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Author Topic: Manipulator manipulating on an unprecedented level  (Read 5036 times)
Edward50
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November 14, 2011, 02:21:39 AM
 #1

Anyone see what is going on right now. Manipulator is buying everything up. He moved his bidwall from 2.4. to 2.5. I just saw 20K volume increase and he is the highest bidder currently. He is manipulating on an unprecedented level right now. He may have bought well over 20,000 to 40,000 bitcoins in the past hour, as he is the higher bidder and volume has increased over 80,000 in the last hour or so.

This is all after someone dumped a huge amount of bit coins. He is in full panic mode right now trying to maintain the price because he probably has bought over 300,000-500,000 bitcoins since the drop from $30. I have never seen him in such a panic mode, he usually pull out his fake bidwalls. This time he is actually buying.

Pretty interesting to watch what is going on. Are there still people out there who don't see this as plain and simple price manipulation?

Currently his bid-wall is getting chewed down, and he is holding it up there. I wonder how long he will try and hold this up.

This AHOLE manipulator is the only thing holding bitcoins from falling into the $1.00 range.


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Etlase2
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November 14, 2011, 02:23:39 AM
 #2

maybe HE sold, expected a panic sell off afterwards, then bought up? who knows, who cares, this is only happening because the price is far too high for the market depth.

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November 14, 2011, 02:43:53 AM
 #3

I just watch the action


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November 14, 2011, 02:54:52 AM
 #4

How's this scenario: A tries to manipulate by wanting to trigger a panic sell, then B appears. B is a real-size speculator who says "Oh, down? I don't believe it, here's 200k USD against your opinion" and that's that.

This version would be a pretty bad outcome for A, I guess. He would have sold a massive amount at 2.5-3 and get no chance to buy back at such levels until B changes his mind or gets sold a huge amount of coins.
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November 14, 2011, 02:57:14 AM
 #5

How's this scenario: A tries to manipulate by wanting to trigger a panic sell, then B appears. B is a real-size speculator who says "Oh, down? I don't believe it, here's 200k USD against your opinion" and that's that.

This version would be a pretty bad outcome for A, I guess. He would have sold a massive amount at 2.5-3 and get no chance to buy back at such levels until B changes his mind or gets sold a huge amount of coins.
Thousands of coins are being sold by A right now almost continuously. The only people who have that much are people who want Bitcoin to succeed! I think this is a hack.
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November 14, 2011, 02:58:52 AM
 #6

What does A care if he paid $3 in electricity for those 50k coins? Why not use occam's razor and instead of assuming someone is stupid enough to put 100-200k into this market, that the only people with this kind of depth got it from the early adoption of bitcoin. For crying out loud, 50k coins were put on ask then immediately moved to bid in a span of a second. Misclick?

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November 14, 2011, 03:40:15 AM
 #7



This is the way I like to view market depth.

x: 1min/px
y: $0.01/px
z: log(price)

Tick marks on top are at the top of each hour.

Edit: The bidwalls are very cleanly visible on this one (the bright red pixels).  I'd say that this is the first time I've seen a wall this large in control of a single person.  IMO it's not manipulation; someone is just buying up cheap coins.  But they sure have a lot of fiat on hand!

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November 14, 2011, 03:47:25 AM
 #8

They could very well have sold a lot of bitcoins over the previous months…

Can't you make this an actual 3d chart, btw? Like mtgoxlive, but instead of ghosting, just have old positions receding into the background…

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November 14, 2011, 03:47:59 AM
 #9

Buying cheap? Wait till it's under $1...

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November 14, 2011, 03:54:00 AM
 #10

Can't you make this an actual 3d chart, btw? Like mtgoxlive, but instead of ghosting, just have old positions receding into the background…

It is an actual 3d chart!  Mine just switches the axes:  mtgoxlive has time in Z (fading), whereas I put depth in Z, and the history is off to the left (one hour per tick).  My way makes time easier to see at the expense of being fuzzier on depth.

Buying cheap? Wait till it's under $1...

No argument; I'm very bearish based on fundamentals.  "Cheap" is just relative to the short term.

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November 14, 2011, 04:01:03 AM
 #11

It is an actual 3d chart!  Mine just switches the axes:  mtgoxlive has time in Z (fading), whereas I put depth in Z, and the history is off to the left (one hour per tick).  My way makes time easier to see at the expense of being fuzzier on depth.
Agreed, but, I want all variables on axes, not in color or fading lines Tongue And rotatable, and zoomable, etc etc. That'd be cool though.

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November 14, 2011, 04:04:37 AM
 #12

I see.  I'm much too lazy to bother with that kind of eye candy.  It'd look great if someone did it, though.  Smiley

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Bitcoin is the Devil's way of teaching geeks economics.  --Revalin 165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g
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November 14, 2011, 05:30:18 AM
 #13



This is the way I like to view market depth.

x: 1min/px
y: $0.01/px
z: log(price)

Tick marks on top are at the top of each hour.

