Bitcoin Forum

Me and a few colleagues are about to buy 80,000 BTC from MT Gox and another 25,000 from Tradehill. Not to savvy on how exactly that purchase might affect the price but I figured if it is in fact affecting the price, then the least I can do is warn the community so they can place their proper orders. Happy Trading!

Maria.

Now now, Maria. Why would an intelligent woman like you go and post something like this? If it was true, you'd be causing a rise in prices, which means your 80,000 and 25,000 BTC just got more expensive than they were a day ago. Why would you shoot yourself in the foot like that?

Then again, if it is true, and you did announce it here for the benefit of the Bitcoin community, we'll change your name to Santa Maria  ;D

LOL, gtfo

You made me cry with that one. :D lol

I enjoy pain...

It makes me sad to read responses like this from HERO MEMBERS. What a waste.

Maria.

Wow if true, that's nearly a million $...

No, don't worry 100k BTC won't affect the price :)

http://chanarchive.org/content/61_tv/9317766/1274200573569.jpg


Oh btw to the attention of noobs: no, she won't buy, the price won't rise, she's just wanting to sell her Bitcoins higher

Talking of such, does someone know exactly how MagicalTux calculates the BTC price, How do dark pools come into play?

Agreed, that's a bit of a waste, but if that's what makes you sad, in the grand scheme of the depths of putrefaction this forum has been flirting with lately... well, you've either been asleep or away  ;D

We don't have dark pools anymore. We are using IOC/iceberg instead.

Like any exchange they just match buyers/sellers. And Mtgox does not offer dark pools anymore since the hack...

Can you please explain for us "Non IT" what is IOC/iceberg and how does it work? Is it open source?

Maria is obviously smarter than she looks. She does indeed want to buy bitcoins and she knows how it works.

1) Announce on forums that you are going to buy masses of bitcoins.
2) Bitcoin users respond sceptical and are saying that you probably want to drive the price UP, meaning you most likely want to SELL, not BUY!
3) Bitcoin users panic at someone wanting to sell massive amounts of bitcoins and start selling off their bitcoins before YOU do.
4) Bitcoin price plummets to $0.01 (which is quite close to its actual worth by the way)
5) You buy a ton of bitcoins for $0.01 each
6) ...
7) PROFIT!

@MT: Say hi to bruce ;)

I printed this out and put it on the refrigerator so my husband can read it. THANK YOU!

Or... Maria is really, really smart, and wants to sell Bitcoins high. So she makes the original post, which is so childish no one will believe it. Bitcoin users are initially sceptical, but on reading the forum post by The Duke, realise this could well be a double psych, and start to BUY, not SELL.

Hope you have a really big, refrigerator, Maria, because it's turtles all the way down!

You are welcome! I will soon be launching my alternative drunkocurrency called BeerCoin. By that time I will post my BeerCoin adress here and you and/or your husband can donate BeerCoins to my fridge.dat in gratitude for my good advice! :D

Edit: Ah shit. Piper saw through my scheme. There goes my chance for insane amounts of profit :'(

Edit 2: Hooray to my 100th post! Which is really my 230-somethingth post, but rampant admins deleted some complete topics and destroyed my postcount ;)

No no no, it's a double, double double double bluff. Announce a big buy, prices go up a bit from frontrunners, then down a bit from dumpers then up from deep frontrunners then down from double bluffers then Maria buys and its all sweet from there on in... Everyones a winner

Just a heads up, I plan on selling 9,000,000 Bitcoins on CampBX today.  Place your orders accordingly.  Thank you.

Part of me feels bad for Maria. Perhaps she's serious and wanted to be nice.

But a little part of me thinks Maria might actually be Bruce  :D

I really have to stop coming here so much, it's playing with my mind.

It's OK. The internet difficulty just went down again.

I did send Bruce a text message a short time ago before the NYC BTConference.


Very sad things Ive been reading about Bruce, hope he can keep his chin up.

Maria.

I don't get it...

