Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[NamelessOne]

So what is with those 10-20btc buys on gox every few minutes. They are going on for 4 days now... Not that I don't like them , but lots of btc should be in that wallet till now (if it is one buyer - bot).

People have been calling that the Willy bot. He has been buying 15-17 bitcoins every seven to ten minutes since Christmas, turned off a couple times. Many are theorizing that Gox owns it since it was the only thing capable of trading last week when Gox went off line. Yet it kept trading for an hour and a half, slowly pushing the price up while no one else could do anything.

[ChartBuddy]

Explanation

[Dragonkiller]

So what is with those 10-20btc buys on gox every few minutes. They are going on for 4 days now... Not that I don't like them , but lots of btc should be in that wallet till now (if it is one buyer - bot).

People have been calling that the Willy bot. He has been buying 15-17 bitcoins every seven to ten minutes since Christmas, turned off a couple times. Many are theorizing that Gox owns it since it was the only thing capable of trading last week when Gox went off line. Yet it kept trading for an hour and a half, slowly pushing the price up while no one else could do anything.

to be fair, if you're buying ~$2m in bitcoin everyday, you probably have special priviledges with gox, so the fact it was running whilst gox was down probably doesn't prove anything

[fonzie]

You might consider that this Bot is probably buying his own coins/asks. Since the asks gets pushed lower every time a normal user(if there should be any left there) are putting a ask order in between. Without this Bot volume would go down about 80% more. Putting Gox in a league with Cryptsy - Kraken, lol.

[mah87]

VOTE FOR YOUR FAVORITE TRADING TOOLS !!

https://bitcointalk.org/index.php?topic=424420.new#new

Thank you !

[WeltMaster]

You might consider that this Bot is probably buying his own coins/asks. Since the asks gets pushed lower every time a normal user(if there should be any left there) are putting a ask order in between. Without this Bot volume would go down about 80% more. Putting Gox in a league with Cryptsy - Kraken, lol.

I still trade on Gox among others I know, it's been a pretty flawless service besides April.

100% to increase my btc holdings mind you, but I think there's still a few who have faith.

Besides, with a 10% increase in price, if you don't mind waiting a few weeks (if you think the price will slowly decline down for example) it's a smart move to buy on another exchange and withdraw from Gox, easy arbitrage.



Huobi is looking dangerous..

[NamelessOne]

So what is with those 10-20btc buys on gox every few minutes. They are going on for 4 days now... Not that I don't like them , but lots of btc should be in that wallet till now (if it is one buyer - bot).

People have been calling that the Willy bot. He has been buying 15-17 bitcoins every seven to ten minutes since Christmas, turned off a couple times. Many are theorizing that Gox owns it since it was the only thing capable of trading last week when Gox went off line. Yet it kept trading for an hour and a half, slowly pushing the price up while no one else could do anything.

to be fair, if you're buying ~$2m in bitcoin everyday, you probably have special priviledges with gox, so the fact it was running whilst gox was down probably doesn't prove anything

Indeed, the special privileges theory is also an option. There is no proof for anything at this point.

[mah87]

I know some people already read that but it's important

PLEASE VOTE FOR YOUR FAVORITES TRADING TOOLS !

https://bitcointalk.org/index.php?topic=424420.new#new

Thank you !

[virtualfaqs]

You might consider that this Bot is probably buying his own coins/asks. Since the asks gets pushed lower every time a normal user(if there should be any left there) are putting a ask order in between. Without this Bot volume would go down about 80% more. Putting Gox in a league with Cryptsy - Kraken, lol.

I still trade on Gox among others I know, it's been a pretty flawless service besides April.

100% to increase my btc holdings mind you, but I think there's still a few who have faith.

Besides, with a 10% increase in price, if you don't mind waiting a few weeks (if you think the price will slowly decline down for example) it's a smart move to buy on another exchange and withdraw from Gox, easy arbitrage.



Huobi is looking dangerous..

Mtgox has no verified USD withdrawals since Sept 2013. Even EU withdrawals is like once a month for a small amount.

[fluidjax]

So many bears with illogical tin foil hat theories talking their book.
I hate censorship, but my ignore list has grown enormously.

[prof7bit]

Many are theorizing that Gox owns it since it was the only thing capable of trading last week when Gox went off line. Yet it kept trading for an hour and a half, slowly pushing the price up while no one else could do anything.

