Massive bid wall - over $2,000,000

[Come-from-Beyond]

...which will disappear when the price comes closer to it.

What if a huge sell came in, would it still disappear in time?

Yes. Because it's not a real wall but one placed personally by Mark Karpeles.

[Come-from-Beyond]

MtGox can "draw" anything in their own data.

Or perhaps we don't need to go into conspiracy theories and that someone just placed a bid wall they're going to pull.

History of previous trades shows that it's a wall placed to manipulate the price. Don't be naive, MtGox can do it and of coz they do it. Don't u expect they won't use such a good chance to earn extra millions of dollars?

[SAQ]

MtGox can "draw" anything in their own data.

Or perhaps we don't need to go into conspiracy theories and that someone just placed a bid wall they're going to pull.

History of previous trades shows that it's a wall placed to manipulate the price. Don't be naive, MtGox can do it and of coz they do it. Don't u expect they won't use such a good chance to earn extra millions of dollars?

Mt Gox makes millions anyway from all those transaction fees. I do not think it would be worth for them to play the market and possibly get burned or have their manipulation discovered and loose all the trust they have gained through the years.

[Come-from-Beyond]

MtGox can "draw" anything in their own data.

Or perhaps we don't need to go into conspiracy theories and that someone just placed a bid wall they're going to pull.

History of previous trades shows that it's a wall placed to manipulate the price. Don't be naive, MtGox can do it and of coz they do it. Don't u expect they won't use such a good chance to earn extra millions of dollars?

Mt Gox makes millions anyway from all those transaction fees. I do not think it would be worth for them to play the market and possibly get burned or have their manipulation discovered and loose all the trust they have gained through the years.

Man, don't disappoint me. If u had two options - take 10.000.000 USD or 12.000.000 USD - would u choose the 1st one? *facepalm*

[01BTC10]

Reminds me of PokerStars players believing that the poker games are rigged when the site is already making hundred of millions per year with the rake.

[Come-from-Beyond]

MtGox can "draw" anything in their own data.

Or perhaps we don't need to go into conspiracy theories and that someone just placed a bid wall they're going to pull.

History of previous trades shows that it's a wall placed to manipulate the price. Don't be naive, MtGox can do it and of coz they do it. Don't u expect they won't use such a good chance to earn extra millions of dollars?

Mt Gox makes millions anyway from all those transaction fees. I do not think it would be worth for them to play the market and possibly get burned or have their manipulation discovered and loose all the trust they have gained through the years.

Trust? hahahahahahahhahaha my sides!

ROFL. Very good point, Goat! 

[ElectricMucus]

Uh that "trust" isn't so far fetched... They hold a majority of the capital in Bitcoins and Dollars. If that doesn't spell practical trust what does?

In the end it doesn't really matter how you guys feel, just your actions...

[Spekulatius]

I think the most effective thing to do would be to break that important 120$ resistance and then leave the wall there till it moves further, then sell somewhere above that. It takes balls to attempt that however;)

Most effective to do what?

Drive the price up.

[Anon136]

The joys of an unregulated market... Truly a beauty if I do say so myself

yea cuz government regulation would solve this problem with out creating any newer bigger ones

[xorglub]

Wall is back and now at 110...

[ronaldlee0917]

I think the wall delivers fear more than safety, thats two million of cash, it means that the same guy might hold tons of bitcoins and awaiting a massive sell off at the right price.

[blackreplica]

20,000BTC at $110 instead of $100 now. Wow, just wow.

Now we know for sure it's one person doing the buying and not just coincidentally stacked bids (as unlikely as that was anyway)

His bids are a little too close to the market price for a bluffer's comfort. I think he actually means to buy the coins. If he placed a market order the price would go right to $128.

So my guess - he's hoping for a little dip into his buy order to get a better deal. But I am pretty sure this guy is a serious buyer and not a faker

[Quantum_Negatum]

The tin-foil hat wearers who accuse the bots of holding the price down are naive.  The bots don't keep the price down, but for temporary periods.  The bots are there to drive the price up over time through repeated pumping and dumping. They benefit more from crashing at a higher price.  Gox also benefits from higher prices and the publicity/accounts it brings.

The walls are there to provide illusory support.  I.e., that the price cannot possibly drop below the wall.  This encourages buyers and helps drives the price up.  When the owner of the wall wants the price to crash, or sees it coming, the wall will be removed.  The price will drop further than it otherwise would.  The owner then tries to snipe the bottom.

Same thing is happening with all the alt-coins.  Just takes more $ to manipulate on Gox.

[Odalv]

The tin-foil hat wearers who accuse the bots of holding the price down are naive.  The bots don't keep the price down, but for temporary periods.  The bots are there to drive the price up over time through repeated pumping and dumping. They benefit more from crashing at a higher price.  Gox also benefits from higher prices and the publicity/accounts it brings.

