Someone just bought a shit load of BTC on MtGox

[mike85123]

Jumped just over $1 in less than 10 mins.  It was a huge buy wall just waiting for sell orders.

[Oldminer]

Jumped just over $1 in less than 10 mins.  It was a huge buy wall just waiting for sell orders.

$150K

[phorensic]

Yet another WTFbbq moment when I watched it on mtgoxlive.  This is better than reality TV.

[Bitcoin Swami]

(quietly turns miners back on)

[Sitarow]

and notice how the majority of the buy orders at 6.5 moved to 7 and those at 7 jumped to 7.5 and those at 7.5 jumped to 8 and so on

Nice attempt at a staggered wall. A change up from last nights attempt.

[tacotime]

[RogerR]

and notice how the majority of the buy orders at 6.5 moved to 7 and those at 7 jumped to 7.5 and those at 7.5 jumped to 8 and so on

Nice attempt at a staggered wall. A change up from last nights attempt.

I guess that's why they call it sustainable?

[dancupid]

Now over $10. 30% increase in 12 hours. At least my kids will have some food today, poor little wretches haven;t eaten for 3 days (I should really get a real job)

[Vandroiy]

It's almost as if they want the price to spike right away. If there is a plan behind this, it might be short-time trading. E.g. buy in a flash, people mentally accept the higher price for a bit, sell slowly and as invisibly as possible for profit. Wait for correction, repeat.

Why didn't I think of that? (Truth is, I know the idea but can't afford it. This probably only works with 100k USD+, so someone pulling it with safety against fluctuations needs 1M USD play money or something -- don't have that, so I can just post the idea in an attempt to spoil others' fun in case this is what they actually do.)

Any other theories why someone would want to buy in so visibly, with such sharp price fluctuations? Not exactly a cheap move there.

[payb.tc]

Now over $10. 30% increase in 12 hours. At least my kids will have some food today, poor little wretches haven;t eaten for 3 days (I should really get a real job)

hahaha i can relate.

[Yannick]

$11.5 !!!

[crazy987]

$11.5 !!!

SELL SELL

*grins*

[Cluster2k]

(quietly turns miners back on)

You're not the only one :-P

[crazy987]

(quietly turns miners back on)

You're not the only one :-P

Difficulty 1,890,362
Next Difficulty
in 883 blocks 1,868,274

*Smikes* 

[the joint]

lol very nice

[miscreanity]

I think it was the dumbass who sold ~30k BTC at $6 buying back in.

[coined]

It's almost as if they want the price to spike right away. If there is a plan behind this, it might be short-time trading. E.g. buy in a flash, people mentally accept the higher price for a bit, sell slowly and as invisibly as possible for profit. Wait for correction, repeat.

Why didn't I think of that? (Truth is, I know the idea but can't afford it. This probably only works with 100k USD+, so someone pulling it with safety against fluctuations needs 1M USD play money or something -- don't have that, so I can just post the idea in an attempt to spoil others' fun in case this is what they actually do.)

Any other theories why someone would want to buy in so visibly, with such sharp price fluctuations? Not exactly a cheap move there.

It does look like a trading strategy, perhaps some professional investors fluent in creating fear and confidence playing with us and our free market,

we saw a week's worth off decline undone in a quick rally last time, S3052 said we had just broking an upper trend line channel(13 something at the time) and prices were about to soar up to 20, confidence was high, bid walls were plenty, then huge swooping sell off ending at fricken 5's

So i'm not as confident in the market after a huge buyer moves it anymore.

[NamelessOne]

It's almost as if they want the price to spike right away. If there is a plan behind this, it might be short-time trading. E.g. buy in a flash, people mentally accept the higher price for a bit, sell slowly and as invisibly as possible for profit. Wait for correction, repeat.

So i'm not as confident in the market after a huge buyer moves it anymore.

Exactly, S3052s analysis seemed to be working, then BAM, that seller came in big time. Also the 11000 btc wall was placed at 12.5 or whatever it was. Probably all the same person or group.

[evolve]

gonna be one of those days...sometimes the charts are better than cable 

[GeniuSxBoY]

I think the smart people are buy while the fees are low