Battle of Bots

[Jessynoo]

The recent activity suggests to me that the bidders bots (banksters?) are doing a good job at tricking the sellers bots (lucky early adopters)  down the road to the lower supports.

The demand is there, it's just moving back away from the ticker. This is quite obvious on bitcoinity tool:
http://bitcoinity.org/markets?exchange=all
Any btc earned is immediately transferred to the the selling market depth,  it kills the usual sinusoidal bounce observed in other regular big transaction.
The bot owner secures a comfortable profit while breaking on any further rally.

I doubt the chase going on is just panic.
I'd guess someone with loads of btcs left his bot driving down the market chasing the lower biggest bid.

Hopefully he realises it soon enough. In the mean time, I also hope a lot of people are getting in and will share the profit with those smart bots

[1715274701]

1715274701

[1715274701]

1715274701

[1715274701]

1715274701

[1715274701]

1715274701

[1715274701]

1715274701

[1715274701]

1715274701

[dinzy]

It could just as easily be one person playing this game, or just the market.  I would thing that zero commissions could damp the oscillation too. 

It's so hard to tell what is real and what is one rich dickhead. 

Regardless it's fun as hell to watch and try to figure out when and if to throw some money at it.

[TiagoTiago]

I wonder what would happen if said botmaster got hit by a bus or somthing and his webhosted bot kept running

[Chucksta]

I wonder what would happen if said botmaster got hit by a bus or somthing and his webhosted bot kept running

LOL, love the visual, and the idea

Could be good for a short story

[Jessynoo]

It could just as easily be one person playing this game, or just the market.  I would thing that zero commissions could damp the oscillation too. 

Zero commission damping is what we just got when the "break" was released. The said bot master just left the market bounce and probably caught any single return of the resulting oscillation.
Definitely not the market...

[Jessynoo]

I wonder what would happen if said botmaster got hit by a bus or somthing and his webhosted bot kept running

Well, the admittedly crazy bot probably has a safety fuse if the developer was reasonable.
Otherwise, the result is that the corresponding bot drives the market down until it's got no btcs to sell.
The winner's bot master managed to get most btcs of the deceived one very cheap...

[Jessynoo]

The same pattern seems to be occurring in the opposite direction.
Of course nobody would mind now: you don't need a failing bot to rally up.
Still, big ask orders are immediately turned into big bid orders without any intention to sell low in the first place.

[Jessynoo]

The "break" is probably about to be released again, the moving ceiling is getting solid, brace for a huge bounce downwards....

[Jessynoo]

What if the failing bot was MtGox selling transaction fees at market price?
I don't mean it would explain trade stop at "break" release, rather than that could be the kind of bot I was thinking of.