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Author Topic: 10 BTC sell orders every 0.0005 BTC. any ideas?  (Read 1313 times)
molecular
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October 26, 2011, 12:22:38 PM
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screenshot from http://bitcoin.clarkmoody.com/:



what are these 10 BTC sell orders spaced evenly every 0.0005 BTC? any ideas?

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zhoutong
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October 26, 2011, 12:27:56 PM
 #2

Observed the same thing on the buy side.

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October 26, 2011, 12:35:00 PM
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It's been almost 30 min with no buy or sell data. Is the market quiet or is something broken somewhere? Actually for the last 4 or 5 hours, the price has been almost perfectly dead flat. Maybe someone is trying to lock the price with bot trades?

molecular
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October 26, 2011, 01:00:45 PM
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It's been almost 30 min with no buy or sell data. Is the market quiet or is something broken somewhere? Actually for the last 4 or 5 hours, the price has been almost perfectly dead flat. Maybe someone is trying to lock the price with bot trades?

why not, people have been asking for stable prices for ages.

the volume has been pretty low, though. this just changed.

these orders remain.

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molecular
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October 26, 2011, 01:08:52 PM
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Observed the same thing on the buy side.

Yeah, see them now.

This is providing some good liquidity.

Maybe a big player (or group) is aiming to stabilize price a bit?

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October 26, 2011, 01:13:37 PM
 #6

Observed the same thing on the buy side.

Yeah, see them now.

This is providing some good liquidity.

Maybe a big player (or group) is aiming to stabilize price a bit?

Providing liquidity like this can also earn very good profit if the fluctuation continues.

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molecular
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October 26, 2011, 01:23:09 PM
 #7

Observed the same thing on the buy side.

Yeah, see them now.

This is providing some good liquidity.

Maybe a big player (or group) is aiming to stabilize price a bit?

Providing liquidity like this can also earn very good profit if the fluctuation continues.

True. However, don't forget the trading fee.

What other implications would this have on the market if kept up?

I could imagine it'd instill some confidence.

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zhoutong
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October 26, 2011, 01:37:29 PM
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Observed the same thing on the buy side.

Yeah, see them now.

This is providing some good liquidity.

Maybe a big player (or group) is aiming to stabilize price a bit?

Providing liquidity like this can also earn very good profit if the fluctuation continues.

True. However, don't forget the trading fee.

What other implications would this have on the market if kept up?

I could imagine it'd instill some confidence.

The trading fee isn't that significant.

If I buy at 2.8, I only need the price to increase to 2.80756 - 2.8168 to make a profit. (Depending on fee tier)

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Dan The Man
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October 26, 2011, 01:41:54 PM
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The trading fee isn't that significant.

If I buy at 2.8, I only need the price to increase to 2.80756 - 2.8168 to make a profit. (Depending on fee tier)

But to realize that profit, you need to turn the BTC you just bought at 2.8 back into dollars at 2.8168 and then you get nailed a second time on the trading fee and end up losing money overall. So really if you have dollars and you want to get a dollar profit on price fluctuation you need at least a 1% movement.

To use your example, if the price is 2.8 and you get charged a 0.5% trading fee. When you buy you are really paying 2.8140. And when you sell, you are getting that same 0.5% on the Bitcoin side. So if you sold at 2.8281, you are really selling at 2.8140. So you bought at 2.8 and sold at 2.8281 and managed to make a big 'ol goose egg for yourself.

molecular
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October 26, 2011, 01:54:04 PM
 #10

The trading fee isn't that significant.

If I buy at 2.8, I only need the price to increase to 2.80756 - 2.8168 to make a profit. (Depending on fee tier)

goxsh begs to differ (assuming it's using 0.65% fee to calculate)

Quote from: goxsh
$ profit 2.8
Short:  < 2.76650
Long:   > 2.83391

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Bigpiggy01
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October 26, 2011, 02:06:26 PM
 #11

Quote
To use your example, if the price is 2.8 and you get charged a 0.5% trading fee. When you buy you are really paying 2.8140. And when you sell, you are getting that same 0.5% on the Bitcoin side. So if you sold at 2.8281, you are really selling at 2.8140. So you bought at 2.8 and sold at 2.8281 and managed to make a big 'ol goose egg for yourself.

You're missing the point. If you're providing this level of liquidity then you're very effectively cashing in on the majority of swings the market makes. The spacing of those bids and asks from the spacing you can see that this is being done by someone with one of the really low fee levels like 0.25% (someone correct me if I'm wrong, but I recall this as being the lowest). To do this effectively you need a fairly large amount of both btc and fiat but once you reach that level Grin

Essentially the harder the market spikes in either direction the more this guy/gal is up. This is an extremely logical trading "system" provided that you A you have deepish pockets and B don't believe that bitcoin is going to kick the bucket anytime soon.

Quote
Providing liquidity like this can also earn very good profit if the fluctuation continues.

+1 Absolutely right  Cool

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October 30, 2011, 10:23:06 PM
 #12

The trading fee isn't that significant.

If I buy at 2.8, I only need the price to increase to 2.80756 - 2.8168 to make a profit. (Depending on fee tier)

goxsh begs to differ (assuming it's using 0.65% fee to calculate)

Quote from: goxsh
$ profit 2.8
Short:  < 2.76650
Long:   > 2.83391

https://support.mtgox.com/entries/20388551-lowered-trade-fees-and-volume-discounts

0.60% is the highest tier.


A bot would have 0.30% to 0.25%, depending on its volume.

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