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mjcmurfy
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November 16, 2011, 12:36:09 AM |
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Put panic into the eyes of the sheep with a mild 25-50k sell off, drop the value 20-30%, buy 25-50k coins back around $1 less, profit 30-40k USD, maintain BTC balance, rinse, repeat.
Yeah, but there is not enough panic yet. That wall is simply there to fuck with us. It is supporting the price until enough bids have been placed, after which it will be abruptly pulled and further panic will ensue. I might be wrong, but I don't think any manipulator worth his salt would actually give his hand away by leaving that wall there for so long. Call me crazy. |
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"Governments are good at cutting off the heads of a centrally
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Etlase2
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November 16, 2011, 12:47:08 AM |
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Yeah, but there is not enough panic yet. That wall is simply there to fuck with us. It is supporting the price until enough bids have been placed, after which it will be abruptly pulled and further panic will ensue. I might be wrong, but I don't think any manipulator worth his salt would actually give his hand away by leaving that wall there for so long. Call me crazy.
He also put up a $250k ask for all of a few seconds. Is there any explanation for that? Was he bragging? You would think he would spread out the wall a bit to make it not so obvious. But perhaps he just wants to see how stupid people are. |
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bitcoinBull
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rippleFanatic
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November 16, 2011, 02:20:55 AM |
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The record volume, ~375k BTC is almost double the old record (which was closer to ~200k BTC). That seems to me to be a game-changer. If this volume was mostly someone trading with him/herself (phantom volume of a manipulator), or otherwise normal volume of market-makers, then why was it never this high before?
Answer: Increase in usage of a certain service. Bitcoinica didn't just open yesterday. Yesterday's volume was a major outlier, which can't be hand-waved away. Yeah, but there is not enough panic yet. That wall is simply there to fuck with us. It is supporting the price until enough bids have been placed, after which it will be abruptly pulled and further panic will ensue. I might be wrong, but I don't think any manipulator worth his salt would actually give his hand away by leaving that wall there for so long. Call me crazy.
He also put up a $250k ask for all of a few seconds. Is there any explanation for that? Was he bragging? You would think he would spread out the wall a bit to make it not so obvious. But perhaps he just wants to see how stupid people are. Volume of almost twice the previous record qualifies as "enough panic", IMO. Or, he's gonna drop the wall and everyone will panic sell at $1.xx? That does sound crazy. How many people would still be holding, with a stop-loss below $2, especially given yesterday's record sell-off? Not many, I wouldn't think. The simpler explanation is that there's a big buyer who bought a bunch of bitcoin, and who is ready to buy at least 50k more. He's broadcasting a direct signal to the market. Whoever was selling either ran out of BTC, or got the message. Market, meet bottom. (unless it isn't. i suppose it could be a ploy to mindfuck and manipulate the market sheeple into buying now and panic selling later at $1.xx, if they're dumb enough). |
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evoorhees
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Democracy is the original 51% attack
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November 16, 2011, 02:52:16 AM |
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Meanwhile, some of us don't get distracted by the spectacle of days, weeks, or month-long moves.
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Etlase2
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November 16, 2011, 02:53:39 AM |
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The delusion around here is astounding.
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proudhon
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November 17, 2011, 04:32:19 AM |
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Weeeeeeee! My condolences to everyone who bought in the past few hours. New lows are on the horizon.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Cluster2k
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November 17, 2011, 04:42:31 AM |
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Weeeeeeee! My condolences to everyone who bought in the past few hours. New lows are on the horizon.
We're back in the cycle. Didn't get as high as I thought (closer to $3), but the game is on again. 'Wall' at $2.30 disappears, reappears at $2.00 and the market is sold off. Rinse, repeat. |
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tvbcof
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November 17, 2011, 04:43:18 AM |
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Weeeeeeee! My condolences to everyone who bought in the past few hours. New lows are on the horizon.
Interesting. Looks like a nice little rope-a-dope move on the part of 'the manipulator'. He seems to have sucked a pretty good chunk of coin out of the weak hands. |
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proudhon
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November 17, 2011, 04:44:47 AM |
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I mean, seriously, what were people doing buying all those coins in the past few hours. It was painfully obvious what was going on. I'm beyond baffled.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Cluster2k
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November 17, 2011, 04:54:32 AM |
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I mean, seriously, what were people doing buying all those coins in the past few hours. It was painfully obvious what was going on. I'm beyond baffled.
Catch the trading wave and ride it in. Market is rising again. The trend is your friend, and so is the manipulator. |
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bittenbob (OP)
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November 17, 2011, 04:55:40 AM |
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I mean, seriously, what were people doing buying all those coins in the past few hours. It was painfully obvious what was going on. I'm beyond baffled.
I certainly didn't buy any but perhaps he has taken down his bidwall to get some rest again. This is what seemed to happen the other day. Give it 6 hours and there will be another 50k coin bidwall. I noticed just before he got rid of it it was about 58k coins instead of 50k and it still hasnt dropped down near as much as the other day. He is trying to trigger a panic sell by some holders and they dont seem to be falling for it as much this time. 50k demand removed from the exchange is bound to drop prices a bit. I am still optimistic we will see the price climb above $3.50 in the next couple of days to a week. |
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Dan The Man
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November 17, 2011, 04:56:24 AM |
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how about next couple of minutes?
edit: sorry, I thought you said 2.5
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proudhon
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November 17, 2011, 04:59:33 AM |
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I mean, seriously, what were people doing buying all those coins in the past few hours. It was painfully obvious what was going on. I'm beyond baffled.
