Anyone watching?

[johnblaze]

what are you talking about

whether robot or human, someone is taking a position betting on a certain direction. no one is trying to "stabilize price" as if that is the end goal. people are trying to make money off each other

[Crypt_Current]

It'd be nice if the drop continues ... Still wating on Gox to move my USD to OKPay so I can get it into BTC-e... this sudden drop makes the arbitrage that much sweeter 

[Wuji]

what are you talking about

whether robot or human, someone is taking a position betting on a certain direction. no one is trying to "stabilize price" as if that is the end goal. people are trying to make money off each other

So when the price fell from $266 to $105 in a day where were all those people trying to make money off of each other?  Why were they panicking in unison?

I'm not making this up about bots stabilizing price.  I'm actually currently talking to quite a number of guys running them.

[seleme]

It'd be nice if the drop continues ... Still wating on Gox to move my USD to OKPay so I can get it into BTC-e... this sudden drop makes the arbitrage that much sweeter 

well, you wouldn't profit on it right now as btc-e is some 3$ lower. It was even higher at one moment when mtgox was on initial 129$, btc-e was on 130$ then.

It's often a case during sudden dumps, it's a small, not liquid market and big guys there are able to keep the price where it fits them.

[MOB]

Well this graph will help illustrate what I mean.  Note how much smaller volume movements drove huge price movement before Apr 12th.  Then after Apr 12th volume is much higher yet the price seems far more stable.

This could be explained by a huge number of speculators in competition however, I think they arrived in early March.  I'm not sure there was a huge surge of new investors mid April.  This is what leads me to believe trading bots are doing a better job at stabilizing the price.

Keep in mind that 20K volume @ $260 is the same amount of money as 40K volume at $130.  Unless you are using a ratio of volume and price on the Y axis then you should expect to see higher prices result in lower volume.

[johnblaze]

So when the price fell from $266 to $105 in a day where were all those people trying to make money off of each other?  Why were they panicking in unison?

there were plenty of people buying at 266 then at 250 then at 220 then at 200 then at 180.. all those buyers were trying to make money. they were wrong and lost (so far). all the sellers were trying to save money (same thing as 'make money' since we will assume no ability to short)

I'm not making this up about bots stabilizing price.  I'm actually currently talking to quite a number of guys running them.

i never claimed you made anything up

but you surely are looking at it wrong

none of those guys you are talking about are running their bots to 'stabilize price'. they are doing it to make money. they don't have some noble cause to try to keep bitcoins stable. and if they do, they won't for long as their account balances dwindle, but they don't

[dbru77]

what are you talking about

whether robot or human, someone is taking a position betting on a certain direction. no one is trying to "stabilize price" as if that is the end goal. people are trying to make money off each other

So when the price fell from $266 to $105 in a day where were all those people trying to make money off of each other?  Why were they panicking in unison?

I'm not making this up about bots stabilizing price.  I'm actually currently talking to quite a number of guys running them.

STAMPEDE!

 




BTW, do you guys really watch the sales journal trying to find patterns? you know that movie, "a beautiful mind"? it is a trading engine working, it matches offers and demand with sometimes very tiny amounts...if your paranoia tells you the whole thing is manipulated and nobody knows how it works in detail and everybody knows there is no regulation whatsoever.....it may well be true, some people will "manipulate". so what? hooray unregulated market! anarchy at it's best..no rules, only the strong survive

or maybe they just trade? you'll never know for sure. If I had to guess I would say you are very open to conspiracy theories my friend. anyway, trying to analyze the moves of an automated trading engine plus some bots seems pretty pointless to me.

Even if you see the "manipulators" in action - it will happen, you will watch, they move what they want to move and you still think about how and why this happens

[Crypt_Current]

It'd be nice if the drop continues ... Still wating on Gox to move my USD to OKPay so I can get it into BTC-e... this sudden drop makes the arbitrage that much sweeter 

well, you wouldn't profit on it right now as btc-e is some 3$ lower. It was even higher at one moment when mtgox was on initial 129$, btc-e was on 130$ then.

It's often a case during sudden dumps, it's a small, not liquid market and big guys there are able to keep the price where it fits them.

I already sold genius ... looking to buy back < $140 ... good times 

[bitleif]

So when the price fell from $266 to $105 in a day where were all those people trying to make money off of each other?  Why were they panicking in unison?

So was the 1929 stock market crash caused by bots too? Panic is human nature. Most people with common sense had a good feel at $266 that the price was overbought. When the selloff started there was a rush to the exit. People even discuss this now as one of the most predictable crashes in history.

[Nightowlace]

Have just got my coins at 127.4
don't expect this price again.

Correct. Expect a much lower price shortly

$124

[master-P]

$120 is the crucial point right now.

[Nightowlace]

$120 is the crucial point right now.

I'm hoping it breaks $120 and drops. I know that isn't what most want to hear but I sold everything at $129 and would like to see $110

[NamelessOne]

$120 is the crucial point right now.

I'm hoping it breaks $120 and drops. I know that isn't what most want to hear but I sold everything at $129 and would like to see $110

I'm so sick of retesting 120 that I wouldn't mind it dropping just to see what the hell happens.

[Nightowlace]

$120 is the crucial point right now.

I'm hoping it breaks $120 and drops. I know that isn't what most want to hear but I sold everything at $129 and would like to see $110

correction $129.90

I would like to see $110 I would call $995 today a good day. Yes I love BTC and while I always intend to keep my BTC, I do enjoy making some fiat until I don't need it anymore.

[Nightowlace]

$120 is the crucial point right now.

I'm hoping it breaks $120 and drops. I know that isn't what most want to hear but I sold everything at $129 and would like to see $110

I'm so sick of retesting 120 that I wouldn't mind it dropping just to see what the hell happens.

I think if we break $120 we will be looking at the $90 range in a very very short amount of time. When/if that happens I believe we can expect some large buying (I know I will be placing large orders)

[Wuji]

I've got orders from $110 down to $50.  Unless some big news happens I feel a slide coming on down.  Not sure how long it will take or last, but I see nothing to support another exuberant escapade right now.  I suggested putting in buys all the way down last night in this thread. 

[UltimateReaper]

Hm... everyone expects the price to go down... that can only mean one thing...

its gonna skyrocket! 

[Wuji]

So when the price fell from $266 to $105 in a day where were all those people trying to make money off of each other?  Why were they panicking in unison?

So was the 1929 stock market crash caused by bots too? Panic is human nature. Most people with common sense had a good feel at $266 that the price was overbought. When the selloff started there was a rush to the exit. People even discuss this now as one of the most predictable crashes in history.

Try reading comprehension.  I said the huge crash was pre-bot manipulation and bots were placed after aimed at stabilization.  I've reviewed the code for 3 bots that are attempting to stablize prices.  these were implemented after the sell off.  You failed to understand what I was talking about and in fact accusing me of saying the exact opposite of what I was saying.

[Wuji]

Hm... everyone expects the price to go down... that can only mean one thing...

its gonna skyrocket! 

Everyone?  The sentiment I see is everyone still thinks it will continue to go up "on the boards".  Unfortunately the big money in Bitcoin aren't forum posters here on the boards.  Unless they are really able to manipulate they should be cashing in more and more as time goes on.

[shad0wbitz]

It'd be nice if the drop continues ... Still wating on Gox to move my USD to OKPay so I can get it into BTC-e... this sudden drop makes the arbitrage that much sweeter 

You can do that through AurumXchange at a much lower price.