Whats the sense of ask-orders like this

[btcLeger]

Actually to be seen on the Real Time Bitcoin Market Data:

ASK           SIZE
20.188   0.0005   
20.1882   0.0004   
20.1883   0.0004   
20.1884   0.0003   
20.1885   0.0006   
20.1886   0.0008   
20.1888   0.0004   
20.1889   0.0010   
20.1893   0.0015   
20.1894   0.0014   
20.1895   0.0014   
20.1897   0.0012   
20.1898   0.0012   

I dont get it. Suggestions? Ideas? Conspiracy theories? Anyone?

[1715387045]

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[1715387045]

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[1715387045]

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[Jack of Diamonds]

The price goes progressively up, displays as such on the charts & live feed, and you can buy from yourself to make the price appear to have risen quickly.
Since the transaction amounts are so small, the Gox fees don't effect you in anyway.

I must admit I've used this a few times to create a couple-dollar rallies. But not with a bot, just manually.
Mt. Gox allows unlimited transactions per day at any specified amount of BTC so that's what's making it possible.

There is no risk of failure either, because you buy the small bids yourself, driving the price up a bit every time.

[AyeYo]

The price goes progressively up, displays as such on the charts & live feed, and you can buy from yourself to make the price appear to have risen quickly.
Since the transaction amounts are so small, the Gox fees don't effect you in anyway.

I must admit I've used this a few times to create a couple-dollar rallies. But not with a bot, just manually.
Mt. Gox allows unlimited transactions per day at any specified amount of BTC so that's what's making it possible.

There is no risk of failure either, because you buy the small bids yourself, driving the price up a bit every time.

This.  It could also be someone trying to front run a large sell order at 20.19.

[dumb_mother]

i question the importance of trying to manipulate the price up by 2/10 of 1 cent.  i'm not sure you could achieve any kind of true manipulation with those orders, but then again i'm sure the bots people are running are quite unsophisticated still so maybe it would accomplish something.  i can't really see the point of entering orders like this though.

[tonto]

MtGox won't let me put in orders smaller than 0.1 

Everytime I put in a value less than 0.1 (such as 0.05), it gets red and won't accept it.  How are people doing that?

[tonto]

or are that data from a different exchange site?

[molecular]

MtGox won't let me put in orders smaller than 0.1 

Everytime I put in a value less than 0.1 (such as 0.05), it gets red and won't accept it.  How are people doing that?

use the mtgox trading api: https://mtgox.com/support/tradeAPI

[tonto]

hmm I enter the URL and appropriate values, and it returns this error:

{"error":"Not logged in. Log in<\/a>"}
 
Any ideas?  I know I'm using the right login/pass.

[padrino]

hmm I enter the URL and appropriate values, and it returns this error:

{"error":"Not logged in. Log in<\/a>"}
 
Any ideas?  I know I'm using the right login/pass.

You can't do it in the address bar of your browser (without a dev plugin of some kind), you need to POST those URLs. If you want an easy client toytrader comes to mind, it's a CLI php based trader.

[YoYa]

Someone's playing games with the order book again this morning:
08:31:46 > Add Bid 0.068 @ 0.0123457
08:31:45 > Add Bid 0.058 @ 0.0123457
08:31:45 > Add Bid 0.177 @ 0.0123457
08:31:44 > Add Bid 0.114 @ 0.0123457
08:31:44 > Add Bid 0.608 @ 0.0123457
08:31:44 > Add Bid 0.311 @ 0.0123457
08:31:43 > Add Bid 0.001 @ 0.0123457
08:31:43 > Add Bid 0.449 @ 0.0123457
08:31:42 > Add Bid 0.433 @ 0.0123457
08:31:42 > Add Bid 0.334 @ 0.0123457
08:31:42 > Add Bid 0.14 @ 0.0123457


What, why? It's not as if the value of BTC is just built in to one exchange.....

[FreeMoney]

Probably testing trailing orders script they wrote.