Dump and buy back (how to become a bitcoin millionare post mining era)

[vite]

Well after seeing the behaviour of the markets it hit me like a slap in the face.

its called the DUMP DDOS and Buy back strategy.

Requirements...

Ilegal bot net capable of taking out one or several exchanges at once.

A trade bot that is trained to sell when pre-DDOS and buy back when the attack is done.

If all is done correctly then you will always gain a spread cause market seems to drop a bit during the DDOS attack.

If im not wrong the only way to avoid this is having the markets adjust to the attacks by "creating markets" hence buying or selling (depending on the nature of the attack) to prevent price corrections from the attacks.

If the volume is right then this preventive buy and sell orders would be made up in fees and render the DDOS attacks ineffective cause they would not generate the required spread to make a profit.

Just thinking out loud

Vite

[Wardrick]

That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying.

[myrkul]

That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying.

People are dumb?

[b!z]

That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying.

Mt Gox down = OMG BTC IS DAED SELL SELL SELL

[molecular]

That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying.

People are dumb?

it creates uncertainty. uncertainty creates fear. fear induces selling (in those who think USD is more trustworthy than BTC)

[myrkul]

That doesn't even make sense that Bitcoins drop during a DDos. Why wouldn't people just go off the last buy/sell/avg price until the exchange comes back up instead of panic selling/buying.

People are dumb?

it creates uncertainty. uncertainty creates fear. fear induces selling (in those who think USD is more trustworthy than BTC)

[tysat]

Haha, that should be posted everywhere!

[myrkul]

Haha, that should be posted everywhere!

Indeed. Tempted to hang it on my wall.

(Thanks to Frank Herbert, btw)

[molecular]

Haha, that should be posted everywhere!

Indeed. Tempted to hang it on my wall.

(Thanks to Frank Herbert, btw)

just printed it