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

[inca]

Anyone else watching that bot on finex? It's doing 0.21 (~$80) market buys every 7 seconds trying to keep the price up

Bots are nothing new. They just do what the buyers and sellers should. That is get the best price for a position.

I think these bots, at least ones so blatant, are bad for the image of BTC. We really do need to get away from bucket-shop exchanges. I, honestly, think we'd have a higher price if the exchanges were more legitimate. That said, in the near term, it has solved the query of whether the price is going up or going down in the near term. So, I'm personally kind of chill with it. But, BFX is a total bucket shop.

It is just a regular user with a trading bot operating via the bitfinex API. I fail to see how that is bad for the image of BTC. Having 'child porn' listed as a use on the Wikipedia page is bad for the image.

In any case all legitimate trading exchanges are now front-run by HFT firms and are corrupted in this regard.

[Newbie1022]

Anyone else watching that bot on finex? It's doing 0.21 (~$80) market buys every 7 seconds trying to keep the price up

Bots are nothing new. They just do what the buyers and sellers should. That is get the best price for a position.

I think these bots, at least ones so blatant, are bad for the image of BTC. We really do need to get away from bucket-shop exchanges. I, honestly, think we'd have a higher price if the exchanges were more legitimate. That said, in the near term, it has solved the query of whether the price is going up or going down in the near term. So, I'm personally kind of chill with it. But, BFX is a total bucket shop.

It is just a regular user with a trading bot operating via the bitfinex API. I fail to see how that is bad for the image of BTC. Having 'child porn' listed as a use on the Wikipedia page is bad for the image.

In any case all legitimate trading exchanges are now front-run by HFT firms and are corrupted in this regard.

So, you don't think that it is an internal BFX bot. See, I'm thinking it is a BFX bot (FUD notice: I have no basis for this, just looks and feels that way to me).

[Walsoraj]

http://www.investopedia.com/terms/p/paintingthetape.asp

http://www.investopedia.com/terms/w/washtrading.asp

 

[ask]

Anyone else watching that bot on finex? It's doing 0.21 (~$80) market buys every 7 seconds trying to keep the price up

Bots are nothing new. They just do what the buyers and sellers should. That is get the best price for a position.

I think these bots, at least ones so blatant, are bad for the image of BTC. We really do need to get away from bucket-shop exchanges. I, honestly, think we'd have a higher price if the exchanges were more legitimate. That said, in the near term, it has solved the query of whether the price is going up or going down in the near term. So, I'm personally kind of chill with it. But, BFX is a total bucket shop.

It is just a regular user with a trading bot operating via the bitfinex API. I fail to see how that is bad for the image of BTC. Having 'child porn' listed as a use on the Wikipedia page is bad for the image.

In any case all legitimate trading exchanges are now front-run by HFT firms and are corrupted in this regard.

So, you don't think that it is an internal BFX bot. See, I'm thinking it is a BFX bot (FUD notice: I have no basis for this, just looks and feels that way to me).

I would like to see that this is internal bot. In that case this means that Bitfinex wants higher prices.

[madmat]

Anyone else watching that bot on finex? It's doing 0.21 (~$80) market buys every 7 seconds trying to keep the price up

Bots are nothing new. They just do what the buyers and sellers should. That is get the best price for a position.

I think these bots, at least ones so blatant, are bad for the image of BTC. We really do need to get away from bucket-shop exchanges. I, honestly, think we'd have a higher price if the exchanges were more legitimate. That said, in the near term, it has solved the query of whether the price is going up or going down in the near term. So, I'm personally kind of chill with it. But, BFX is a total bucket shop.

It is just a regular user with a trading bot operating via the bitfinex API. I fail to see how that is bad for the image of BTC. Having 'child porn' listed as a use on the Wikipedia page is bad for the image.

In any case all legitimate trading exchanges are now front-run by HFT firms and are corrupted in this regard.

So, you don't think that it is an internal BFX bot. See, I'm thinking it is a BFX bot (FUD notice: I have no basis for this, just looks and feels that way to me).

This bot is all but discreet. Can't be a bitfinex bot.

[SnokkomBTC]

tomorrow green macd candle 1 week ?

[ChartBuddy]

Explanation

[Newbie1022]

Anyone else watching that bot on finex? It's doing 0.21 (~$80) market buys every 7 seconds trying to keep the price up

Bots are nothing new. They just do what the buyers and sellers should. That is get the best price for a position.

I think these bots, at least ones so blatant, are bad for the image of BTC. We really do need to get away from bucket-shop exchanges. I, honestly, think we'd have a higher price if the exchanges were more legitimate. That said, in the near term, it has solved the query of whether the price is going up or going down in the near term. So, I'm personally kind of chill with it. But, BFX is a total bucket shop.

It is just a regular user with a trading bot operating via the bitfinex API. I fail to see how that is bad for the image of BTC. Having 'child porn' listed as a use on the Wikipedia page is bad for the image.

In any case all legitimate trading exchanges are now front-run by HFT firms and are corrupted in this regard.

So, you don't think that it is an internal BFX bot. See, I'm thinking it is a BFX bot (FUD notice: I have no basis for this, just looks and feels that way to me).

This bot is all but discreet. Can't be a bitfinex bot.

