How To Defeat Pirate

[jimbobway]

Buy low and sell high.  It is as simple as that.  Pirate wants you to buy high and sell low and will take your money and or bitcoins.

Have a reserve of USD readily available on Mt. Gox.  When the price drops then buy bitcoins on dips.  When bitpay did this a few weeks ago pirate was not too happy.  Always have USD (or the currency of your choice) available and when the time comes don't panic, think smart, and try to cost average your purchases if you have too.

Here is what they said:

Pirate likes to buy high and sell low, with other people's money.

if you buy at 8.00 or below, and sell at 9.00 or above, you can make money trading against pirate too.  I've done that x6000 coins this week, earning me about a 25% return on my investment trading against pirate.

The biggest buy I made was 3200 BTC below 8 the first time pirate pushed it down there, and bragged that he had the 8.00 ask wall.  I sold all of those coins over $9.00 within 24 hours.  

Ooooooo... It's game on now.  Good luck!

https://bitcointalk.org/index.php?topic=94708.0

[niko]

^ this implies strategies might change, even reverse. Game theory at its best (or worst). Too messy for me to untangle, I'll just keep using btc as usual.

[CoinDiver]

What does anyone stand to gain by "defeating pirate"? I will be doing exactly as you indicated, but without regard for who's money I take. We should all try to do this. It will flatten the fluctuations, and lead to a quick recovery. The only reason the market has not risen is expectation of another drop. We will rebound from this. This isn't last year's BTC.

[ElectricMucus]

What does anyone stand to gain by "defeating pirate"? I will be doing exactly as you indicated, but without regard for who's money I take. We should all try to do this. It will flatten the fluctuations, and lead to a quick recovery. The only reason the market has not risen is expectation of another drop. We will rebound from this. This isn't last year's BTC.

Probably, the problem is even then if we don't exceed this years high immediately we will be going down even further. The reason I say this is that the selloff represents a 30day+ low.

[jimbobway]

What does anyone stand to gain by "defeating pirate"? I will be doing exactly as you indicated, but without regard for who's money I take. We should all try to do this. It will flatten the fluctuations, and lead to a quick recovery. The only reason the market has not risen is expectation of another drop. We will rebound from this. This isn't last year's BTC.

True, we are all trading against each other.  There will be winners and losers in this game and I don't want to be a loser.  If pirate is winning it is plausible that many are losing.  Let's balance the force.

[Raize]

It's actually a really simple strategy, any time he puts up those little 10 BTC bids, sell to them. If he forces the price down temporarily, wait 20 min, then start selling to those little bids again. He'll be forced to lower the price and put up his sell walls lower and lower, then you use the cash you gained to buy the walls, then he's stuck with even more cash that he can't get rid of without moving the price higher.

Course, you have to have the Bitcoin to sell.

[Spekulatius]

!!Adelante compañeros!!

[Elwar]

Hmm, last I checked Pirate has over 400k BTC, the most of anyone else.

His strategy is to buy high and sell low.

So...if you want to be rich like Pirate...buy high and sell low!

I am buying up a buttload right now hoping for a drop so I can sell sell sell!!!

PROFIT!

[VelvetLeaf]

[beekeeper]

!!Adelante compañeros!!

man.. awesome..

[ArticMine]

!!Adelante compañeros!!

Some interesting reading while we wait for the storm to come. http://en.wikipedia.org/wiki/Nathan_Mayer_Rothschild#Legend

[sippsnapp]

I still don't know if this is really what these pirate is doing but quite interesting of course.
Spent a little bit of time on a penny stock forum like ihub and you see these things all over.

[Rygon]

Ninjas.