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Author Topic: Wow! 8083BTC Bid at $10.70USD on MtGox!  (Read 1567 times)
AtomicTrader
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June 12, 2011, 05:12:03 AM
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Wow! Someone is betting on a massive rally Monday morning. He's got a 8000+ bid at 10.70. That's over $80,000. Nice!!!
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stordoff
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June 12, 2011, 05:13:49 AM
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With 8000BTC, he doesn't even need a massive rally. Even going up to $16 dollars would be a $40,000 profit if he sells slow to avoid crashing the price again.

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AtomicTrader
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June 12, 2011, 05:17:21 AM
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It's 9282 now! The Bid has huge support now.
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June 12, 2011, 05:19:15 AM
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It's great to see the panic sellers getting out. I've seen this in trading stocks. It's almost always a positive sign because it weeds out the more timid at heart. Up she'll go from there.
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June 12, 2011, 05:21:52 AM
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This is not so surprising. Many people have invested large amounts of cash when it began climbing. Also, some of the guys from olden days have saved a lot of coin and presumably have made a lot of money in the process.

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bitcoinewbie
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June 12, 2011, 05:23:00 AM
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You know, that could very well be the guy who just unloaded the massive amount that caused all the panic. That is exactly what i would do if i held enough coin to influence the market so much. sell tons high, drive prices low, people panic which drives prices lower, then you buy back in at the new low rates with massive profit. Granted, this would not work if people had bought into the system because they love the ideology of bitcoin rather than buying in because they love the idea of themselves getting rich fast, because then they would not have sold out of fear as it dipped.
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June 12, 2011, 05:24:50 AM
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Wow! Someone is betting on a massive rally Monday morning. He's got a 8000+ bid at 10.70. That's over $80,000. Nice!!!

It bottomed at $10.50 a few hours ago, so the order must be real new. He might need to raise his bid, or not get any.

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June 12, 2011, 05:31:11 AM
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You know, that could very well be the guy who just unloaded the massive amount that caused all the panic. That is exactly what i would do if i held enough coin to influence the market so much. sell tons high, drive prices low, people panic which drives prices lower, then you buy back in at the new low rates with massive profit. Granted, this would not work if people had bought into the system because they love the ideology of bitcoin rather than buying in because they love the idea of themselves getting rich fast, because then they would not have sold out of fear as it dipped.

If what you're saying were true, that person would have to be either really dumb (to sell high and buy low, hoping the market would climb back high enough and stay there long enough for him to recoup his losses AND make a profit on top of that), or really confident that he could manipulate it into going back up to take his profit.

I'd lean towards the former.
Alex-Z
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June 12, 2011, 05:36:18 AM
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It's a great time to buy, the market will go back up
Bitcoin Swami
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June 12, 2011, 05:36:30 AM
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I'd love to get some before monday.
bitcoinewbie
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June 12, 2011, 05:36:56 AM
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You know, that could very well be the guy who just unloaded the massive amount that caused all the panic. That is exactly what i would do if i held enough coin to influence the market so much. sell tons high, drive prices low, people panic which drives prices lower, then you buy back in at the new low rates with massive profit. Granted, this would not work if people had bought into the system because they love the ideology of bitcoin rather than buying in because they love the idea of themselves getting rich fast, because then they would not have sold out of fear as it dipped.

If what you're saying were true, that person would have to be either really dumb (to sell high and buy low, hoping the market would climb back high enough and stay there long enough for him to recoup his losses AND make a profit on top of that), or really confident that he could manipulate it into going back up to take his profit.

I'd lean towards the former.

Um.. I think you got it backwards. sell high, buy low = profit   sell low, buy high = loss

think about it this way, if you have 1 btc and you sell it at 30 usd, then you buy 1 btc at 10 usd you still have a btc plus 20 dollars profit, get it?
1.21gigawatts
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June 12, 2011, 05:40:30 AM
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This makes a lot of sense to do this on a light trading day.  You don't want to unload a bunch of bitcoins into high volume and demand expecting to drive the price down, and then needing to chase the price up
SpaceLord
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June 12, 2011, 06:03:14 AM
 #13

I saw a 1 MILLION BTC Buy go through earlier tonight, for 14.  Shocked Shocked
bitcoinewbie
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June 12, 2011, 06:20:17 AM
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I saw a 1 MILLION BTC Buy go through earlier tonight, for 14.  Shocked Shocked

reference? i can't find that.
SpaceLord
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June 12, 2011, 06:36:28 AM
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I saw a 1 MILLION BTC Buy go through earlier tonight, for 14.  Shocked Shocked

reference? i can't find that.

Ok, I might have been dreaming... Let me look.
deadon
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June 12, 2011, 07:17:05 AM
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Where are you seeing these large orders going through? Link...
killer2021
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June 12, 2011, 07:22:15 AM
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Where are you seeing these large orders going through? Link...

Same, where can you see the data on mtgox?

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bitcoinewbie
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June 12, 2011, 07:31:51 AM
 #18

http://www.bitcoincharts.com/markets/mtgoxUSD_trades.html

but there is no sign of a 1mil btc transaction..

oh, off topic but, since there is alot of expectation of a rally monday, the rally very likely starts sunday night before the monday bank transfer crowd starts buying so people can ride the wave... don't forget, there i alot of USD in mt. gox right now belonging to the people who sold to bring us this recent dip.
SpaceLord
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June 12, 2011, 07:40:43 AM
 #19

I saw a 1 MILLION BTC Buy go through earlier tonight, for 14.  Shocked Shocked

reference? i can't find that.

Ok, I might have been dreaming... Let me look.

I just looked again. It was a 1,000.00 coin transaction. I was distracted, and misread the number. Sorry!  Lips sealed
mg101
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June 12, 2011, 01:26:13 PM
 #20

lol

no wonder i couldn't find anything related...
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