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Author Topic: Some1 is slowly flooding the market with coins!  (Read 1589 times)
TrainDeluxe
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June 16, 2011, 05:37:11 PM
 #1

Hey everyone,

I dunno if anyone noticed. But since hours one can see someone selling 0.15 BTC bits with small variations in price. It seems somebody decided to sell a big heap of coins without a big price drop on the market.

T.

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Drifter
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June 16, 2011, 05:44:17 PM
 #2

Happens all the time

TrainDeluxe
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June 16, 2011, 05:45:32 PM
 #3

Aaah, its Drifter selling! Smiley

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Drifter
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June 16, 2011, 05:46:32 PM
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No, but watching the market for weeks on end, this happens often, and usually you're right, about .15 bc. Just some bots trading, most likely.

TrainDeluxe
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June 16, 2011, 05:51:11 PM
 #5

Drifter, are they trading, or are they just selling big posistions in slices?

I cant see a trading strategy in this!

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2weiX
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June 16, 2011, 06:15:44 PM
 #6

Drifter, are they trading, or are they just selling big posistions in slices?

I cant see a trading strategy in this!

see, the strategy is this:

they sell itzy bitzy tiny amountses every 21,51 seconds (or whatever interval).

that ordertype is (to my knowledge) sometimes described as "CD" ("careful description") and enables the trader to even out the total execution price over a period of time.

if i sold 10.000 NOW, the price would be 10$ in a second or two.
if i sold 0,15 every 15 seconds for 3 days (3*24*60*60/4)
my activity would

- add liquidity to the market
- likely not disrupt pricing
- lead to a price being printed 4x/minute
and last not least
- probably end up having sold @ ~19 rather than 10.

so it is likely someone loading off... smartly.

proudhon
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June 16, 2011, 06:52:04 PM
 #7

Drifter, are they trading, or are they just selling big posistions in slices?

I cant see a trading strategy in this!

see, the strategy is this:

they sell itzy bitzy tiny amountses every 21,51 seconds (or whatever interval).

that ordertype is (to my knowledge) sometimes described as "CD" ("careful description") and enables the trader to even out the total execution price over a period of time.

if i sold 10.000 NOW, the price would be 10$ in a second or two.
if i sold 0,15 every 15 seconds for 3 days (3*24*60*60/4)
my activity would

- add liquidity to the market
- likely not disrupt pricing
- lead to a price being printed 4x/minute
and last not least
- probably end up having sold @ ~19 rather than 10.

so it is likely someone loading off... smartly.



If this is what's going on, I commend whoever is doing it.  It's better for everyone than the kind of massive dump somebody took over the weekend.
Horkabork
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June 16, 2011, 07:05:54 PM
 #8

Several people, myself included, also have bot functions that use small orders to try to detect a dark pool buyer or seller. Or, the bot wants to see how long an order currently takes to be processed and show up on the ticker.

Or, if you have a fun-loving bot and want to nudge the market or at least keep it from utterly falling out of your direction, there's a "paint the ticker tape" function. For example, if there's a lot of red on the ticker and you want people to see mainly green and white, your bot buys a lot of tiny amounts in a row. Or it looks at the depth chart and buys when it'll probably show green on the ticker.

Or your bot fills the gap between bid and ask with a bunch of tiny offers to slow down volatility and possibly drag other, bigger offers in from other people. For example, let's say the last price was 18.52, the bighest bid is 18.50, and the lowest ask is 19.50. You are a big seller, and want the market to go up, so your bot fills the space between 18.50 and 19.50 with little bids, but only when there's a break in the action, lest your bots orders get eaten immediately. You want the bot to place bids there so that other people, or bots, who try to "undercut" the highest bid or lowest ask will be prompted to move. Then, when you bot sees this occur, it can remove it's tiny bids to save money.

Or, you're trying to test your bot behavior by only allowing it to have tiny maximum offers until you figure things out.

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AtomicTrader
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June 16, 2011, 07:59:33 PM
 #9

Looks like price is falling. I think people don't want to hold BTC's going into the weekend when the price usually tanks due to the lack of funds flowing in from bank transfers.
2weiX
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June 17, 2011, 06:54:35 PM
 #10

it's the botnet owner along off at the pace in which he generates them.
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