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JorgeStolfi
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June 21, 2015, 04:01:35 AM |
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What is Willey bot? Something Mt. Gox used to inflate the price?
People claim that the Willy Bot (an account backed by no real assets) was used to continually push the price up on MT Gox, and therefore, that it caused the bubble. I think that's crazy talk. The demand was clearly there, and the market was much bigger than Gox -- even at that time. I haven't looked very closely at the latest reports, but my conclusions so far are (1) one cannot understand what happened in MtGOX by analyzing only the data that is available from the database leak -- which, according to the Japanese Police, appears to have been doctored. One would need also, at a minimum, actual withdrawal and deposit records. The Japanese Police surely has those for fiat; it is not clear whether they have data for BTC too. (2) my guess as to Willy is that it was doing (probably fraudulent) arbitrage: buying bitcoins from MtGOX clients to in order to sell them in China. The money that Willy used was probably inexistent -- essentially, unbacked credit provided by MtGOX. Perhaps the bitcoins had been sold in China or elsewhere earlier, and Willy's purpose only to cover up the embezzlement/theft by turning the missing bitcoins into missing fiat. Perhaps Willy's owner expected to get the money later somehow. Who knows. (3) But, in any case, Willy does not seem to have been responsible for the Nov/2013 bubble. Comparison of prices across exchanges shows that the prices in China were higher than in the West (even higher than MtGOX) during the rally, and lower during the Dec/2013 crash; which suggests that the Chinese exchanges were pulling, and the Western ones were lagging behind. |
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AceWallen
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June 21, 2015, 04:20:16 AM |
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What is Willey bot? Something Mt. Gox used to inflate the price?
People claim that the Willy Bot (an account backed by no real assets) was used to continually push the price up on MT Gox, and therefore, that it caused the bubble. I think that's crazy talk. The demand was clearly there, and the market was much bigger than Gox -- even at that time. I haven't looked very closely at the latest reports, but my conclusions so far are (1) one cannot understand what happened in MtGOX by analyzing only the data that is available from the database leak -- which, according to the Japanese Police, appears to have been doctored. One would need also, at a minimum, actual withdrawal and deposit records. The Japanese Police surely has those for fiat; it is not clear whether they have data for BTC too. (2) my guess as to Willy is that it was doing (probably fraudulent) arbitrage: buying bitcoins from MtGOX clients to in order to sell them in China. The money that Willy used was probably inexistent -- essentially, unbacked credit provided by MtGOX. Perhaps the bitcoins had been sold in China or elsewhere earlier, and Willy's purpose only to cover up the embezzlement/theft by turning the missing bitcoins into missing fiat. Perhaps Willy's owner expected to get the money later somehow. Who knows. (3) But, in any case, Willy does not seem to have been responsible for the Nov/2013 bubble. Comparison of prices across exchanges shows that the prices in China were higher than in the West (even higher than MtGOX) during the rally, and lower during the Dec/2013 crash; which suggests that the Chinese exchanges were pulling, and the Western ones were lagging behind. excellent summation, and fully agreed. anyone who was around at that time should know that China was calling the shots during the November 2013 bubble. |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 21, 2015, 04:57:16 AM |
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Fatman3001
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Make Bitcoin glow with ENIAC
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June 21, 2015, 04:57:52 AM |
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Bitcoiner2015
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June 21, 2015, 05:08:46 AM |
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 It doesn't look crazy bullish, I don't really get all the gifs though! Yes/no. Wake me up when we get to $300.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 21, 2015, 05:57:23 AM |
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1FfmbHfnpaZjKFvyi1okTjJJu
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Im not 1FfmbHfnpaZjKFvyi1okTjJJusN455paPH
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June 21, 2015, 06:07:00 AM |
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It doesn't look crazy bullish, I don't really get all the gifs though! Yes/no. Wake me up when we get to $300. We will hit 350$ don't Sleep OR You Missed the Train |
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JorgeStolfi
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June 21, 2015, 06:44:34 AM |
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Volume is very low ad the price has been extremely flat for ~3 hours in the Chinese exchanges.
That started 12:00 and it is now 15:00, Sunday, in local time. A soccer match does not last that long...
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inca
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June 21, 2015, 06:56:36 AM |
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Shorts up to nearly 22k and still rising...
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ChartBuddy
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June 21, 2015, 06:57:47 AM |
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oxiyusuf
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June 21, 2015, 07:10:41 AM |
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Volume is very low ad the price has been extremely flat for ~3 hours in the Chinese exchanges.
That started 12:00 and it is now 15:00, Sunday, in local time. A soccer match does not last that long...
just relax, I think it would be fairly stable bitcoin 2 days ahead, if there is no news or new issue |
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1FfmbHfnpaZjKFvyi1okTjJJu
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Im not 1FfmbHfnpaZjKFvyi1okTjJJusN455paPH
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June 21, 2015, 07:33:17 AM |
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Volume is very low ad the price has been extremely flat for ~3 hours in the Chinese exchanges.
That started 12:00 and it is now 15:00, Sunday, in local time. A soccer match does not last that long...
just relax, I think it would be fairly stable bitcoin 2 days ahead, if there is no news or new issue cointelegraph.com/news/114621/quiet-optimism-traditional-forex-is-embracing-bitcoin |
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ChartBuddy
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June 21, 2015, 07:57:39 AM |
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Karartma1
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June 21, 2015, 08:32:58 AM |
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It doesn't look crazy bullish, I don't really get all the gifs though! Yes/no. Wake me up when we get to $300. We will hit 350$ don't Sleep OR You Missed the Train I guess you sleep and daydream. We can't even see 250, what are you talking about? 350 BS. |
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Dump3er
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June 21, 2015, 08:34:47 AM |
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You are aware of that we saw all those and a lot more gifs since ~1250. And you surely also know that the Bears always formed a small minority amidst all those shouting bulls. All this and a lot more didn't prevent the price from crashing and further crashing. So keep on shooting around with Gifs and keep on claiming how wrong all the bears are. It won’t help you  |
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inca
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June 21, 2015, 08:46:47 AM |
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Bears have been wrong for six months.
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ChartBuddy
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June 21, 2015, 08:57:10 AM |
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luckygenough56
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June 21, 2015, 09:01:51 AM |
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tis so different
...this time
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Fatman3001
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Make Bitcoin glow with ENIAC
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June 21, 2015, 09:06:28 AM
Last edit: June 21, 2015, 10:06:02 AM by Fatman3001 |
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You are aware of that we saw all those and a lot more gifs since ~1250. And you surely also know that the Bears always formed a small minority amidst all those shouting bulls. All this and a lot more didn't prevent the price from crashing and further crashing. So keep on shooting around with Gifs and keep on claiming how wrong all the bears are. It won’t help you This one's for you |
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klee
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June 21, 2015, 09:07:52 AM |
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Make love not dump
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Poll
