Massive bid wall - over $2,000,000

[Odalv]

I'm not manipulating anyone, just taking advantage of someone else's manipulation.  No guilt at all.

You are a big part of the problem.

He stabilizes the system. When manipulator pumps he sells. When manipulator dumps he buys. Less profit for manipulator (as manipulator is without profit/lose he stops doing this)

[cbeast]

Why do you hope the wall keeps moving up?  That just sets the stage for a more dramatic crash.

So I can catch the peak before the crash and then buy in again when it is low.

No guilt from participating in the manipulation and robbing inexperienced traders?  These things don't exactly help Bitcoin's reputation.

Inexperienced traders don't get robbed, only ignorant or stupid ones. You have the responsibility to educate yourself and you have access to all that information for free on the internet.

[Quantum_Negatum]

I'm not manipulating anyone, just taking advantage of someone else's manipulation.  No guilt at all.

You are a big part of the problem.

He stabilizes the system. When manipulator pumps he sells. When manipulator dumps he buys. Less profit for manipulator (as manipulator is without profit/lose he stops doing this)

Do you think he has enough bitcoin to affect the manipulator's profits enough to discourage pumping and dumping?

[Babylon]

I'm not manipulating anyone, just taking advantage of someone else's manipulation.  No guilt at all.

You are a big part of the problem.

He stabilizes the system. When manipulator pumps he sells. When manipulator dumps he buys. Less profit for manipulator (as manipulator is without profit/lose he stops doing this)

Do you think he has enough bitcoin to affect the manipulator's profits enough to discourage pumping and dumping?

no I do not.  If I had not sold out when it was at $15 I might.

[Quantum_Negatum]

Why do you hope the wall keeps moving up?  That just sets the stage for a more dramatic crash.

So I can catch the peak before the crash and then buy in again when it is low.

No guilt from participating in the manipulation and robbing inexperienced traders?  These things don't exactly help Bitcoin's reputation.

Inexperienced traders don't get robbed, only ignorant or stupid ones. You have the responsibility to educate yourself and you have access to all that information for free on the internet.

Is there any honor in robbing ignorant or stupid traders?

[Awhut]

Why do you hope the wall keeps moving up?  That just sets the stage for a more dramatic crash.

So I can catch the peak before the crash and then buy in again when it is low.

No guilt from participating in the manipulation and robbing inexperienced traders?  These things don't exactly help Bitcoin's reputation.

Inexperienced traders don't get robbed, only ignorant or stupid ones. You have the responsibility to educate yourself and you have access to all that information for free on the internet.

Is there any honor in robbing ignorant or stupid traders?

You take risks when you enter a speculative market.

/discussion

[Quantum_Negatum]

A lot of soccer moms have entered the market and understand that it is speculative.  The extent of manipulation is not as well understood.

[Odalv]

I'm not manipulating anyone, just taking advantage of someone else's manipulation.  No guilt at all.

You are a big part of the problem.

He stabilizes the system. When manipulator pumps he sells. When manipulator dumps he buys. Less profit for manipulator (as manipulator is without profit/lose he stops doing this)

Do you think he has enough bitcoin to affect the manipulator's profits enough to discourage pumping and dumping?

no I do not.  If I had not sold out when it was at $15 I might.

Start with 1 Satoshi. When you make 5 Satoshi  try 0.1 btc.  You will become confident, or will stop trading. Buy and hold is the best strategy.

[Babylon]

I'm not manipulating anyone, just taking advantage of someone else's manipulation.  No guilt at all.

You are a big part of the problem.

He stabilizes the system. When manipulator pumps he sells. When manipulator dumps he buys. Less profit for manipulator (as manipulator is without profit/lose he stops doing this)

Do you think he has enough bitcoin to affect the manipulator's profits enough to discourage pumping and dumping?

no I do not.  If I had not sold out when it was at $15 I might.

Start with 1 Satoshi. When you make 5 Satoshi  try 0.1 btc.  You will become confident, or will stop trading. Buy and hold is the best strategy.

I still have about 25 BTC.  So I have enough to play with, just not enough to actually move the market.

[rebuilder]

We had 20,000+ BTC worth of bids @ 120-ish quite recently, didn't we?

[old_engineer]

I think the bidwall is someone that wants to stabilize the exchange rate for business reasons.  They have most likely bet on a BTC business, and the BTC-denominated business needs a stable price.

[cAPSLOCK]

Are you new here or was this supposed to have a /sarcasm tag?

We will see this phenomenon when the price is near 200, though not as much most likely. Historically it happened around 10.

The wall isn't made of a single order, but represents the amount of lemmings willing to get back in for somewhere between 99 and 101.

The existence of this many lemmings is supported by threads like this.

[underground_]

I think the bidwall is someone that wants to stabilize the exchange rate for business reasons.  They have most likely bet on a BTC business, and the BTC-denominated business needs a stable price.

Well, they failed, then. A bunch of suckers panic bought, and it won't be long until they start panic selling again.

[Stunna]

An unregulated market at its finest

[Come-from-Beyond]

An unregulated manipulated market at its finest

Fixed that for you.

[fr33d0miz3r]

The wall isn't made of a single order, but represents the amount of lemmings willing to get back in for somewhere between 99 and 101.

No, this is a single order. A saw how it was placed in no time.

[Rampion]

and it's gone...

Edit: to the owner of that wall...besides buying bitcoin....good luck getting your $2,000,000 out of gox in any timely manner.

 

Best post of the thread

[Odalv]

and it's gone...

Edit: to the owner of that wall...besides buying bitcoin....good luck getting your $2,000,000 out of gox in any timely manner.

 

Best post of the thread

Maybe he will buy 6,7 btc @ $300k/btc -> no problem withdrawn .. in case gox did not change the rules.

[Rampion]

The wall isn't made of a single order, but represents the amount of lemmings willing to get back in for somewhere between 99 and 101.

No, this is a single order. A saw how it was placed in no time.

Yeah. It's a single order, look how it went in and out in this bid sum chart:



I'm sure too that this is a ridiculous attempt to take the price up before a dump. No one would place a $2M bid at a single point ($100), to then just push it a 10% higher ($110) just a few hours later. Who is so stupid to think that a $2M order will be filled all at once at a single price point, in a such tiny market? Let's remember that $2M is more than 10% of the total fiat sitting on Gox order book ATM. What a joke, and even more because it's happening on a weekend... What a stupid way to burn money that would be.

So yes, the wall is fake, no way it's a guy really willing to buy $2M BTC, this wall belongs to a guy willing to SELL as high as he can.

[Quantum_Negatum]

[tin-foil hat]

Might be an experiment to test the waters before some much larger moves in the coming weeks.

[/tin-foil hat]