There is nothing to get. Piper said I was Bruce, I laughed, then remember the text I sent him and posted it here for amusement purposes. Hope you enjoyed!

Maria.

I was being funny, btw, I know Maria isn't Bruce because Maria speaks Spanish and Bruce doesn't.

IOC Order: http://financial-dictionary.thefreedictionary.com/IOC+Order

Iceberg/Reserve order:
An Iceberg order allows you to submit an order (generally a large volume order) while publicly disclosing only a portion of the submitted order.

A list of various order types:
http://www.interactivebrokers.com/en/p.php?f=orderTypes

Why would MagicalTux do that? Why not execute the order and disclosing the size of the order publicly? Why HIDE portion of the order??

This post is most non non non non non non non non non excellent...

Here's the truth:

Announce you plan to buy a big load of bitcoins.
Doesn't matter if you do or don't
nothing happens till someone really does purchase said bitcoins,
market reacts same as ever when there are buyers and sellers.

This post effects nothing.

I will have you know I plan on purchasing 7,167,700 btc (the entire amount currently) when the price hits
0.00000001 (Bitcoins true value)

I have my 7 cents ready now to make this purchase.

I just wanted to warn the market community.

I think when the order executes, then it becomes public, but the point is that a portion of the order is kept hidden up until it executes.

But I might be wrong.  :D

That might be, but isn't the point of BTC transparency? I understand MTGox are the big exchangers but the way they handle such orders is not crystal clear. WE WANT FULL ORDER TRANSPARENCY, NO DARK POOLS, NO ICEBERGS, NO BULLSHIT. BUY and SELL, That is it!!

The problem with the IOC/Iceberg is that right now in my case, I will BUY a HUGE order, but MTGox will keep it secret from you... doesn't that bother you?

What?  No.  If you BUY a standing ask order right now, of any size, it will not be kept secret from anyone.  We'll all see it.

We are talking about the order bro. If I put a 10,000 BTC buy at 7.00 will you be able to see such order?? No, only a part of it, not the true size. If you knew there was 10,000 BTC waiting at 7, would it affect your trading strategy?? Think please...

I think freedom of association and its subordinate corrollaries are human rights and they supersede your preference of supposed "transparency". How one trades should not be up to mere subjective whims. I see no moral obligation in making everybody's business public and Bitcoin exchanges small or large should be no exception.

Simply put, if you do not like MtGox's practices, use an exchange you condone. It is in MtGox's property right to (with informed consent) to obscure and manage transactions at its whim.

You might be the most popular neighbor on the block and quite a host of tea parties but if I should wish to be a guest, do I have the right to admonish and search your home and inspect all of your tea?

Of course not.

I didn't know that merely placing orders was also an act of buying them (e.g. "I will BUY a HUGE order").

I am glad you got the point.

When are you buying the 80,000 BTC from MT Gox?

It's funny though, I've placed orders before, then taken them down, and despite, according to you, that in that case I bought something, the amount of money in my account doesn't change.  So, on your view, is this what happens?

1.  Place buy order below market price (e.g. $7.00)
2.  Exchange charges me the cost of $7.00 times the number of units I placed the order for.
3.  I cancel the order.
4.  Exchange gives me a full refund.

Here's what you said:


Here's what you should have said:


MtGox doesn't keep actual purchases secret.  They might keep order placements secret, however.

What I am saying is, If there is an order for 10k BTC at 7.00, that means that when the price hits 7.00 my 10k will be excuted and the price will rise to say 7.50...
If YOU would've known that my order was there for that size, you might have placed an order right next to mine to catch those 50 points on the way up/ Transparency allows such judgments.

Yes, and while transparency is highly desirable for some, and under some circumstances, it simply isn't for others. Someone out there may not want to know there's such a huge pressure at 7.00 until he or she is ready to push forwards.

Some exchanges do not keep anything hidden, Mt. Gox does. There is no presumption of transparency (nor a right to it), unfortunately for some, fortunately for others.