Doesn't make sense. Gox wants the price to go down, not up, and they also need USD. If they wanted to secretly buy BTC they would do it at bitstamp.

Also you don't know who was able to trade, bots usually use one of the available APIs to trade, they often continue to work even if the www site is down. Please tell the exact date and time this happened (in UTC) so I can look up the logs of my bot.

[ChartBuddy]

Explanation

[WeltMaster]

You might consider that this Bot is probably buying his own coins/asks. Since the asks gets pushed lower every time a normal user(if there should be any left there) are putting a ask order in between. Without this Bot volume would go down about 80% more. Putting Gox in a league with Cryptsy - Kraken, lol.

I still trade on Gox among others I know, it's been a pretty flawless service besides April.

100% to increase my btc holdings mind you, but I think there's still a few who have faith.

Besides, with a 10% increase in price, if you don't mind waiting a few weeks (if you think the price will slowly decline down for example) it's a smart move to buy on another exchange and withdraw from Gox, easy arbitrage.



Huobi is looking dangerous..

Mtgox has no verified USD withdrawals since Sept 2013. Even EU withdrawals is like once a month for a small amount.

Ahhh that would explain it..

[notme]

So what is with those 10-20btc buys on gox every few minutes. They are going on for 4 days now... Not that I don't like them , but lots of btc should be in that wallet till now (if it is one buyer - bot).

People have been calling that the Willy bot. He has been buying 15-17 bitcoins every seven to ten minutes since Christmas, turned off a couple times. Many are theorizing that Gox owns it since it was the only thing capable of trading last week when Gox went off line. Yet it kept trading for an hour and a half, slowly pushing the price up while no one else could do anything.

You keep saying this, but it is still not true.  My bot made it though that just fine.  Just because one API is down doesn't mean all four are.  You must be looking for conspiracy to find one where there is none.

[greenlion]

Mtgox has no verified USD withdrawals since Sept 2013. Even EU withdrawals is like once a month for a small amount.

It baffles me why anybody even considers gox an exchange anymore, when you can't actually exchange.

[billyjoeallen]

An exponential log chart? is this the end of the world??

No, as the chart bases on MtGox, this "exponential correction" just accounts for fiat withdrawal troubles...

Has anyone managed to get fiat out of gox. I have about 2.5k in there

had $2000 left there myself. waited over two months before I gave up, cut my losses and converted back to BTC at their outrageously inflated prices, but at least i got something. FtGox is dying running out of coins to trade. that's hwy the price is so high there. I lost close to 20%.  Mark pissed away a billion dollar opportunity with that company.

[greenlion]

had $2000 left there myself. waited over two months before I gave up, cut my losses and converted back to BTC at their outrageously inflated prices, but at least i got something. FtGox is dying running out of coins to trade. that's hwy the price is so high there. I lost close to 20%.  Mark pissed away a billion dollar opportunity with that company.

The only possible use for gox anymore is to trade on volatility to increase your BTC position, then move the BTC elsewhere. That begs the question though, why not just do the same thing somewhere else?

[WeltMaster]

Mtgox has no verified USD withdrawals since Sept 2013. Even EU withdrawals is like once a month for a small amount.

But you can withdraw JPY and PLZ without problem... (anyone knows if also GBP?)! And people with so much money, probably don't have problems with getting Polish or Japanes business accounts in one of the banks  

GBP works for me, took 24 days mind you. <1k

had $2000 left there myself. waited over two months before I gave up, cut my losses and converted back to BTC at their outrageously inflated prices, but at least i got something. FtGox is dying running out of coins to trade. that's hwy the price is so high there. I lost close to 20%.  Mark pissed away a billion dollar opportunity with that company.

The only possible use for gox anymore is to trade on volatility to increase your BTC position, then move the BTC elsewhere. That begs the question though, why not just do the same thing somewhere else?

I find gox to be more volatile, if you're right then there will be a greater panic to get money out, more panic, more volatility. And people like staying if they are comfortable, most people only had to deal with the lag.

[Chancellor]

But you can withdraw JPY and PLZ without problem...

Don't know about yen, but for PLN it is not true anymore. Currently PLN withdrawal is as hard (or as easy, depends on point of view) as EUR one. So better than USD, but still a month is to be expected.

[adamstgBit]