Bitcoin Forum

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Dude, They're called Bot Bidwalls
Get used to it, EVERYONE does it, Whats SO BAD if MT.Gox users put up thier own bot bidwalls
Seriously.

How is this manipulation?

This is manipulation because the price $3.44 for BTC didnt happen today. It looks like the price is skyrocketing when it isn't. This is false signal to buy.

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They are not manipulating the market.. read up more about it before you speak out like this!!

I saw it too, but my gut reaction was that it was a glitch somewhere. Still not very confidence inspiring. Either way, the actual price was never that close to 3.4 today and the sell orders never got cleared away anywhere close to that value.

This is a pretty big accusation without any hard proof...

hardly the craziest story I've read on an internet forum though

Its pretty obvious that MTG:OX puts up their own bidwalls to drive the market any way they want. They are not audited or have any over-site whatsoever. Bitcoin is the wild west and they are free to do as they wish. No one can stop them.

But that would not explain how the price shot through the order walls to a value that it never actually attained.

The problem is :

There's no usage restriction on
both BTCs and USDs that people storing in MTGOX,

they can sell high buy low earing BTCs,
or they can buy low sell high earing USDs.

You know in a real BANK, or a real STOCK EXCHANGE,
you can't use people's USDs or STOCKs like this (highly dangerous movement),
and you must pay intrests.

You must be here because of being band also, Flyers66. The reason I state that is because of your post count of 3 and seem to know what you're talking about. I do, though, have to respectfully disagree with your position.

Nikki the Bitch (I may fall in love with this account)

Fail.

I notice worse (freaky) activity on other exchanges where random or non-existent trades occur.  This looks pretty dull.

Do you also check the sequence of trades, monitor depth and identify who is buying and selling?

As I said, MtGox trading looks dull.

This isn't the first time this has happened. A few months ago, in the midst of heavy trading, we saw this same thing. It was deemed a glitch in Gox's polling, and forgotten. No orders were filled then or now.