Good thinking. Good point.

[janos666]

Anyone else watching that bot on finex? It's doing 0.21 (~$80) market buys every 7 seconds trying to keep the price up

Bots are nothing new. They just do what the buyers and sellers should. That is get the best price for a position.

I think these bots, at least ones so blatant, are bad for the image of BTC. We really do need to get away from bucket-shop exchanges. I, honestly, think we'd have a higher price if the exchanges were more legitimate. That said, in the near term, it has solved the query of whether the price is going up or going down in the near term. So, I'm personally kind of chill with it. But, BFX is a total bucket shop.

It is just a regular user with a trading bot operating via the bitfinex API. I fail to see how that is bad for the image of BTC. Having 'child porn' listed as a use on the Wikipedia page is bad for the image.

In any case all legitimate trading exchanges are now front-run by HFT firms and are corrupted in this regard.

So, you don't think that it is an internal BFX bot. See, I'm thinking it is a BFX bot (FUD notice: I have no basis for this, just looks and feels that way to me).

This bot is all but discreet. Can't be a bitfinex bot.

Good thinking. Good point.

That's why this is the perfect disguise!

[inca]

Whoever is operating the bot has accumulated 1750 coins already apparently and according to a redditor is throttling the purchases to prevent it moving the price upwards. We are still four days away from the auction. What does someone know?

[Walsoraj]

Whoever is operating the bot has accumulated 1750 coins already apparently and according to a redditor is throttling the purchases to prevent it moving the price upwards. We are still four days away from the auction. What does someone know?

Buy the rumor, sell the news.

[Erdogan]

Anyone else watching that bot on finex? It's doing 0.21 (~$80) market buys every 7 seconds trying to keep the price up

Bots are nothing new. They just do what the buyers and sellers should. That is get the best price for a position.

I think these bots, at least ones so blatant, are bad for the image of BTC. We really do need to get away from bucket-shop exchanges. I, honestly, think we'd have a higher price if the exchanges were more legitimate. That said, in the near term, it has solved the query of whether the price is going up or going down in the near term. So, I'm personally kind of chill with it. But, BFX is a total bucket shop.

Some brain is behind each of them, they are not autonomous. It is just a way of saving work when you want to buy and sell small amounts, as in arbitraging or exploiting the spread. As long as there is no frontrunning, there is no problem.

[coinableS]

Whoever is operating the bot has accumulated 1750 coins already apparently and according to a redditor is throttling the purchases to prevent it moving the price upwards. We are still four days away from the auction. What does someone know?

yea this person/group has some deep pockets purchasing nearly 3 BTC every minute.

[Tzupy]

Bitcoin anonymity undermined:
https://www.cryptocoinsnews.com/luxembourg-researchers-unmask-bitcoin-users/

[inca]

Bitcoin anonymity undermined:
https://www.cryptocoinsnews.com/luxembourg-researchers-unmask-bitcoin-users/

First sentence: "One of the stated strengths of Bitcoin has, from the beginning, been its ability to provide anonymity and a sense of security on the same level that cash transactions do."

Bitcoin was never designed to be anonymous. However it remains trivial to use it in such a way as to hide your IP if you are so inclined. It seems safe to assume Tor is broken now.

Tzupy you are going to need to bring some world class FUD to move the price before the auction

[janos666]

Bitcoin anonymity undermined:
https://www.cryptocoinsnews.com/luxembourg-researchers-unmask-bitcoin-users/

I guess this is old news. The anonymous BTC-like crypto coin hype peaked months ago (DarkCoin, Monero, XC, NEOS + their clones + ZeroCash which never got finished/released in the form of ZeroCoin). They are way over the dump phase of the P$D. The anonymity hype seems to be dried up, at least for now.

[macsga]

Bitcoin anonymity undermined:
https://www.cryptocoinsnews.com/luxembourg-researchers-unmask-bitcoin-users/

I guess this is old news. The anonymous BTC-like crypto coin hype peaked months ago (DarkCoin, Monero, XC, NEOS + their clones + ZeroCash which never got finished/released). They are way over the dump phase of the P$D,  the anonymity hype seems to be dried up, at least for now.

Nothing "anonymous" happens online. Period.

[spooderman]

Bitcoin anonymity undermined:
https://www.cryptocoinsnews.com/luxembourg-researchers-unmask-bitcoin-users/

 It seems safe to assume Tor is broken now.

erm did I miss something?

[inca]

I suppose one 'angle of attack' against btc is to try and de-anonymise it as much as possible and kick away one leg propping up its price to a degree, dark web transactions. Even if that is just a perceived change of safety amongst potential users it could be effective.

Still it hasn't been an even remotely effective strategy with conventional bit torrent.

[Newbie1022]

This is a very FUDesque comment, but if not BFX, could it be the bear whale who is accumulating all of the coins for a dump?

I mean, he's got to lose money on dumps, anyways... maybe this is a way for him to at least minimize the lost money -- accumulate at a more or less fixed price.

Thoughts:
(1) BFX ramping up the price -- bullish;
(2) Somebody with an inside scoop trying to accumulate on the cheap -- bullish;
(3) Some nihilist who wants to see the entire world burn -- bearish