Automated trades

[SilverLining]

Just noticed what looks like automated buying and selling:

http://s4.postimage.org/5ykk1dlad/algo2.png

The bot is buying 0.01 every transaction

Surely this would just lead to being eaten away by the commission...

unless...

the bot is run by mtgox = no commission

or perhaps

it is the bitcoinica bot and can afford to do it because the spread there is wider than the commission.

[1715398200]

1715398200

[SilverLining]

Hmmm

looks like the amount is dropping over time

at this rate it will be at 0 by about 13:33

http://s2.postimage.org/rjd9ef0ry/trades.png

[kjj]

Just noticed what looks like automated buying and selling:

The bot is buying 0.01 every transaction

Surely this would just lead to being eaten away by the commission...

unless...

the bot is run by mtgox = no commission

or perhaps

it is the bitcoinica bot and can afford to do it because the spread there is wider than the commission.

ZOMG!  Conspiracy!

Oh, wait.  5.01901 * 1.0025 * 1.0025 = 5.044136, and these were at 5.04643, for a miniscule profit, after fees.

[btcmsg]

interesting.