Edit: The bidwalls are very cleanly visible on this one (the bright red pixels).  I'd say that this is the first time I've seen a wall this large in control of a single person.  IMO it's not manipulation; someone is just buying up cheap coins.  But they sure have a lot of fiat on hand!
How did you get this chart?
thx!


Oh... silly me  Grin
back to the topic:
Manipulators gonna manipulate!

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Revalin
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November 14, 2011, 05:40:07 AM
 #14

It's my own software.  I wrote it a while back while training a bot.

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November 14, 2011, 08:52:47 AM
 #15

Who the hell is this guy? And more important, what does he wants?

I would assume he tries to win money either by:
1. stopping bitcoin going under $2 and make it successful, starting a rally
2. long-term invest in cheap bitcoins

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November 14, 2011, 09:06:02 AM
 #16

IMO he figured the price would be creeping slowly down anyways so he might just dump now.

The bid-walls were just to catch any panic sells. Smart move.

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November 14, 2011, 09:15:01 AM
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IMO he figured the price would be creeping slowly down anyways so he might just dump now.

That's what I figure. There is little new interest in bitcoin and 7200 coins a day is a lot for this market to bear without the price dropping over time. Time to cash out the winnings and hose everyone. Then when/if the price starts rising at some point far in the future, the process can start all over again with one of the other 15 or 20 people that have enough coins to do this crap.

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November 14, 2011, 09:39:38 AM
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But the bidwall is HUGE. he could loose a ton of money if another dumps thousands of coins.

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November 14, 2011, 10:08:11 AM
 #19



What an interesting day.  I'm usually not a believer in The Manipulator.  Most of the time people say it and I look at the charts and I see some walls on either side of the spread representing some arbitrageurs or market makers leaving their hook in the water, moving in rational ways predicted by commissions and profits.  I post my charts, say "point him out", no one does other than saying "OMFG walls", I roll my eyes and move on.

Today's different.  This was really interesting behavior by a single entity, either an individual or a coordinated group.

The left side of my chart is 22:00 GMT.  Interesting moves:

0:50: Mr. X sells 50k.  Crash.
1:00: the market behaves normally.
1:50: Mr. M: I'm in.  $2.50.
2:30: M: $2.55
2:50: Mr. X sells through him.  Ouch.
3:00: The price is creeping up and M starts backing it as it goes to prevent any sells from freaking the little run.
3:15: He pulls back to $2.50.  Perhaps he's hoping 15 minutes of running it up is enough to start a rally?  If so it didn't work.  Crash to $2.50.
3:30: Mr. X sells right through his wall.  That was expensive.  M puts it right back up.
3:55: Repeat.
4:00: M pulls back to $2.40.
4:15: Down to $2.30.  I'm pretty sure he pulled the $2.40 wall before the dump hit it.  I'll have to check trade history to be sure.
4:20: He puts in a 3 bid spread.  

... And after that, the dumps stop.  The market starts to behave normally again.  He catches a couple more small sells, the market continues to drift up, and he keeps backing it.

Mr M is clearly one entity.  Mr X is uncertain.  Someone wanted to unload some coins, but it's hard to say if it's just one guy.  Some are probably panic sells.  Some are probably exploiting M's bid wall - hey, if you want out, the time to do it is when someone's putting up a huge wall that you can dump into!

This cost M a whole lot of fiat.  He gained a whole lot of BTC, and saved the price.  I hope he wants them because he won't be able to unload them for a while.

But why?  I can speculate two reasons:

#1, for Bitcoin's sake: he's willing to throw a bunch of money into stabilizing Bitcoin.  That could be MagicalTux or anyone else who has a financial interest in a strong Bitcoin economy.  It could be someone simply doing it for altruistic reasons, or because they hate PayPal.  (Revalin holds his fist in the air!)

#2, corner a market and get rich quick!  This is very hard to do right since you have to convince other people to do your work for you.  If he has a whole lot of BTC and wants to cash out he'll need to create market depth.  By propping up the market at $2.50-$3.00 he can put an end to The Great 2011 BitBear.  By finishing Despair as quickly and cleanly as possible the market will regain confidence and hopefully start rallying again.  As it does, he can gradually sell off his holdings starting around $3.50-4.00.  Depending how much he has to dump that may prevent another bubble from forming (no complaints there); despite his dumping there may be a strong stream of investors to buy his BTC since they are no longer Despairing.  If he's really good he can run it up higher before he sells...  bigger risks, bigger rewards.

If it's #2, he'll need to stir up some hype soon.  All the stability in the world doesn't do any good if no one is watching.  I still contend that the fundamentals are very poor, so the price isn't going to rise on it's own without another big influx of outside interest.

      War is God's way of teaching Americans geography.  --Ambrose Bierce
Bitcoin is the Devil's way of teaching geeks economics.  --Revalin 165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g
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November 14, 2011, 10:20:59 AM
 #20



Fat pixels for people who can't figure out Ctrl-+.

      War is God's way of teaching Americans geography.  --Ambrose Bierce
Bitcoin is the Devil's way of teaching geeks economics.  --Revalin 165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g
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