXO.jpg

Little Willy

https://www.youtube.com/watch?v=JHyuIioJYBw (https://www.youtube.com/watch?v=JHyuIioJYBw)

Watch the bot in action https://bitcoinwisdom.com/markets/btce/btcusd

It's like watching this...

http://img1.wikia.nocookie.net/__cb20120509193226/ultradragonball/images/d/d4/Dragonball.gif

What is it doing? Big buys or endless small ones? Not sure if its still going.

I watched some of this action play out but missed the very beginning, could just be a whale bought up some coins.  BTC-e is known for bots so that is nothing new. The price right now seems to have calmed down so probably just a whale buying.

Could be a whale buying up.

Pummmppp and duuuumppp

action is over. it only went up a few bucks. nothing special. btc-e orderbook is very thin so a pump is quite easily initiated. let's hope next pump will last a bit longer.

maybe some crazy russian whale buying up who has some inside info for the real pump tomorrow?

the exchange has low prices for reasons, but yeah more like price manipualtion.

Pump and dump seems pretty often though. Its either that or some major scammers cashing out on bitcoin. Esp, all those ponzis I seen in the gambling section that people throw like 1 btc minimum with fake deposits.

They probably did it themselves to generate volume. More trades = more fees and it makes up for the amount spent in pumping.

What is this action about? Can't find anything so far. Even on reddit there is nothing that indicates the sudden jump in volume. Perhaps a whale trying to make some fun.

The chat shows price went up $13 for some minutes and came back down. It was just a large buy order. Let's hope there's another tomorrow.  ;D

They don't really need that. They have enough cash from just running the biggest completely anonymous exchange.
It was simply a big order that caused a short hype.

agreed! the only reason of a pump

Good lord they are at it again.  It just hit 257.  Maybe the Russians finally discovered sound money.  Could btce lead the next rally?  I never would have guessed that.

Nah, don't think so. It's very difficult to control how fake buys/sells work out. You, as an exchange, could end up losing quite a bit by trying this. The most reasonable explanation is still, unfortunately, that there'll be a ban of some kind. Or maybe manipulation to create a short squeeze: https://bitcointalk.org/index.php?topic=1040020.0 (https://bitcointalk.org/index.php?topic=1040020.0)

I enjoy it when Bitcoin does crazy things. Feels like the good old days.  :D

If you find this news, i dont know what to say.

Btc-e has a long track record not only that exchange but most exchange have price manipulation. But, it depends on the level of manipulation, like how mt.gox did it back in the day was with phantom deposits, which can be doing as well.

Couldn't have said it better myself.

But this is quite a big rally, also it's already the second rally today, even! How do you think they're doing it, actually? If they were outright buying BTC with 'phantom' amounts of FIAT, they'd be guaranteed to go under in the future. I don't think you'd want to get yourself in a fractional-reserve position deliberately as an exchange(!) Just take a loot at "It's a wonderful life"!

what's up with btc-e it's going up much higher than other exchanges. do they know something we don't? in this rate it can easily reach $300

i just wonder why buyer is doing this on btc-e
if he tries this at bitfinex probably collects with better margin.
any other big exchange has more usd volume so more sell walls.
is there anything special at btc-e that others dont have ? i dont think so, it is worst exchange for a pump or collecting bitcoin especially at these volumes. ???

I think, someone with much money AND much BTC wanted the BTC price to rise. So how he can try this without paying too much? Right, try to pump the price on a trusted exchange with the lowest volume, BTC-E

and people comes with btc that have been bought from other exchanges then price falls, not a good finance strategy with one of the most arbitrageable thing on this universe.

don't think so as a smart trader knows it will get dumped down directly. they are not trading to lose money. traders on other exchanges don't follow btc-e. most people look at bitfinex or bitstamp.

If it were a whale or small group I still can't believe that someone had that much fiat on btc-e. I saw the price go up over $260 and thought there was some news that I missed, just turned out to be btc-e craziness. Was it the magical bullwhale that buys are large amount at market price to pump the price? Seems really odd though, if it were insider knowledge they would have been more stealthy to get more BTC at a lower price.

it looked more like people trying to get their fiat out of btce. lets hope btce doesnt end as http://www.libertyreserve.com/index.html

Yea it does, why else pay so much over spot price?
Hope that's not the case, I've always been a fan of BTC-e :(

The pump always starts @ china, so if i wanted to buy shitload of btc without raising the price much i would buy exactly @ btc-e, because people will ignore it
most of the time. Doesnt this sound like a reasonable explanation ?

cheers

Could be.  But if another Willy was unleashed at BTCe, I'm pretty sure China is watching right now.  The thing is be always ready.  

or may be china is doing it, china is big player behind bitcoin pumps
it can be good for bitcoin if price rise but wrost if btc-e scam

to be fair : the other exchanges followed and price is now several dollars up. I think it was quite a good idea to pump btc-e in the bigger picture. We should maybe all start buying on btc-e to get a little bullrun started? Orderbook is very thin and other exchanges follow. Makes sense to me. Also in case the pumper had 20x on margin long on okcoin or was trading on margin long position he could have made a handsome amount of money.

Yep, major short squeeze.  Someone probably did it just for the lulz.

Shorts are playing Russian roulette right now, the big guns will come in to ruin their day.

Margin longs are equally as vulnerable.

OKcoin and 796 are tricky
. I played and lost lot of money. you cannot go down more than 80% or something on 796 - I mean when you use  high margin - and when you have big position like hundreds of bitcoins in the blink of an eye you loose all, just a 1-2 usd down and you loose all margin, all money which you bet, simply ALL, read their conditions....

for once btc-e was the leader in volume and price. great day for the owners as the volume was much higher than normal. they made a nice amount.

I wonder how many people cashed out their Bitcoins from exchanges like Bitstamp and Bitfinex to sell them at BTC-E.

After their deposit posted on BTC-E the price was back to normal and these people got upset  ;D

but that's more an exception, not the rule!

Interestingly BTC-e is still online, there have been no rollbacks and everything seems to be in order. Even the price is holding well and still going up a bit. This only leaves one real explanation: That was, indeed, real buying pressure and no panic buying, in order to get FIAT out of the exchange by converting it to BTC!

I wonder if this had any connection with the BTC-E pump.
http://arstechnica.com/tech-policy/2015/04/30/rogue-silk-road-dea-agent-arrested-with-go-bag-9mm-pistol/

:P who knows but for one i am confident this pump will hold out possibly breaking the 250 barrier which has been holding us back for some time :P

Nope. BTC-e is working on increasing liquidity. They'll announce once they are ready.

BTC-E is indeed still online. Is that so weird? It was just a fun pump, or some whale traders knowing something we don't.

BTC-E as exchange with the highest price. That's not something we have seen a lot before  :D

If you were Greek and you wanted BTC, where would you be getting them you think?

kraken is a great exchange for that. especially as they have a btc/eur market and process deposits very fast for europeans. bitstamp is also nice but they only have usd market.