kiklo
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Activity: 1092
Merit: 1000
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July 10, 2015, 10:58:42 PM |
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A bot that trades for no other reason than to suppress prices even at a loss,  , Is there any evidence of this? Solarion stated his opinion here. No idea whose bot it is, but there's mass price manipulation going on at craptsy and anyone making their Zeit trading decisions based on craptsy trading history is making a mistake. That bot doesn't even look like it's written to try to stack more LTC.
I noticed the same issue on cryptsy , watch the markets and make your own decision.  |
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Varvarin
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No good deed goes unpunished
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July 10, 2015, 11:10:10 PM |
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Exchanges have arbing bots who will make profit for the exchange if elsewhere price is higher, on top of whale bots. Nothing that can be done about that.
Those who only paid attention to Cryptsy LTC pairing and not thought about BTC price if converted, probably missed the whole rise when LTC went mental but are seeing the crazy after effects of the swift pump and dump that happened.
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stevegreer
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Activity: 1148
Merit: 1001
Official Zeitcoin community ambassador
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July 10, 2015, 11:13:22 PM |
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I agree there are some shady dealings going on right now. And I will admit that after seeing Zeit take a tumble from being in the top 50 on coinmarketcap for several days to being pushed back down into the 80s, it was a slap in the face. We need to face facts and accept that we are likely never again going to see the dirt cheap Zeit of a few months ago. And even though Zeit is still relatively cheap, we have got to start doing more dealings in the two exchanges where we have a BTC pairing.
I made a post about a week ago for putting in some buy support at YoBit on the BTC market, which went completely ignored. Cryptopia and YoBit are both very good up and coming exchanges. If Cryptsy wants to black ball us by saying they require us to have 50BTC daily volume in order to put us back on the BTC pairing, then to hell with them. If Poloniex wants to be dicks and not respond to emails, then to hell with them. We can get the volume we need on the BTC pairing at Cryptopia and YoBit and let those exchanges reap the benefits and leave Poloniex and Cryptsy outside crying in the rain.
Just my two cents. Ignore it again if you want. But as for me, all of my trades from here on out will be with Cryptopia and YoBit.
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atronite
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July 10, 2015, 11:26:14 PM |
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A bot that trades for no other reason than to suppress prices even at a loss, , Is there any evidence of this? It appears to be a loss, but the way LTC was crashing, it's actually an attempt to preserve capital as denominated in BTC. Yes, selling Zeit for 140 litoshi is pretty low, but if you took that LTC and sold it at .033, and then it crashed to .016 like it did, you actually came out ahead if Zeit doesn't correct. Whereas if you simply held, then you would see prices go from 9 satoshi to 6 or even down to 4. Once the dust clears on LTC, you can buy back at MUCH better prices and then clear out the market. It might be at a "loss", but this "loss" is mitigated by the additional LTC gain you would have gotten. |
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john_doe
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July 10, 2015, 11:42:45 PM |
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I noticed the same issue on cryptsy , watch the markets and make your own decision. I've been around here for some time, and every time a given coin goes up or down too much, people blame it on bots (be it Bitcoin or Zeitcoin or whatever) even though bots are always there. Personally I think the human factor is much more important than bots. But hey, this is just my opinion  |
If you believe my post is helpful and you feel like donating a small amount, please use this address: 165i2m6WNT3v4KPWbFesKhceaXf2shcUDR
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kiklo
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July 10, 2015, 11:44:56 PM |
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I've been around here for some time, and every time a given coin goes up or down too much, people blame it on bots (be it Bitcoin or Zeitcoin or whatever) even though bots are always there. Personally I think the human factor is much more important than bots. But hey, this is just my opinion No Worries , everyone should make their own decisions based on what they see & believe. |
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kiklo
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Activity: 1092
Merit: 1000
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July 10, 2015, 11:45:34 PM |
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A bot that trades for no other reason than to suppress prices even at a loss, , Is there any evidence of this? It appears to be a loss, but the way LTC was crashing, it's actually an attempt to preserve capital as denominated in BTC. Yes, selling Zeit for 140 litoshi is pretty low, but if you took that LTC and sold it at .033, and then it crashed to .016 like it did, you actually came out ahead if Zeit doesn't correct. Whereas if you simply held, then you would see prices go from 9 satoshi to 6 or even down to 4. Once the dust clears on LTC, you can buy back at MUCH better prices and then clear out the market. It might be at a "loss", but this "loss" is mitigated by the additional LTC gain you would have gotten. OK what you guys are saying is that there are exchange bots that trade based only on the other coin we are paired with, basically ignoring our price only to pump or stabilize the other coin. Therefore causing a dump/ price crash of the other coin. Under what circumstances do you believe the reverse happens, when do they buy zeit (or other alt coin) to have it on hand so they can use it later. |
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john_doe
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July 10, 2015, 11:52:51 PM |
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OK what you guys are saying is that... Are you including me in that "guys"? I'm only saying that I believe bots are not so important and/or effective in manipulating prices as some people claim. That's all. |
If you believe my post is helpful and you feel like donating a small amount, please use this address: 165i2m6WNT3v4KPWbFesKhceaXf2shcUDR
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atronite
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July 11, 2015, 12:24:37 AM |
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I agree there are some shady dealings going on right now. And I will admit that after seeing Zeit take a tumble from being in the top 50 on coinmarketcap for several days to being pushed back down into the 80s, it was a slap in the face. We need to face facts and accept that we are likely never again going to see the dirt cheap Zeit of a few months ago. And even though Zeit is still relatively cheap, we have got to start doing more dealings in the two exchanges where we have a BTC pairing.