The walls are there to provide illusory support.  I.e., that the price cannot possibly drop below the wall.  This encourages buyers and helps drives the price up.  When the owner of the wall wants the price to crash, or sees it coming, the wall will be removed.  The price will drop further than it otherwise would.  The owner then tries to snipe the bottom.

Same thing is happening with all the alt-coins.  Just takes more $ to manipulate on Gox.

Play against the wall and Gox if you wish
1. dump into it
2. buy when is removed. :-)

[Quantum_Negatum]

The tin-foil hat wearers who accuse the bots of holding the price down are naive.  The bots don't keep the price down, but for temporary periods.  The bots are there to drive the price up over time through repeated pumping and dumping. They benefit more from crashing at a higher price.  Gox also benefits from higher prices and the publicity/accounts it brings.

The walls are there to provide illusory support.  I.e., that the price cannot possibly drop below the wall.  This encourages buyers and helps drives the price up.  When the owner of the wall wants the price to crash, or sees it coming, the wall will be removed.  The price will drop further than it otherwise would.  The owner then tries to snipe the bottom.

Same thing is happening with all the alt-coins.  Just takes more $ to manipulate on Gox.

Play against the wall and Gox if you wish
1. dump into it
2. buy when is removed. :-)

I don't have the fund to do so.   

[SAQ]

Lol poor bidwaller

He puts his wall at 100, no one touches it, he goes for 110 and the price moves away by 7 points so again no one touches it.

I think the guy will just eat his own wall through 5k market buys.

[underground_]

Lol poor bidwaller

He puts his wall at 100, no one touches it, he goes for 110 and the price moves away by 7 points so again no one touches it.

I think the guy will just eat his own wall through 5k market buys.

If he wanted to buy he wouldn't have put up a 14k bid wall. He's selling, or it's a last ditch effort to keep the price from falling.

[Odalv]

The tin-foil hat wearers who accuse the bots of holding the price down are naive.  The bots don't keep the price down, but for temporary periods.  The bots are there to drive the price up over time through repeated pumping and dumping. They benefit more from crashing at a higher price.  Gox also benefits from higher prices and the publicity/accounts it brings.

The walls are there to provide illusory support.  I.e., that the price cannot possibly drop below the wall.  This encourages buyers and helps drives the price up.  When the owner of the wall wants the price to crash, or sees it coming, the wall will be removed.  The price will drop further than it otherwise would.  The owner then tries to snipe the bottom.

Same thing is happening with all the alt-coins.  Just takes more $ to manipulate on Gox.

Play against the wall and Gox if you wish
1. dump into it
2. buy when is removed. :-)

I don't have the fund to do so.   

Even 1 BTC is enough. If wall is fake, you will have 1,5. (and repeat next time)

[Quantum_Negatum]

The tin-foil hat wearers who accuse the bots of holding the price down are naive.  The bots don't keep the price down, but for temporary periods.  The bots are there to drive the price up over time through repeated pumping and dumping. They benefit more from crashing at a higher price.  Gox also benefits from higher prices and the publicity/accounts it brings.

The walls are there to provide illusory support.  I.e., that the price cannot possibly drop below the wall.  This encourages buyers and helps drives the price up.  When the owner of the wall wants the price to crash, or sees it coming, the wall will be removed.  The price will drop further than it otherwise would.  The owner then tries to snipe the bottom.

Same thing is happening with all the alt-coins.  Just takes more $ to manipulate on Gox.

Play against the wall and Gox if you wish
1. dump into it
2. buy when is removed. :-)

I don't have the fund to do so.  

Even 1 BTC is enough. If wall is fake, you will have 1,5. (and repeat next time)

The owner of the wall might permit part of the wall to be eaten before moving.  I doubt 1btc is enough to scare the owner that someone is about to eat the entire wall.

[Odalv]

The tin-foil hat wearers who accuse the bots of holding the price down are naive.  The bots don't keep the price down, but for temporary periods.  The bots are there to drive the price up over time through repeated pumping and dumping. They benefit more from crashing at a higher price.  Gox also benefits from higher prices and the publicity/accounts it brings.

The walls are there to provide illusory support.  I.e., that the price cannot possibly drop below the wall.  This encourages buyers and helps drives the price up.  When the owner of the wall wants the price to crash, or sees it coming, the wall will be removed.  The price will drop further than it otherwise would.  The owner then tries to snipe the bottom.

Same thing is happening with all the alt-coins.  Just takes more $ to manipulate on Gox.

Play against the wall and Gox if you wish
1. dump into it
2. buy when is removed. :-)

I don't have the fund to do so.  

Even 1 BTC is enough. If wall is fake, you will have 1,5. (and repeat next time)

The owner of the wall might permit part of the wall to be eaten before moving.  I doubt 1btc is enough to scare the owner that someone is about to eat the entire wall.

I'm talking about your profit. Make 2 BTC(1,5) from 1 BTC. And then 4 BTC from 2 BTC  when next time wall appears ... soon you will have 1000 BTC (if you are right :-) )