the long hard stairway to heaven?

[molecular]

Probably everyone notices these 5000 BTC asks spaced evenly every 0.05 USD.



couldn't find a thread about this...

What does everyone think what the intentions of the person/group doing this are?

[Yuhfhrh]

Cost averaging I suppose

[thezerg]

I think it means that whoever was putting up those huge ask walls a few weeks ago is now a script kiddie

[molecular]

I think it means that whoever was putting up those huge ask walls a few weeks ago is now a script kiddie

lol, except the script got lazy above 11 and increased the size and space... to may be manual after all

[DublinBrian]

The ask stairway is in the euro market as well.

[jimbobway]

Walls are too easily spotted so a staircase was built but it still acts like a wall.  Good try, manipulator.

[byronbb]

Prevents price from rising. Someone with a lot of coins might be waiting on a wire...........

[nibor]

Assuming it is all the same person that is a lot of BTC to have sitting in a MtGox account!

[molecular]

Walls are too easily spotted so a staircase was built but it still acts like a wall.  Good try, manipulator.

manipulator should have a talk with randomizer

[herzmeister]

^ harr, nice

[molecular]

^ harr, nice

hehe, +1 nice one, myself.

[unclescrooge]

Same wall on mtgox usd and mtgox eur.

Can it be the same coins, or does it mean there is 400 000 coins in the hand of one person? (who the hell could it be...)

[muyuu]

If someone needs a large amount of coins, he's going to need to climb that.

[Gyrsur]

If someone needs a large amount of coins, he's going to need to climb that.

pirateat40

[bitcool]

For the true believers, stairs to the heaven is a gift (bitcoin) God sent. 

[Savior]

Wish I had a few million dollars on mtgox now

[Endgame]

Is the stairway to heaven a permanent fixture, or only there at night? This could give us a clue to its maker's intentions

[morkai421]

Can this stairway be fake ? Does it represent actual btc ? If I had 10.000 and placed multiple ask, which one would be shown on the wall ?


If this wall/stairway is real, then a rally seems difficult.
I suspect lots of USD sits on mtgox, waiting for an hypothetical sizeable drop in price secondary to a panic sell. What could cause this panic sell ? A large dump. If this dump is a speculation move (trying to bring the price down to buy low), it could be  risky for the one doing it, because lots of people are waiting for an opportunity to buy low too.
It could be a dump from people wanting out of the bitcoin wold for various reason. I doubt it, but feel free to correct me.

[molecular]

it's to intimidate the bulls and try to prevent a rally

[unclescrooge]

So far it's working, price is stable like a corpse.