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Author Topic: 8/22/11 Speculation Thread  (Read 1830 times)
tacotime
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August 22, 2011, 02:34:39 PM
 #1

Lots of buyers of bitcoin, not a lot of sellers.

Big, insurmountable 11$ wall on Mtgox similar to Saturday's 12$ wall.

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Edward50
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August 22, 2011, 03:00:48 PM
 #2

Not lots of buyers, fake bid walls.

Somebody is shoring up the bid side by putting in buy orders, but they are not actually buying bitcoins unless the price falls and hits their bid order. The volume is very low so you can easily shore up and manipulate the price very easily.

These fake bid walls of thousands of bitcoins were always in place, and always have been pulled back (disappeared) during major selling.

The price can be easily manipulated, but the question still remains. How much money will they spend artificially keeping the price high?

Why is this person only placing bid orders below the current bitcoin price, why is this person not actually buying any bitcoins? This has been going on since the price hit into the mid single digits.


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tacotime
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August 22, 2011, 03:04:54 PM
 #3

Why is this person only placing bid orders below the current bitcoin price, why is this person not actually buying any bitcoins? This has been going on since the price hit into the mid single digits.

The HFT bot is king.

But, it doesn't matter.  I think by 3-5 EST today something fun will happen.  Someone is eventually going to have to sell off a few thousand.

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August 22, 2011, 03:09:15 PM
 #4

The excitement of watching it jump back and forth from 11.25200 to 11.25209 over the past hour is mind boggling!

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August 22, 2011, 03:44:13 PM
 #5

How long this fake bid wall will last with only bots buying and selling 0.25 a time. who ever owns that bid wall is going to get bored of trying to push the price up against a bearish market, when they do they going to dump whatever it is they are holding. IMhO.

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tacotime
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August 22, 2011, 04:33:51 PM
 #6

I cashed out and am sitting at 80:20 USD:BTC.

Personal forecast is a push to 9-10USD/BTC in the next 48-72hr until we at least get some press from this conference.  Buy back target for me is about 7-8$ USD, although I feel the actual bitcoin price should be closer to 5-6$ USD.  But bitcoins are what bitcoins cost.

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August 22, 2011, 04:56:30 PM
 #7

I cashed out and am sitting at 80:20 USD:BTC.

Personal forecast is a push to 9-10USD/BTC in the next 48-72hr until we at least get some press from this conference.  Buy back target for me is about 7-8$ USD, although I feel the actual bitcoin price should be closer to 5-6$ USD.  But bitcoins are what bitcoins cost.

People were expecting huge news from the conference so they held. The conference seems to be a bit of a dud as far as the CNN, Al Jazeera, etc hype.

I see a slow push back down to $9 before the conference holding began. And back on track with the dollar a week decline from there on with slight upticks from media write ups here and there.

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indio007
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August 22, 2011, 05:15:04 PM
 #8

Bitcoin won't make a large move up till there is

1. Credible Hype from the Lamestream media
or
2. Significant (100k USD or more) buy-in of new money
or
3. New and innovative merchant that accepts bitcoin


Number 3 is the best choice for long term acceptance and stability.



tacotime
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August 22, 2011, 05:16:06 PM
 #9

Yeah.  This is the only bit of press I've seen so far:
http://www.finextra.com/news/fullstory.aspx?newsitemid=22882

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FreeMoney
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August 22, 2011, 05:41:17 PM
 #10

Plan:

Get $110,000
Send to MtGox
Place huge buy order
Pray it doesn't get bought
Huh
Profit?

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tacotime
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August 22, 2011, 05:44:45 PM
 #11

Good-bye huge wall
SELL SELL SELL

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zby
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August 22, 2011, 05:46:34 PM
 #12

Plan:

Get $110,000
Send to MtGox
Place huge buy order
Pray it doesn't get bought
Huh
Profit?

No - it involves a bit more complicated plan - and it could work, but actually it does not seem likely any more.
Philj
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August 22, 2011, 05:51:31 PM
 #13

one chunk at 405 out of that 11.14 wall and it's still up, so its not completely fake.... we'll see how it does over the next few minutes / hours.
Philj
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August 22, 2011, 05:53:41 PM
 #14

haha. 5 seconds after I posted, the 11.14 wall fell. Time for a fun ride.
fcmatt
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August 22, 2011, 05:59:51 PM
 #15

haha. 5 seconds after I posted, the 11.14 wall fell. Time for a fun ride.

There she goes.. straight to Davey Jone's locker.
zby
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August 22, 2011, 06:01:52 PM
 #16

Plan:

Get $110,000
Send to MtGox
Place huge buy order
Pray it doesn't get bought
Huh
Profit?

No - it involves a bit more complicated plan - and it could work, but actually it does not seem likely any more.

And yet this is what happened.  Anyone volunteers to explain the 'Huh' there for those left behind?
bitclown
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August 22, 2011, 06:12:05 PM
 #17

Plan:

Get $110,000
Send to MtGox
Place huge buy order
Pray it doesn't get bought
Huh
Profit?

No - it involves a bit more complicated plan - and it could work, but actually it does not seem likely any more.

And yet this is what happened.  Anyone volunteers to explain the 'Huh' there for those left behind?

It's probably more like this:
  • Sold an imperial ton of BTC on the way up to $32
  • Never withdrew all USD from Gox (tax shitstorm and all that)
  • Still holds lots of coins and want to keep the price up
rikur
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August 22, 2011, 06:15:19 PM
 #18

OP was so clueless. It's falling down without any resistance :/
tacotime
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August 22, 2011, 06:18:21 PM
 #19

OP was so clueless. It's falling down without any resistance :/

OP post was several hours ago, not right now.

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fastandfurious
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August 22, 2011, 06:22:46 PM
 #20

Why is this person only placing bid orders below the current bitcoin price, why is this person not actually buying any bitcoins? This has been going on since the price hit into the mid single digits.

The HFT bot is king.

But, it doesn't matter.  I think by 3-5 EST today something fun will happen.  Someone is eventually going to have to sell off a few thousand.

HFT bot? Trust me, there is no HFT going on with Bitcoins.
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