I made a post about a week ago for putting in some buy support at YoBit on the BTC market, which went completely ignored. Cryptopia and YoBit are both very good up and coming exchanges. If Cryptsy wants to black ball us by saying they require us to have 50BTC daily volume in order to put us back on the BTC pairing, then to hell with them. If Poloniex wants to be dicks and not respond to emails, then to hell with them. We can get the volume we need on the BTC pairing at Cryptopia and YoBit and let those exchanges reap the benefits and leave Poloniex and Cryptsy outside crying in the rain.
Just my two cents. Ignore it again if you want. But as for me, all of my trades from here on out will be with Cryptopia and YoBit.
If that's the case, do you have any BTC to put on the bid side on Cryptopia? Cuz I added liquidity on the ask side at 8-10 satoshi. No liquidity, no trading. It's that simple. Unless of course you're afraid that someone will actually sell you a bunch of Zeit for cheap.  |
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stevegreer
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Activity: 1148
Merit: 1001
Official Zeitcoin community ambassador
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July 11, 2015, 12:27:59 AM |
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If that's the case, do you have any BTC to put on the bid side on Cryptopia? Cuz I added liquidity on the ask side at 8-10 satoshi. No liquidity, no trading. It's that simple. Unless of course you're afraid that someone will actually sell you a bunch of Zeit for cheap. I'm working on it. I don't have tons of money at my disposal to be throwing around at exchanges, but I do what I can. |
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kiklo
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July 11, 2015, 01:42:08 AM |
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OK what you guys are saying is that... Are you including me in that "guys"? I'm only saying that I believe bots are not so important and/or effective in manipulating prices as some people claim. That's all. Nope,  Was not including you in that guys. |
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kiklo
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July 11, 2015, 06:46:36 AM
Last edit: July 11, 2015, 07:13:32 AM by kiklo |
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Note to Dumpers, Please refill your sell orders on SouthXchange, ZEIT/LTC market Someone ate them all up.   |
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LionOfNarnia
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July 11, 2015, 07:49:34 AM |
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"I don't always kill & eat things - but when I do it's because I'm a Lion & they were things" |
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atronite
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July 11, 2015, 12:41:29 PM |
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I heard about this, and I think this is actually the most plausible theory of why litecoin is rising in the first place. Halving, Greek Crisis and Bitcoin spam attack are all side issues compared to this. |
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podizzle
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July 11, 2015, 05:30:30 PM |
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the most plausible theory is btc-e administrators pumping their coins as i have seen 5-6 times in the past two years in this community. if you notice PPC, NVC, NMC all had pumps as well. Before you say "well that is LTC profits going into other coins" explain the 800BTC buy wall moving up the PPC orderbook during its pump. another option is okcoin futures traders accumulating LTC all week long in anticipation of their BTC pump hours before settlement. I can see them taking all that LTC they acquired during the week and 10x shorting it right before they ran the quarterly futures price up to $360. Logic dictates if BTC makes a run everyone will abandon their alts for BTC. BTW i hope whoever sold all their zeit for LTC held the LTC. |
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Rent_a_Ray
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Activity: 1326
Merit: 1037
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July 11, 2015, 06:54:16 PM |
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So happy... bought some cheap ZEIT!!! |
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CapSER2.0
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Activity: 112
Merit: 10
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July 11, 2015, 07:17:48 PM |
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So happy... bought some cheap ZEIT!!! Everyone a big hug! And I'm also taking advantage of these prices to buy cheap ZEIT  |
ZEIT: MpKWWsnqqJ32jKchgfmwKBFkRzNCU8XjUu
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solarion
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July 12, 2015, 07:19:26 AM
Last edit: July 12, 2015, 07:31:45 AM by solarion |
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LTC has been recovering vs BTC and fiat, so the craptsy auto market rigging bot sprang into action and lowered the bid and asks accordingly by dumping Zeit...mostly onto its own bids. It seems to be trying to maintain a peg to a specific BTC or fiat value. I'm having a bit of trouble envisioning a scenario where this market rigging directly benefits the bot's owner. Someone mentioned arbitrage, but exploiting price discrepancies between markets entails buying at the market with the lowest ask and selling at the market with the highest bid not dumping onto your own bids at the same market. The craptsy Zeit/XRP market seems to be similarly rigged.
I had buy support at craptsy around 235, but pulled it just as the bot dumped 50m or so Zeitcoin down to 221. I intend to mostly ignore the rigged craptsy Zeit markets going forward, but if there's a clear opportunity to punish the bot's owner I'll probably take advantage.
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zombie007
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July 12, 2015, 04:54:35 PM |
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So happy... bought some cheap ZEIT!!! Everyone a big hug! And I'm also taking advantage of these prices to buy cheap ZEIT absolutely +1 Buy-time |
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CapSER2.0
Member
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Activity: 112
Merit: 10
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July 12, 2015, 08:09:01 PM |
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The Knights and large holders of ZEIT must assume greater responsibility for this currency. We should not allow ZEIT crash down from 487 to 142 litoshis in just a week! It is a bestiality! Seems a discartable currency, low quality and little serious! The consequence: Many sell orders at prices gift of people losing confidence in the currency!  We must do something about it! So that does not happen again in the future!!! We must to design a plan of action now!  |
ZEIT: MpKWWsnqqJ32jKchgfmwKBFkRzNCU8XjUu
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