Bitcoin Forum

Looks like some bot is buying and then selling thousands of BTCs to itself on btc-e.

Note there is no slippage.

Looks to be very fake/fishy...


Edit: to break the bot just buy the btcs off of it when it sells and it will be forced to buy more btcs from other people since it didnt buy from itself = slippage. The price will then go up.

Don't think I have seen btce with higher volume than stamp and finex before. Definitely something fishy going on.

we had that one few months ago, and price dropped 200$ after it stopped operating.

Could you elaborate? Do you think this is some panic bot or something? I don't quite recall the incident you're pointing at. I guess a $200 drop nowadays would be quite big! It would almost mean cutting the price in half!

Do you guys think there could be any money made by tricking that bot, since it seems to be rather predictable? I haven't quite grasped the whole 'strategy' behind it, and am mostly wondering this out of curiosity :D

Hmm, I did not know that -- you mean the crash to $100? I saw someone mention in the Tradingview bitcoin chat that this bot was active before the margin cascade a couple weeks ago. Do you think this is the case, too?

Why would we want to break the bot?  ???

Some dudes have figured this out and keep feeding the bot @486-487
It will soon be out of BTC lol

Poccии тexнoлoгии right there...

what do you mean, how to exploit the bot

It seems that BTC-E started to use the same bot as the Chinese exchanges.
This is probably due to low natural volume, and they thought that maybe it will stimulate the market enough to raise the volume, together with their income from fees.
The outcome for this will probably be a drop, because sudden unexplainable changes like that create panic. In BTC-E eyes, panic and the resulting drop isn't bad, because during sudden drops there is increased volume, so they earn more with fees.

Maybe its some users bot in some attempt to control the market, no rules against using bots.  Volume is looking sweet.

This bot is operating with 0% fees, or else it wouldn't make any sense. So, it's operated by BTC-E's "inner circle".

Or this bot is bugged and operator is sleeping.
Maybe other bot knows how to exploit.
Since the volume is slightly decreasing,.. this could be true.

Yeah, I don't think it makes sense to just switch on a bot that miraculously kickstarts your volume up so you're the biggest exchange volume wise just over night! That looks so suspicious, they gotta know it doesn't make sense!

could this have anythin to do with GABI starting trading tomorrow?

Can you give a source of this story?

This has made perfect sense, with other exchanges following the Chinese exchanges with the same kind of fake volume. Don't underestimate the stupidity of an average bitcoiner

But wouldn't they rather opt to "fade in" that bot over a week, month or so? This just is apparently something going awry, most likely some bot gone awry or an insider-bot creating fake volume! Just makes that exchange even more shady!

I guess people are mostly looking for explanations for this unexpected repeated crash and GABI seems to be one of the bigger things happening in Bitcoin Land these days, so people assume it may be the reason for a movement in price!

No need, because most of the bitcoiners can't see the truth even if it's staring them right in the face. This thread is a perfect example for that.
Anyway, they switched it off for now. Let's see if they tune it a little and switch it back on.

Given you despise bitcoin and its proponents so, I am surprised you are still gracing us with your presence MP.

remember that avatrade allow x16 x20 leveage on btc-e btcusd pair so that can be a reason
http://www.avatrade.com/trading-info/range-of-markets/bitcoin

I think this may have something to do with it. Also, I suspect if it is simply bot shenanigans, that it may be something like this poster laid out:


Anyone remember that crazy volume on BTC China (after all the action moved to Huobi) when the maker taker bot exploited the market order bot? That guy took 100+ BTC from that bot in maker taker fee rebates.

You're quoting the wrong person, it was me.