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Title: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: bitcoin02 on December 12, 2012, 05:41:25 AM http://bitcoincharts.com/markets/mtgoxUSD_trades.html
http://bitcoinprices.com/realtime.aspx Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: humanitee on December 12, 2012, 05:44:14 AM It's a bot.
Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: adamstgBit on December 12, 2012, 05:45:01 AM Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: Yuhfhrh on December 12, 2012, 06:00:33 AM How about pirate? :D In all seriousness, nobody knows and they haven't come forward in the past so they probably want to keep it that way. Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: smoothie on December 12, 2012, 06:40:51 AM LOL nope I don't use a bot to trade BTC. Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: bitcoin02 on December 12, 2012, 10:24:30 AM the 0.01 bot is artificial financial intelligence, checks asks(adjust ask,bid) and set last price to bid+0.00001.
3.15007****BTC @ 13.53565 (last hour may be look like he is catching the 0.01 bot ask) the bot got around 3.15btc and he is playing. Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: slothbag on December 12, 2012, 12:23:01 PM I remember seeing this price manipulation back during the original run up to the $31 peak.. and i'm pretty sure its been happening 24/7 since then..
Because Mtgox can often see pauses of 10 sec - 5 minutes between trades, someone is resetting the "last price" after each honest trade back to either the bid side or the ask side depending on their desired direction. They are trying to influence the direction very slowly and subtly over time, from my observations the timings are probably around 6 months for each direction. e.g. lets say the bid/ask spread is 13.50/13.60. Someone buys at 13.60, rather than show 13.60 for 5 minutes and have everyone adjust their bids/asks around that, the bot resets the price with a tiny trade as quickly as possible (few seconds) back to 13.500001. So now everyone adjusts their bids/asks around 13.50. Over time, on a market with large pauses between trades I think this would be and has been effective. Although I can see the bot trend is down at the moment but price is continuing to go up, so hopefully mystery manipulator will be left behind. Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: cypherdoc on December 12, 2012, 05:05:23 PM I remember seeing this price manipulation back during the original run up to the $31 peak.. and i'm pretty sure its been happening 24/7 since then.. Because Mtgox can often see pauses of 10 sec - 5 minutes between trades, someone is resetting the "last price" after each honest trade back to either the bid side or the ask side depending on their desired direction. They are trying to influence the direction very slowly and subtly over time, from my observations the timings are probably around 6 months for each direction. e.g. lets say the bid/ask spread is 13.50/13.60. Someone buys at 13.60, rather than show 13.60 for 5 minutes and have everyone adjust their bids/asks around that, the bot resets the price with a tiny trade as quickly as possible (few seconds) back to 13.500001. So now everyone adjusts their bids/asks around 13.50. Over time, on a market with large pauses between trades I think this would be and has been effective. Although I can see the bot trend is down at the moment but price is continuing to go up, so hopefully mystery manipulator will be left behind. +1 Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: zoinky on December 12, 2012, 06:58:55 PM We just need a bot that places a bid for .01 of the lowest ask.
Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: annette786 on December 12, 2012, 08:27:00 PM The bot also seems to hit the bid with .01 after each trade so the last price appears to be lower. You wouldn't think it would be all the effective, but someone just offered 250 BTC at 13.687 when the next highest offer (with volume) is 13.76ish. Over time, it shakes out cheaper BTC.
Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: byronbb on December 12, 2012, 09:20:09 PM Interesting blog entry from a guy trying to buy some stock and being gamed by bots.
http://www.zerohedge.com/news/2012-12-11/guest-post-five-minute-example-hft-shenanigans Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: goldlyre on December 13, 2012, 03:02:36 AM On a Chinese BTC exchange where I usually trade, there used to be nobody making 0.01 trade. But this morning I bought 0.01 BTC for 85.90 RMB (local currency) same as the ask price then while the bid price was as low as 84.10 as I remembered. The turnover price remained unchanged there for more than a hour, so could I boast that I had successfully manipulated the market for a hour? 8)
Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: 420 on December 13, 2012, 07:29:56 AM The bot also seems to hit the bid with .01 after each trade so the last price appears to be lower. You wouldn't think it would be all the effective, but someone just offered 250 BTC at 13.687 when the next highest offer (with volume) is 13.76ish. Over time, it shakes out cheaper BTC. maybe for businesses that charge the gox last price Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: b!z on December 13, 2012, 10:58:13 AM On a Chinese BTC exchange where I usually trade, there used to be nobody making 0.01 trade. But this morning I bought 0.01 BTC for 85.90 RMB (local currency) same as the ask price then while the bid price was as low as 84.10 as I remembered. The turnover price remained unchanged there for more than a hour, so could I boast that I had successfully manipulated the market for a hour? 8) Yes, you could, but nobody would care. Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: 2weiX on December 13, 2012, 11:09:36 AM as if a 0,01 could keep the price down.
my bot does this if the balance is low. it usually places 0,0x% of the balance (fiat or btc) as order, but if the balance runs low, it will always buy or sell 0,01 (or whatever i give it, used to be 0,1337 aintit funny). could imagine someone else using this thing or one similar. Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: cypherdoc on December 13, 2012, 06:59:04 PM We just need a bot that places a bid for .01 of the lowest ask. realize that the purpose of this bot is to let its owner accumulate Bitcoin at a cheaper price w/o having to pay the spreads. its a bullish sign. the way to handle this bot if you're also a bull and looking to accumulate is to have your bot look for any .01 BTC lowest ask. once it sees it, have it then look at the next higher ask; if it's .08 or more higher in price then you can be assured that his bot is presenting a falsely tight spread. then have your bot buy that .01 BTC at its ask. you will in effect, .01 BTC at a time, make him pay your spread fee and accumulate all his Bitcoin :D Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: cypherdoc on December 13, 2012, 11:53:09 PM lol! looks like someone is actually implementing my strategy :D good for you!
Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: zero3112 on December 22, 2012, 07:14:46 AM Does anyone know if this bot is still active?
Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: 420 on December 22, 2012, 07:27:53 AM haven't seen lately.
http://bitcoin.clarkmoody.com/ Title: Re: Who is trading(ask) 0.01 on Mt. Gox ?? to keep price down? Post by: cypherdoc on December 22, 2012, 05:34:52 PM Does anyone know if this bot is still active? its been forced to abandon half of its manipulative strategy by emerging bot destroyers. lol! :D |