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Author Topic: The 261.22390 Wall  (Read 2806 times)
nick32768
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February 19, 2014, 03:31:21 PM
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In the last 10 hours BTC on MtGox has bounced just over 261$, like there was an unpassable floor...

Will this resist until the next 'we are almost ready, but please wait a little more' press release ?

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Money Raccoon
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February 19, 2014, 08:30:39 PM
 #2

I say to the person buying at $261,

Well played Sir.
GeniuSxBoY
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February 19, 2014, 09:09:46 PM
 #3

Quote
we are almost ready, but please wait a little more' press release


I'm fully prepared for them to say "it'll be ready on monday"
when monday comes, they'll say it'll be ready wednesday
then they'll open it up on tuesday.

Be humble!
Cyberlight
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February 19, 2014, 09:18:27 PM
 #4

Still on 261.
MatTheCat
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February 19, 2014, 10:21:03 PM
 #5

Still on 261.

Just the free market at work, nothing to see here, move along now.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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February 19, 2014, 11:34:50 PM
 #6

Still on 261.

Just the free market at work, nothing to see here, move along now.

Or MtGox has a big order before they open withdrawals...

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February 20, 2014, 01:30:31 AM
 #7

Still on 261.

Just the free market at work, nothing to see here, move along now.

Or MtGox has a big order before they open withdrawals...

 Roll Eyes The orders are visible and all the market sells match perfectly with them.

Get a clue.

261 fell, and there was nothing odd about it.
MatTheCat
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February 20, 2014, 01:41:07 AM
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 Roll Eyes The orders are visible and all the market sells match perfectly with them.

Get a clue.

261 fell, and there was nothing odd about it.

So what are you trying to say. That here are a steady stream of buyers all delighted to make purchases at not much more than $261, matched by a steady stream of sellers happy to sell at no less than $261, for about the last 21 hours or something?

yeah...$261 broke...it was $260.3 for a minute just then.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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February 20, 2014, 01:44:29 AM
 #9

Is it possible someone is placing 1000s of BTC of bids at and around 261 to prevent a large wall from showing up? [In order to accumulate] Sure!

But, its not an "invisible wall" as people are calling it. Everything is visible.

Im sure with everyone at the tip of their seats waiting for Gox news, this will hurt volume as well. Anyone making a decision now is either clueless, in the know, or ballsy.
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February 20, 2014, 03:36:20 AM
 #10

I scoffed at first, haven't been following gox for a while now, but this really is something I've never seen before.

If anyone can provide another example of this kind of behaviour, for this amount of time, in the life of bitcoin, (since 100 or so, please no examples from those horrible doldrums at +/- $5) I would very much like to see it.

Does the wall just keep getting refilled? it doesn't look that big...

"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
HairyMaclairy
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February 20, 2014, 03:45:35 AM
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Well BTC China does this all day every day but thats maker taker rules.
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February 20, 2014, 03:51:31 AM
 #12

I scoffed at first, haven't been following gox for a while now, but this really is something I've never seen before.

If anyone can provide another example of this kind of behaviour, for this amount of time, in the life of bitcoin, (since 100 or so, please no examples from those horrible doldrums at +/- $5) I would very much like to see it.

Does the wall just keep getting refilled? it doesn't look that big...

lots of small bids around 261 get refilled constantly
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February 20, 2014, 03:53:37 AM
 #13

It was quite common in 2011 and 2012 to see 'walls' constructed on either the bid or ask side, with many Speculation forum posts about manipulators manipulating the price of bitcoin for their benefit.  The walls would get bought or sold into and collapse rather quickly on occasion.  Some would see the 'walls' as support for the price, with a belief that the entire 'wall' must be purchased before the price could move further.  This is of course not true.

It's a free market.  People are free to do whatever they like with their trades.

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February 20, 2014, 04:08:48 AM
 #14

It's a free market.  People are free to do whatever they like with their trades.

This is not 'free market trades'. This is the exchange manipulating the price using bots with lots of fake volume/numbers.

This my friend, would be deemed illegal behaviour on any other market and is probably also illegal on Bitcoin but nobody gives a damn so it goes on unabated across all exchanges. It is just so obvious on Gox probably due to the absolute lack of real trade going on at the present time.

Nothing worse than these brain dead 'free market' twats that cite the free market whenever someone complains or highlights some blatantly dodgy doings.


He broke into my house and stole the family silver.....its the free market.

He killed my mother and raped my father......its the free market.

He is fucking me in the asshole right now......its the free market.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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February 20, 2014, 05:45:55 AM
 #15

It's a free market.  People are free to do whatever they like with their trades.

This is not 'free market trades'. This is the exchange manipulating the price using bots with lots of fake volume/numbers.

This my friend, would be deemed illegal behaviour on any other market and is probably also illegal on Bitcoin but nobody gives a damn so it goes on unabated across all exchanges. It is just so obvious on Gox probably due to the absolute lack of real trade going on at the present time.

Nothing worse than these brain dead 'free market' twats that cite the free market whenever someone complains or highlights some blatantly dodgy doings.


He broke into my house and stole the family silver.....its the free market.

He killed my mother and raped my father......its the free market.

He is fucking me in the asshole right now......its the free market.

Ah Mat, someday you will realize that control is an illusion.

"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
DPoS
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February 20, 2014, 07:40:35 AM
 #16

I say to the person buying at $261,

Well played Sir.

about half that now!!!    Tongue

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February 20, 2014, 08:08:19 AM
 #17

I say to the person buying at $261,

Well played Sir.

about half that now!!!    Tongue

And bound to go down! LOL

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porcupine87
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February 20, 2014, 09:03:12 AM
 #18

I say to the person buying at $261,

Well played Sir.

about half that now!!!    Tongue
So very, very, very well played Tongue

But this is no compare to the guy who bought 3000coins at 16.2. 2am frpm 370 to 540$ and minutes later it was back at 370$, not at 150$... uaaahhh

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Money Raccoon
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February 20, 2014, 09:22:08 AM
 #19

So very, very, very well played Tongue
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