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

[fonzie]

I found an exploit on bitfinex where I'm able to place an ulimited amount of orders on margin trading without having the liquidity to do so and I can manipulate the order book. I'm not attempting to manipulate the market right now - I just wanted to demonstrate this exploit. Please fix it.

Edit:
All buy walls on all exchanges are mostly fake. BTC isn´t worth more than 200 bucks.

[surfer43]

Bitcoin to the moon! 

yeah I never thought you would say that 
welcome to the bull side 

[seriouscoin]

Bitcoin to the moon!  

yeah I never thought you would say that  
welcome to the bull side  

Hes always been a bull..... spreading FUD and trolling to scare noobs in order to buy lower.

Pigs get slaughtered. Business as usual.... Welcome to the forums if this is what you just noticed (90% of posts yelling doom, the other 10% are just clueless noob)

[Mythul]

I found an exploit on bitfinex where I'm able to place an ulimited amount of orders on margin trading without having the liquidity to do so and I can manipulate the order book. I'm not attempting to manipulate the market right now - I just wanted to demonstrate this exploit. Please fix it.

Edit:
All buy walls on all exchanges are mostly fake. BTC isn´t worth more than 200 bucks.

Fonzie you are a legend on this forum.

[ChartBuddy]

Explanation

[KeyserSoze]

...for some God is awesome.  The price of BTC is not, nor never will be, awesome.

Your mythology can be interesting but it's hardly awesome.

[surfer43]

...for some God is awesome.  The price of BTC is not, nor never will be, awesome.

Your mythology can be interesting but it's hardly awesome.

What mythology? 

[mmitech]

well I guess I was wrong all the way, congrats for the bears that called it, I knew there will a correction but I've never thought that 700 wont resist, most of the support was laying down there. unfortunately I cant benefit from this drop, or should I say thankfully ? all my bitcoins are tied up in other investments (IPOs, Startups), so there is no way for me to trade as I don't hold any of my bitcoins, I was thinking about a mid-long term investment of 80% of my holdings and cashed out the other 20%.

 now that I cant do anything with my bitcoins for at least 6 months, I feel released in some way   

[billyjoeallen]

Here's a hypothesis I haven't heard before: The willybot was wasn't in in-house bot for Gox, but for Second Market, who used the "world's most established exchange" to buy in bulk. Most of the purchases were dark pool orders, but when that pool dried up, willy went to work. Now Gox is locked up and Second Market needs another source of bulk coins, so under the guise of a two-way exchange, they are actually buying on behalf of the bitcoin Investment Trust (BIT).

If anyone has made a purchase from 2nd Market, I will be happy to revise or discard this hypothesis, but I'd like some feedback either way. If I'm right, liquidity is being soaked up under the RADAR at a scale few are aware of.

[fonzie]

Small hint, they can´t withdraw BTC from Gox....
Hint No.2 Why buy @ a 15-20% premium price...
If second Market was in January still so stupid to send money to Gox, then second market is doomed and dumber than any would have imagined


But hell yeah, sure, someone is silently buying alllllllll the coins cause they will go to 10000000$ this year

[creekbore]

...for some God is awesome.  The price of BTC is not, nor never will be, awesome.

Your mythology can be interesting but it's hardly awesome.

Well, the etymology for the word is closely linked to religion and ideas of God; I said 'for some' to try and be inclusive.  I was more protesting the ubiquitousness of 'awesome' which has been deflated to mean ...ahh you know.

What amazes me is that I lived in the US in the late eighties and kids were saying "awesome" then; its somehow managed to stay in fashion for 30 years and become a lazy global adjective.

[wilfried]

Here's a hypothesis I haven't heard before: The willybot was wasn't in in-house bot for Gox, but for Second Market, who used the "world's most established exchange" to buy in bulk. Most of the purchases were dark pool orders, but when that pool dried up, willy went to work. Now Gox is locked up and Second Market needs another source of bulk coins, so under the guise of a two-way exchange, they are actually buying on behalf of the bitcoin Investment Trust (BIT).

If anyone has made a purchase from 2nd Market, I will be happy to revise or discard this hypothesis, but I'd like some feedback either way. If I'm right, liquidity is being soaked up under the RADAR at a scale few are aware of.

well, i thing for an exchange service it would be easier to use your inside knowledge to give you nice trading hints, so i dont really believe in that story - and if its true, how do they hide from the blockchain?

[Parazyd]

Start buying. Cheap coins

[Dragonkiller]

Here's a hypothesis I haven't heard before: The willybot was wasn't in in-house bot for Gox, but for Second Market, who used the "world's most established exchange" to buy in bulk. Most of the purchases were dark pool orders, but when that pool dried up, willy went to work. Now Gox is locked up and Second Market needs another source of bulk coins, so under the guise of a two-way exchange, they are actually buying on behalf of the bitcoin Investment Trust (BIT).

