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Author Topic: Manipulator Exposed!  (Read 2431 times)
nmat
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October 28, 2011, 12:26:25 AM
 #21

Really? I wouldn't have expected that…
I might have to start looking at that, I guess…

This happens mainly because there isn't an easy/quick way of transferring money between exchanges. Days with high volume and big price shifts often dry out the bots.
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There are several different types of Bitcoin clients. Server-assisted clients like blockchain.info rely on centralized servers to do their network verification for them. Although the server can't steal the client's bitcoins directly, it can easily execute double-spending-style attacks against the client.
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October 28, 2011, 12:36:46 AM
 #22

Really? I wouldn't have expected that…
I might have to start looking at that, I guess…

This happens mainly because there isn't an easy/quick way of transferring money between exchanges. Days with high volume and big price shifts often dry out the bots.

Coupled perhaps with the vastly different bid side curves which show up from time to time between Tradehill and Mt. Gox (if they can be trusted at all.)  If anyone is doing things manually with a fair amount of money, a brain-fart and/or fat-finger could induce quite a blip on Tradehill.


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October 28, 2011, 01:07:14 AM
 #23

Poor Edward!  won't get his chance to become an early adopter! Angry
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October 28, 2011, 08:59:55 AM
 #24

Why would mt gox. benefit from have the price higher?

That should be obvious. Assuming their revenue comes mainly from fees, a volume of 40000 Bitcoin a day translates to roughly BTC 200 / day, or $600/day. That's hardly the kind of revenue you'd expect from a healthy business. Revenue wise, MtGox is about as far away from the monopolistic corporation some ppl here believe it is as the bakery around the corner of the street.

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October 28, 2011, 04:50:45 PM
 #25

Why would mt gox. benefit from have the price higher?

That should be obvious. Assuming their revenue comes mainly from fees, a volume of 40000 Bitcoin a day translates to roughly BTC 200 / day, or $600/day. That's hardly the kind of revenue you'd expect from a healthy business. Revenue wise, MtGox is about as far away from the monopolistic corporation some ppl here believe it is as the bakery around the corner of the street.

the best thing for Bitcoin would be a slowly rising price from an infusion of money from either speculators, investors, merchants, whatever.  an infusion of this sort would benefit everyone including the merchants b/c of the optimism generated.  all the bashing of the hoarders and speculators would just vanish.
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