If someone wants to keep it really hidden, they can put a note in the forums saying "I want to buy 10,000 BTC and will meet you at the nearest Starbucks... bring your big bucks"  :D

Those Hidden practices are exactly what Bucket Shops DO before they vanish. It keeps people out of the loop regarding the real financial health of such institution.

But, I guess its up to me to set up a whole new exchange service that doesnt hide any capital information. Best Luck to all traders out there!!

Also, they pushed back 2 week for Liberty Reserve withdraws, in other words, let us build the capital then we will send you your money... Liberty Reserve is instant!! why 2 weeks?? ALERT!!

Can't speak to the Liberty Reserve issue, as I don't really use LR anymore. But the practice of hiding offers in whole or in part is, I'm afraid, pretty well established in trading circles. Again, I personally don't really like it all that much. But then again, so many people put up fake offers and walls anyhow as to make any attempt at reading market depth pretty baseless. But hiding part of an offer is a service that some might think has value, and as such there will be those willing to offer it.

In the end, though, I suspect things tend to even themselves out. The problem with the BTC market right now is that, in terms of fiat currencies, it's trivially simple to manipulate. Anyone with 150,000 dollars/euros/pounds can pretty much do with the Bitcoin market as they please.

Under all that, however, the Bitcoin world continues to churn, the idea becomes better known every day, and slowly but surely (and especially after early 2013 when the payout drops from 50 coins to 25), the BTC value will rise. As it does, it will become progressively more difficult for anyone to manipulate the market.

Until then, though, keep posting notes on that refrigerator door... it's going to get pretty crowded there soon!

Un saludo.

Saludos para ti tambien y muchisimo exito en esta aventura llamada bitcoin. Lo que dices es 100% cierto y es la razon por la cual soy parte de esta comunidad, el futuro es muy brillante pero falta mucho por pulir. Yo solo sirvo para senalar fallas, no para corregirlas. Lo mio es hacer $$$ solamente y me gusta que ese processo sea facil y transparente. EXITO PIPER!!

Proceso only has one 's'.  =D

this is a troll thread.

the real effect: everybody quits selling or buying bitcoins look at the trade volume, it's still declining.

Arguing for transparency when the majority of walls of support/resistance are fictitious (placed by bots that will disappear moments before the price gets there) is a whee bit silly isn't it?

Maria : Should I buy at $3 or 1.50 ?

lol the price is going down

It's "going down" when lower sell orders are fulfilled.
Completely normal and happens every day (5-10% or bigger swings)

Really? If it was 100K BTC, would it then affect the price? How many BTC needs to be bought for the price to reach 7.50?

Wow, I am amazed. There are still buyers for this scam? I thought it had died a long time ago.

I found this thread hilarious. :)

http://www.youtube.com/watch?v=bESGLojNYSo&ob=av3e

After I saw that comment I decided to stop responding because, well...

Why, because you can't fool the masters of reality?

Oh, I'm sure she can't possibly actually be lying. I'm sure there's a perfectly reasonable explanation for the delay...

I know. The electronic bank transfer got lost in the mail! God damn USPS, losing mail that isn't even going through them... :)

I bought 1,000,000 BTC throughout the day yesterday in anticipation of her buying 800,000 Bitcoins.

Has Maria put in her purchase yet?

I have some shopping I need to do this weekend so I might have to sell it all before the end of the day if she was lying.

Maria honestly someone like YOU should not be making posts like THIS...

Honestly it makes us look bad.

I see the crazy amounts had many believers. You never know it could happen ::)

Someone buying 100k BTC, yes
Someone buying 100k BTC and writing it on the forum before buying, no

I call shenanigans

But hey do it - I fucking dare you...in fact I fucking double-dare you

OP is a liar

Would this explain why the price went down from like $10 to now $5? lol

lol, yup. Everyone remembers when this historic trade happened   ::)

Yes it was awesome. We should do it again sometime.

Maria.

To follow Maria's trick of announcing so people sell, but actually buy, but really sell, I'll be buying (?) 600BTC some time next week. Where should I plant my wall?

::) ::) ::) ::) ::) ::) ::)