If anyone has made a purchase from 2nd Market, I will be happy to revise or discard this hypothesis, but I'd like some feedback either way. If I'm right, liquidity is being soaked up under the RADAR at a scale few are aware of.

Surely it would be easier for them to just move to Bitstamp?

[ChartBuddy]

Explanation

[billyjoeallen]

Here's a hypothesis I haven't heard before: The willybot was wasn't in in-house bot for Gox, but for Second Market, who used the "world's most established exchange" to buy in bulk. Most of the purchases were dark pool orders, but when that pool dried up, willy went to work. Now Gox is locked up and Second Market needs another source of bulk coins, so under the guise of a two-way exchange, they are actually buying on behalf of the bitcoin Investment Trust (BIT).

If anyone has made a purchase from 2nd Market, I will be happy to revise or discard this hypothesis, but I'd like some feedback either way. If I'm right, liquidity is being soaked up under the RADAR at a scale few are aware of.

well, i thing for an exchange service it would be easier to use your inside knowledge to give you nice trading hints, so i dont really believe in that story - and if its true, how do they hide from the blockchain?

If BIT had an account at Gox, then those purchases would be off the blockchain until they withdrew them. Besides, blockchain analysis only works if you know who holds the keys to the public addresses.

[billyjoeallen]

Here's a hypothesis I haven't heard before: The willybot was wasn't in in-house bot for Gox, but for Second Market, who used the "world's most established exchange" to buy in bulk. Most of the purchases were dark pool orders, but when that pool dried up, willy went to work. Now Gox is locked up and Second Market needs another source of bulk coins, so under the guise of a two-way exchange, they are actually buying on behalf of the bitcoin Investment Trust (BIT).

If anyone has made a purchase from 2nd Market, I will be happy to revise or discard this hypothesis, but I'd like some feedback either way. If I'm right, liquidity is being soaked up under the RADAR at a scale few are aware of.

Surely it would be easier for them to just move to Bitstamp?

unless the amount of coins in Stamp's dark pool is insufficient for their needs.

[Dragonkiller]

Here's a hypothesis I haven't heard before: The willybot was wasn't in in-house bot for Gox, but for Second Market, who used the "world's most established exchange" to buy in bulk. Most of the purchases were dark pool orders, but when that pool dried up, willy went to work. Now Gox is locked up and Second Market needs another source of bulk coins, so under the guise of a two-way exchange, they are actually buying on behalf of the bitcoin Investment Trust (BIT).

If anyone has made a purchase from 2nd Market, I will be happy to revise or discard this hypothesis, but I'd like some feedback either way. If I'm right, liquidity is being soaked up under the RADAR at a scale few are aware of.

Surely it would be easier for them to just move to Bitstamp?

unless the amount of coins in Stamp's dark pool is insufficient for their needs.

Do we know for a fact dark pools exist?

Also does anyone know how many coins willy bought in total? I think it has bought a lot more than the BIT has reported over the past couple of months.

I always thought willy was a bot buying for a fund, although I'm not sure if it was for Second Market and I don't think Second Market is using the guise of an exchange to add to their trust (at least I don't think that is their primary goal; I think they're genuinely moving towards offering a reputable exchange).

[fonzie]

[billyjoeallen]

Here's a hypothesis I haven't heard before: The willybot was wasn't in in-house bot for Gox, but for Second Market, who used the "world's most established exchange" to buy in bulk. Most of the purchases were dark pool orders, but when that pool dried up, willy went to work. Now Gox is locked up and Second Market needs another source of bulk coins, so under the guise of a two-way exchange, they are actually buying on behalf of the bitcoin Investment Trust (BIT).

If anyone has made a purchase from 2nd Market, I will be happy to revise or discard this hypothesis, but I'd like some feedback either way. If I'm right, liquidity is being soaked up under the RADAR at a scale few are aware of.

Surely it would be easier for them to just move to Bitstamp?

unless the amount of coins in Stamp's dark pool is insufficient for their needs.

Do we know for a fact dark pools exist?

Also does anyone know how many coins willy bought in total? I think it has bought a lot more than the BIT has reported over the past couple of months.

I always thought willy was a bot buying for a fund, although I'm not sure if it was for Second Market and I don't think Second Market is using the guise of an exchange to add to their trust (at least I don't think that is their primary goal; I think they're genuinely moving towards offering a reputable exchange).

Gox openly admits they have dark pools. So does CampBX, but I'm unsure about Stamp. Moving towards a reputable exchange and stocking up on coins for Hedge funds are not mutually exclusive. If I had to guess, Circle.com is going to open an exchange, so their may be competition in New York, which would mean downward pressure on trading fees. We ca only hope for now.