Bitcoin Forum

I am often getting this strange feeling that if the my.gox fake trading willy bot has caused all previous bubbles....

this time there is no my.gox hence nobody to switch on willy bot and hence the price of bitcoin to be stalled at current levels for eternity....


The dream to moon derailed, and a horizontal line pierces through the charts from now....

you wouldn't want this to be reality right? me too?

but what if?

the 7-8 months cycle might not hold true without those bot, but on the bright side, btc price could grow more steadily with less crashing. Every time bubble happens, people remember it, and are scared of it. Steady growth is better for BTC.

Did a bot create the Rhodium Bubble of 2008?

Did a bot create the Uranium Bubble of 2007?

Did a bot create the U.S. Housing bubble of 2006?

Did a bot create the Dot Com bubble of the late 1990's?

Did a bot create the Japanese Bubble economy of the late 1980's?

Did a bot create the gold bubble of 1980?

Did a bot create the U.S. Stock Market bubble of the "Roaring 20's"?

Did a bot create the South Sea Bubble of 1720?

Did a bot create the Mississippi Bubble of 1719?


Bots are just a tool.  Bots don't create bubbles.  Greed, fear, exuberance, and loss of logical and tempered thinking causes bubbles.  Bots were just a way to take advantage of that.

But it looked like the shady dealings over at gox did cause or at least contribute to the price spikes. That's not to say that bitcoin wont rise again in the future. I think it will but hopefully itll be a more slow and steady natural growth this time. Only time will tell.

Maybe whoever was behind the bot will just move to another exchange, unless all their bitcoins and money is still trapped on MtGox.

You can't pull off what Willy did with ones own money. Only exchange owners using fake USD and running a fractional reserve could do it.

Willy and his partner Markus were able to buy BTC without actually paying FIAT money for them. They were most likely run by Mt. Gox, it wasn't a hacker. If they really just bought and bought and bought, the 6% of volume they accounted for are enough to push the price up, I guess!

Bitcoin value isn't destined to follow an horizontal line forever, this is just a normal period of stagnation
after the previous peak, just wait and more moons will come without the help of Willy bots of any sort.

Guess what an exchange with 80% of a currencie's volume is to it. Of course it was a bug influence! It also had a big influence to the price as the trades started to decline after withdrawals stopped. So yeah, MtGox was maybe the biggest influence to bitcoin's price at the time since it was handling the majority of trades, it affected prices even with it's closure.

The Bitcoin economy today is much different than the past, so it should be easy to see that BTC has outgrown the influence of a single crooked exchange.


So many recent ones?
"Too many Dollars chasing too few goods".

The bot was just a way for whales to buy a lot of bitcoin while having less of an impact on the price. The whales were not creating money out of thin air but rather were using large investor's money to buy large amounts of bitcoin.

I think most of want BTC to hit 10k tomorrow.. I think we need patience. If it grew by 5-10 percent a year would actually be great, but we want it to be 1k percent, like it has been. We've been spoiled, no two ways about it.

1k percent is what will cause a redistribution of wealth and change the world for better..

5-10 % is just going to ad bitcoin along in the list of commodities and other broken rigged markets where only the rich can trade and profit, rich stays rich and poor stays poor..

Nothing changes including our imminent demise from global  warming...

this 1000k increase of bitcoin will be one among which may save the world

http://img.thesun.co.uk/aidemitlum/archive/01527/polar-532_1527216a.jpg


Three themes are emerging from the newly released emails:
(1) prominent scientists central to the global warming debate are taking measures to conceal rather than disseminate underlying data and discussions;
(2) these scientists view global warming as a political “cause” rather than a balanced scientific inquiry and
(3) many of these scientists frankly admit to each other that much of the science is weak and dependent on deliberate manipulation of facts and data.
http://www.forbes.com/sites/jamestaylor/2011/11/23/climategate-2-0-new-e-mails-rock-the-global-warming-debate

keep denying..deny when there is huge tsunami headed

The 1000x returns during the dot com bubble is what has given rise to paypal mafia and people like elon musk who change the world for better..

if there was only 5-10% increase then all those people would have been working for a day job trapped in middle class

Its funny and sad that people refuse to believe that Willy was a MASSIVE influence on the price, and without it the bubbles would not have occurred.

Going up 2x in a year is not the same as going up 10x in a week.

amazing how persistent such made up BS stories like willy bot can be.

Get it clear in your head ---- THERE WAS NO WILLY BOT

more then 1000 bots been trading on gox at any given moment. Because bots strategies are similar and on set time can the same too, it may for some outsider observation appears like one bot.

Right, all those trades on accounts with the same amount of USD, with missing information in the database.. are totally unrelated.  ::)

Strong rebuttal.

No is was not.  :P
No rebuttal can overcome the fact that "scientists frankly admit to each other" global warming is based on "deliberate manipulation of facts and data" and "the science is weak".
They even had to update the name to climate change.

<Back on topic>
Willy bot helped intensify the rallies (and dips), but BTC can still go up dramatically in the future.

I find it hard to believe that people think this was actually some kind of conspiracy. There was actual money behind the willie bot, and the money was actually being spent on the bitcoin purchased.

Did you even read the Willy report?

If Willy was a MASSIVE influence on the price what's to stop someone doing the same thing again with a different bot on a different exchange, or multiple exchanges?

That could even take the price of 1 bitcoin to even 1brillion per coin logically

Uh, because it would be illegal?

In which jurisdictions?  Once the Lawsky regs are enacted, it would be illegal in New York State.  But that hasn't been enacted yet, and is just one jurisdiction.  What about the rest of the world?