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Author Topic: Someone just took a gigantic dump.  (Read 14566 times)
phorensic
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November 14, 2011, 02:31:05 AM
 #41

A couple minutes ago I watched the 50,000 BTC bid wall move from 2.50 to 2.55 all at once.  It's definitely just one person.
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greyhawk
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November 14, 2011, 02:33:48 AM
 #42

I bet it's Satoshi.  Cheesy
mjcmurfy
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November 14, 2011, 02:33:53 AM
 #43

A couple minutes ago I watched the 50,000 BTC bid wall move from 2.50 to 2.55 all at once.  It's definitely just one person.

Yep, saw that too. I think your conclusions are correct.

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November 14, 2011, 02:34:16 AM
 #44


The other option I hadn't considered is a rich guy's Mt.Gox account was hacked, but the hacker couldn't withdraw all the coins at once so instead tried to ignite panic selling and buy cheap bitcoins.

I hope this isn't the case! I've been waiting for <2.75 for days. Picking up chump change at 3 just to keep my volume discount was killing me.

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November 14, 2011, 02:35:29 AM
 #45

It's jumped to 2.6 now - 25,000 btc bid.

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November 14, 2011, 02:36:21 AM
 #46

Now he dropped in another 25000 at 2,60. Someone's getting desperate
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November 14, 2011, 02:37:01 AM
 #47

this looks really strange right now...



I don't really believe this is one person, I mean it makes sense to sell them and by them back later, however I don't think the market would accept a drop this fast. I mean what he's gonna do buy his own coins?  Cheesy
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November 14, 2011, 02:39:30 AM
 #48

That 25,000 bid at 2.6 just got eaten alive!

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November 14, 2011, 02:39:40 AM
 #49

Two trades of 5000 BTC for $2.60 and that 2.60 'wall' comes crashing down.  It's beautiful to watch.  Someone is putting on quite a show.


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Vandroiy
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November 14, 2011, 02:40:03 AM
 #50

Nobody who owns a large amount of bitcoin will try to trigger panic selling. It isn't even profitable to do this if you are shorting on bitcoinica. The conclusion is that there is likely way more than one person selling, or there really is a team of Manipulators.

I mean a try to sell all, trigger panic, buy back lower.

Well, it's not that likely. But the orders not matching for a while at 2.5 have no other explanation really than being by the same person.

It's strange, why does someone want to hammer such huge volume through so fast? If the market makers introduce any sort of friction, this might result in huge losses for the seller.
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November 14, 2011, 02:41:17 AM
 #51

It's one person. On bitcoincharts you can see the exact volume of bids and it stands at exactly 25000 coins for 2,60.

These round number don't happen if more than one person is involved.

EDIT: And now someone bought right through that.
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November 14, 2011, 02:44:23 AM
 #52

90k by $2.50!

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November 14, 2011, 02:44:45 AM
 #53

It's one person. On bitcoincharts you can see the exact volume of bids and it stands at exactly 25000 coins for 2,60.

These round number don't happen if more than one person is involved.

EDIT: And now someone bought right through that.
One person holding the price up, yes. One person dropping it down, maybe. But I think it's likely that it's the same person on both sides - some hacker probably trying to play with unwithdrawlable funds, maybe?
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November 14, 2011, 02:47:18 AM
 #54

Aaaaand it's crashing to 2,50

EDIT: Broken through, all walls gone.
phorensic
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November 14, 2011, 02:47:21 AM
 #55

And bam, he pulls out at 6:45PM PST.  Where is he gonna get back in?

Edit: back in with 45,000 BTC @ $2.50....this is fun!
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November 14, 2011, 02:48:23 AM
 #56

And bam, he pulls out at 6:45PM PST.  Where is he gonna get back in?
Whoa, just saw some mtgox-live kung fu. Bidwall, Askwall, and bidwall again!

Edit: you know, someone is losing a gigantic amount of money from this...
SlaveInDebt
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November 14, 2011, 02:48:39 AM
 #57

And bam, he pulls out at 6:45PM PST.  Where is he gonna get back in?

2.5 again Roll Eyes

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November 14, 2011, 02:49:05 AM
 #58

I'm so confused! :/

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November 14, 2011, 02:49:09 AM
 #59

One thing is for sure.  Whatever happens, whoever is involved, there is only one guaranteed winner: MtGox.  They must be loving the volume.

Wall comes up, wall comes down, rinse repeat.  If whoever is responsible is reading this forum, I'd just like to say I'm enjoying the show.


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November 14, 2011, 02:49:37 AM
 #60

One thing is for sure.  Whatever happens, whoever is involved, there is only one guaranteed winner: MtGox.  They must be loving the volume.

Wall comes up, wall comes down, rinse repeat.  If whoever is responsible is reading this forum, I'd just like to say I'm enjoying the show.
Unless all this money is fake and from a Mt.Gox hack, of course.
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