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Title: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: vite on April 17, 2013, 03:07:18 PM Well after seeing the behaviour of the markets it hit me like a slap in the face.
its called the DUMP DDOS and Buy back strategy. Requirements... Ilegal bot net capable of taking out one or several exchanges at once. A trade bot that is trained to sell when pre-DDOS and buy back when the attack is done. If all is done correctly then you will always gain a spread cause market seems to drop a bit during the DDOS attack. If im not wrong the only way to avoid this is having the markets adjust to the attacks by "creating markets" hence buying or selling (depending on the nature of the attack) to prevent price corrections from the attacks. If the volume is right then this preventive buy and sell orders would be made up in fees and render the DDOS attacks ineffective cause they would not generate the required spread to make a profit. Just thinking out loud Vite Title: Re: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: Wardrick on April 18, 2013, 12:42:01 AM That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying.
Title: Re: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: myrkul on April 18, 2013, 12:50:02 AM That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying. People are dumb? Title: Re: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: b!z on April 18, 2013, 12:04:23 PM That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying. Mt Gox down = OMG BTC IS DAED SELL SELL SELL Title: Re: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: molecular on April 18, 2013, 12:08:47 PM That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying. People are dumb? it creates uncertainty. uncertainty creates fear. fear induces selling (in those who think USD is more trustworthy than BTC) Title: Re: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: myrkul on April 18, 2013, 03:00:45 PM That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying. People are dumb? it creates uncertainty. uncertainty creates fear. fear induces selling (in those who think USD is more trustworthy than BTC) http://www.thornybleeder.com/index_files/fear-is-the-mindkiller.jpg Title: Re: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: tysat on April 18, 2013, 07:09:19 PM Haha, that should be posted everywhere! Title: Re: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: myrkul on April 18, 2013, 07:13:37 PM Haha, that should be posted everywhere! Indeed. Tempted to hang it on my wall.(Thanks to Frank Herbert (http://en.wikipedia.org/wiki/Dune_%28novel%29), btw) Title: Re: Dump and buy back (how to become a bitcoin millionare post mining era) Post by: molecular on April 20, 2013, 07:04:49 AM Haha, that should be posted everywhere! Indeed. Tempted to hang it on my wall.(Thanks to Frank Herbert (http://en.wikipedia.org/wiki/Dune_%28novel%29), btw) just printed it ;) |