I certainly didn't buy any but perhaps he has taken down his bidwall to get some rest again. This is what seemed to happen the other day. Give it 6 hours and there will be another 50k coin bidwall. I noticed just before he got rid of it it was about 58k coins instead of 50k and it still hasnt dropped down near as much as the other day. He is trying to trigger a panic sell by some holders and they dont seem to be falling for it as much this time. 50k demand removed from the exchange is bound to drop prices a bit. I am still optimistic we will see the price climb above $3.50 in the next couple of days to a week. Why? Why will that much money go into bitcoins? There is absolutely no reason for that much money to suddenly jump in. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Dan The Man
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November 17, 2011, 05:03:46 AM |
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Take a look at the history, the money is already there, not for 3.5, but for 2.9 at least. It's just waiting on the sidelines for a good time to jump back in after the first crash a few days ago.
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bittenbob (OP)
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November 17, 2011, 05:06:08 AM |
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There is a lot of movement going on right now so there is a lot of money changing hands. Look at the volume for today already. Maybe our manipulator has even taken down his bidwall to stealth buy a bunch of coins at the dropped price. $0.15 drop for the wall going down and the volume being traded is not that bad at all.
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proudhon
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November 17, 2011, 05:09:18 AM |
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There is a lot of movement going on right now so there is a lot of money changing hands. Look at the volume for today already. Maybe our manipulator has even taken down his bidwall to stealth buy a bunch of coins at the dropped price. $0.15 drop for the wall going down and the volume being traded is not that bad at all.
Or...he's the one who sold. What appears to be going on is he puts up a ton of money, let's bids accumulate ahead of his giant bid (because people feel more confident when there appears to be a lot of support behind them), and then sells down into what accumulates. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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bittenbob (OP)
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November 17, 2011, 05:15:38 AM |
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There is a lot of movement going on right now so there is a lot of money changing hands. Look at the volume for today already. Maybe our manipulator has even taken down his bidwall to stealth buy a bunch of coins at the dropped price. $0.15 drop for the wall going down and the volume being traded is not that bad at all.
Or...he's the one who sold. What appears to be going on is he puts up a ton of money, let's bids accumulate ahead of his giant bid (because people feel more confident when there appears to be a lot of support behind them), and then sells down into what accumulates. Not the first time that theory has been mentioned in this thread. I think this person is having too much fun manipulating the market to simply get out of it. My guess is a stock trader who can't legally do this in the real world or someone who has been watching too many 80's stock market movies. It is entirely possible bitcoin crashes down to zero but I do not see that happening. There is some stability point that will eventually reached and my guess is we are somewhere aroudn this area. Even just buying and selling a few thousand coins on these waves could make someone a lot of money. As I said I think they are having too much fun to simply be cashing out. Of course the issue frequency won't drop until 2013 but once that does happen the price will increase significantly again. Wait to see another big bidwall within 6 hours, probably at 60k coins with all the extra cash he has earned from making people panic. The last time the wall disappeared was about this time of day as well. |
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Revalin
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November 17, 2011, 07:21:39 AM |
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I mean, seriously, what were people doing buying all those coins in the past few hours. It was painfully obvious what was going on. I'm beyond baffled.
We still have a whole lot of True Believers who aren't sure when the bad times are over and they really don't want to miss their opportunity to get in on the Biggest Thing Ever. They'd be long now if they hadn't already lost 80% and just couldn't afford to lose any more while this thing was going down, but Despair will be over SOON! I mean, it's been bottomed for weeks, right? So one of these waves is going to launch it! And they're not going to be left out. At least that's how it goes in the stock market. And Vegas. |
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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tvbcof
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November 17, 2011, 08:35:09 AM |
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I mean, seriously, what were people doing buying all those coins in the past few hours. It was painfully obvious what was going on. I'm beyond baffled.
We still have a whole lot of True Believers who aren't sure when the bad times are over and they really don't want to miss their opportunity to get in on the Biggest Thing Ever. They'd be long now if they hadn't already lost 80% and just couldn't afford to lose any more while this thing was going down, but Despair will be over SOON! I mean, it's been bottomed for weeks, right? So one of these waves is going to launch it! And they're not going to be left out. At least that's how it goes in the stock market. And Vegas. I would welcome one more opportunity to double-down if we are lucky enough to get deeply into the $1.xx's. FWIW, I've never spent more than about 30 minutes in a Casino in Nevada, though I was passing through Reno and payed for my hotel and dinner with a 50 cent bet in a slot machine earlier this year. Gambling has never really been something that excites or interests me...until Bitcoin came along I suppose one could argue. And I've never trusted the SEC enough to play in the stock market. |
sig spam anywhere and self-moderated threads on the pol&soc board are for losers.
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old_engineer
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November 17, 2011, 09:17:24 AM |
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I mean, seriously, what were people doing buying all those coins in the past few hours. It was painfully obvious what was going on. I'm beyond baffled.
Some of it is purchased to be resold for arbitrage with other exchange(s). I've done that before, and it's one reason why the price _always_ creeps back up in the minutes after a big sell-off. |
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