Question about bots...

[Obi-Wan Coinobi]

Is it possible that bots are keeping the price at $625 right now? Is that even possible? It just seems so fake ...all the 0.001 bids all day long. Enlighten me with your knowledge and experience! 

[Ibian]

Tired of people complaining about bots. There are people running them, and real money behind it. They are part of a free market.

[BitchicksHusband]

Is it possible that bots are keeping the price at $625 right now? Is that even possible? It just seems so fake ...all the 0.001 bids all day long. Enlighten me with your knowledge and experience! 

Coinbase has admitted to placing orders so as to reduce the volatility.  And since they trade mostly on Bitstamp, that would seem to be the case.

[Obi-Wan Coinobi]

Tired of people complaining about bots. There are people running them, and real money behind it. They are part of a free market.

It wasn't a complaint...however, not knowing was annoying me. Thanks

[HairyMaclairy]

Tired of people complaining about bots. There are people running them, and real money behind it. They are part of a free market.

Having watched a whale rape a market momentum bot on BTC China I can assure it does not all go the bots way.

[MatTheCat]

Tired of people complaining about bots. There are people running them, and real money behind it. They are part of a free market.

I am tired of people complaining about monopolising establishment bankers. There are people running them, and real wealth behind it. They are part of a free market.

Having watched a whale rape a market momentum bot on BTC China I can assure it does not all go the bots way.

It's not the dumb bots that we are complaining about. Its the shark bots, like the one operated by the whale on BTC China that exploited the maker taker bot.

@OP. Bide your time, this bear wedge is narrowing all the time and by the end of the week/weekend we will most likely be ready for another test of the $540 support followed by bounce and recovery and/or subsequent failure of the support. If $540 doesn't fail next time, it will fail the time after that.

[johnny211]

Is it possible that bots are keeping the price at $625 right now? Is that even possible? It just seems so fake ...all the 0.001 bids all day long. Enlighten me with your knowledge and experience! 

No amount of 0.001 orders or trades are keeping price anywhere at all. You need to filter them out, look instead for price levels where actual size moves around.

All the microtrading does is make candles look different, especially when they are combined with red/green colors. It does not affect the market, it does not cost much, and no meningful amounts of money changes hands. It is just silly little scripts mocking about.

[johnny211]

Having watched a whale rape a market momentum bot on BTC China I can assure it does not all go the bots way.

It's not the dumb bots that we are complaining about. Its the shark bots, like the one operated by the whale on BTC China that exploited the maker taker bot.

Can I read up on this duel anywhere?

[MatTheCat]

Having watched a whale rape a market momentum bot on BTC China I can assure it does not all go the bots way.

It's not the dumb bots that we are complaining about. Its the shark bots, like the one operated by the whale on BTC China that exploited the maker taker bot.

Can I read up on this duel anywhere?

Fuck knows.

I watched it unfold in 'real time'. Was interesting to watch the way the shark bot manipulated the Bid/Ask walls to instigate the retard bot(s) into cutting its own throat time and time again until the margins became smaller to infinity, and then at some point the bot was switched off. It happened at about 2am Beijing time, when everyone was in their bed.

If you go to Bitcoincharts and search for a 15 minute charts on 30th/31st January, you will at least see how the action played out when all was said and done.

[johnny211]

I watched it unfold in 'real time'. Was interesting to watch the way the shark bot manipulated the Bid/Ask walls to instigate the retard bot(s) into cutting its own throat time and time again until the margins became smaller to infinity, and then at some point the bot was switched off. It happened at about 2am Beijing time, when everyone was in their bed.

Crypto currency battle bots. Gotta love the time we live in ..

[Ibian]

It's not the dumb bots that we are complaining about. Its the shark bots, like the one operated by the whale on BTC China that exploited the maker taker bot.

That was pretty hilarious. Smart people make money on dumb people, as it should be. And the rest of us get some entertainment.