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Author Topic: Bitcoinica spreads off the charts  (Read 1999 times)
BitMagic
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September 21, 2011, 04:10:39 PM
 #1

About a minute ago, we were looking at 6000 pip spread, it's now in the 3000 range...people are worried.

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NamelessOne
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September 21, 2011, 04:12:34 PM
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I'm not worried myself based on charts and T.A., more just frustrated with the blatant 17000BTC Manipulation Wall that killed the really dead in its tracks. Obviously The Manipulator wants to buy lower and is happy to risk peoples confidence.
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September 21, 2011, 04:18:30 PM
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I'm sort of wondering why the hell that wall even affected the rally.  Anyone could see that it was manipulation.

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BitMagic
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September 21, 2011, 04:26:56 PM
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I'm not worried myself based on charts and T.A., more just frustrated with the blatant 17000BTC Manipulation Wall that killed the really dead in its tracks. Obviously The Manipulator wants to buy lower and is happy to risk peoples confidence.

I would much more quickly trust indicators of behavior over silly fake walls.

I'm sort of wondering why the hell that wall even affected the rally.  Anyone could see that it was manipulation.

The idea and scale of the manipulation alone makes me worried. This affects everything.

Please give me your money, because I am a shameless libertarian elite who deserves your money more than you do: 9Hkao8U82WWDp6SQGn4k7ad9gT1LWeL5s3
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September 21, 2011, 04:28:49 PM
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I'm sort of wondering why the hell that wall even affected the rally.  Anyone could see that it was manipulation.

It wasn't the wall that stop the rally. It was the 10k BTC that the manipulator dumped when the price got close to the wall. The wall is simply a sign that says you shall not pass.
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September 21, 2011, 04:42:41 PM
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I'm sort of wondering why the hell that wall even affected the rally.  Anyone could see that it was manipulation.

It wasn't the wall that stop the rally. It was the 10k BTC that the manipulator dumped when the price got close to the wall. The wall is simply a sign that says you shall not pass.

That is true, that 10k BTC wall was quite something to watch.
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September 21, 2011, 05:24:03 PM
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If we all agree on that, why we just do not keep buying and pushing against the wall?

This guy does not have infinite money, eventually he will run out and will have to let the rally go...

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September 21, 2011, 05:37:40 PM
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This guy does not have infinite money

Neither do I. The important thing is they have more money than me. Hell, they probably have more money than all of us combined.
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September 21, 2011, 06:14:48 PM
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This guy does not have infinite money

...Hell, they probably have more money than all of us combined.

I doubt that...


But if it is true, we are truly screwed.

Shinobi
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September 22, 2011, 03:29:37 AM
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They have enough coins to break you, and enjoy the power from knowing that they can. You've been screwed for a while.

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September 22, 2011, 03:37:09 AM
 #11

They have enough coins to break you, and enjoy the power from knowing that they can. You've been screwed for a while.

I doubt anyone spends money to buy themselves delusions of grandeur.  The manipulator is merely a profiteer.

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rezin777
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September 22, 2011, 04:00:57 AM
 #12

They have enough coins to break you, and enjoy the power from knowing that they can. You've been screwed for a while.

I doubt anyone spends money to buy themselves delusions of grandeur.  The manipulator is merely a profiteer.

And you are here to spread the wonders of Bitcoin to those less fortunate? Or it's OK to profit, as long as it isn't too much? Isn't that what everyone is complaining about; they can't earn a Bit while the manipulator does his naughty business? At what point does one become a profiteer instead of savvy investor?
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September 22, 2011, 04:06:54 AM
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And you are here to spread the wonders of Bitcoin to those less fortunate? Or it's OK to profit, as long as it isn't too much? Isn't that what everyone is complaining about; they can't earn a Bit while the manipulator does his naughty business? At what point does one become a profiteer instead of savvy investor?


They should make a movie called: "Bitcoin Prices: How I learned to stop stagnating and love The Manipulator".

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BitMagic
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September 22, 2011, 04:35:21 AM
 #14

To get back on track, I love this graph. I wonder what happened on the 15th, where "as transactions increase, spreads will decrease." Suuuuuuuuuuuure will!


Please give me your money, because I am a shameless libertarian elite who deserves your money more than you do: 9Hkao8U82WWDp6SQGn4k7ad9gT1LWeL5s3
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September 22, 2011, 07:15:33 PM
 #15

To get back on track, I love this graph. I wonder what happened on the 15th, where "as transactions increase, spreads will decrease." Suuuuuuuuuuuure will!

Given their exposure to volatility, they have to have huge spreads.
speeder
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September 22, 2011, 07:24:47 PM
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I suspect all this volume loss, is that everyone lost their accounts during the Manipulator Induced crash from 7 to 5... (me included Sad  )

BitMagic
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September 23, 2011, 01:10:14 AM
 #17

To get back on track, I love this graph. I wonder what happened on the 15th, where "as transactions increase, spreads will decrease." Suuuuuuuuuuuure will!

Given their exposure to volatility, they have to have huge spreads.

Spreads were 3x anything quoted on that chart when this thread was posted. I know spreads need to be large, I'm just shocked at how large.

Please give me your money, because I am a shameless libertarian elite who deserves your money more than you do: 9Hkao8U82WWDp6SQGn4k7ad9gT1LWeL5s3
Gerken
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September 23, 2011, 12:14:19 PM
 #18

He isn't dumping to keep bitcoins low, he is just selling off what he bought at 4.50, 2 dollar profit per, 10k bitcoins, thats a decent chunk of change.  If the market couldn't survive him selling those coins, would it have survived if he hadn't bought them?

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September 23, 2011, 01:05:11 PM
 #19

We're sorry, but something went wrong.

We've been notified about this issue and we'll take a look at it shortly.


Oh dear

OK its back.

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P4man
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September 23, 2011, 04:57:24 PM
 #20

I dont get this whole "manipulator" thing. 10.000BTC is 0.14% of all BTCs out there. If there was a real significant demand for bitcoins from new users, that wall would torn down overnight, and the "manipulator" would lose a fortune selling his BTCs so low.  The fact that wall is there just shows there is no such large influx of fresh capital, and if anything, we should all be grateful that wall prevents small time speculation from sending bitcoins value all over the place.

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