We were all heading to cheap bitcoins, until the manipulator stepped in

[Edward50]

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

He seems to never want to give up.

This all happened in les than a half hour.

Before manipulator

Bid 1.8 25212.31
Bid 1.85 1949.45
Bid 1.9 12422.69
Bid 1.95 2773.57
Bid 2 2898.88
Ask 2.05 132.04
Ask 2.1 702.56
Ask 2.15 796.28
Ask 2.2 3334.99
Ask 2.25 3727.33
Ask 2.3 8284.11
Ask 2.35 2841.4
Ask 2.4 3593.7


After manipulator

Bid   1.8   28766.27
Bid   1.85   1934.13
Bid   1.9   5399.11
Bid   1.95   2691.57
Bid   2   33528.57
Bid   2.05   17787.54
Bid   2.1   20412.92
Bid   2.15   15180.71
Bid   2.2   5397.41
Bid   2.25   2176.57
Ask   2.3   7402.8
Ask   2.35   2774.25
Ask   2.4   3674.36

[bittenbob]

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

He seems to never want to give up.

This all happened in les than a half hour.

Before manipulator

Bid 1.8 25212.31
Bid 1.85 1949.45
Bid 1.9 12422.69
Bid 1.95 2773.57
Bid 2 2898.88
Ask 2.05 132.04
Ask 2.1 702.56
Ask 2.15 796.28
Ask 2.2 3334.99
Ask 2.25 3727.33
Ask 2.3 8284.11
Ask 2.35 2841.4
Ask 2.4 3593.7


After manipulator

Bid   1.8   28766.27
Bid   1.85   1934.13
Bid   1.9   5399.11
Bid   1.95   2691.57
Bid   2   33528.57
Bid   2.05   17787.54
Bid   2.1   20412.92
Bid   2.15   15180.71
Bid   2.2   5397.41
Bid   2.25   2176.57
Ask   2.3   7402.8
Ask   2.35   2774.25
Ask   2.4   3674.36

Oh boo hoo you arent going to crash bitcoin today. Too f**kin bad!

[Edward50]

Well, you may win today, but I got time on my side, you don't. You better pray that your manipulator buddy keeps paying the price to hold bitcoin above $2.00.

[Jonathan Ryan Owens]

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

He seems to never want to give up.

This all happened in les than a half hour.

Before manipulator

Bid 1.8 25212.31
Bid 1.85 1949.45
Bid 1.9 12422.69
Bid 1.95 2773.57
Bid 2 2898.88
Ask 2.05 132.04
Ask 2.1 702.56
Ask 2.15 796.28
Ask 2.2 3334.99
Ask 2.25 3727.33
Ask 2.3 8284.11
Ask 2.35 2841.4
Ask 2.4 3593.7


After manipulator

Bid   1.8   28766.27
Bid   1.85   1934.13
Bid   1.9   5399.11
Bid   1.95   2691.57
Bid   2   33528.57
Bid   2.05   17787.54
Bid   2.1   20412.92
Bid   2.15   15180.71
Bid   2.2   5397.41
Bid   2.25   2176.57
Ask   2.3   7402.8
Ask   2.35   2774.25
Ask   2.4   3674.36

Oh boo hoo you arent going to crash bitcoin today. Too f**kin bad!

Crash? CRASH?

You know what's really happening? There's a lot of people that are fed up and tired of the speculative bullshit, and they want Bitcoin to stop being a fucking ponzi scheme (that you promote, apparently) and would *really* like to see it in daily use. Guess what? You're a dick. The manipulator is a misguided libertarian douche who's sole sense of self worth is the fiat price of a bitcoin. He probably read half of Atlas Shrugged, and rewrote the money speech to apply to Bitcoin.

Yeah, it's so great that Bitcoin is being defended at $2.. Mmhm..

Funny thing is, his efforts to stem the falling price make bitcoin less attractive as an alternative currency. He longs for the days of June / July when people would actually listen to his foul smelling bullshit.

Anyways, good luck trading! Watch those walls keep crashing down. We'll find a rational price.. eventually.

[bittenbob]

$2-$3 is a rational price. $30 is not.

Coincidentally I own less than 10BTC myself because I only mine and have only started doing so recently. So for those of you calling me a deuche or whatever you want go fuck yourself! $2-$3 is a much more rational price because if the price of mining drops so low that it becomes uneconomical for most GPU miners than it can be hijacked.

Go fuck yourself indeed.

[Edward50]

I agree with you 100% Jonahan. I honestly look forward to a bitcoin that I can actually use and spend, without worrying about price fluctuations etc. When we were finally crashing down into the $1.00 range today I was actually thinking of how cool it would be to buy bitcoins and use them for online gambling, etc. However, I don't want to even go near it when it is in a constant decline and being held up by a sole person trying to protect his bitcoin fortunes.

Bitcoin will probably be stable around $1.00 or close to parity with the dollar. I sure that the developers had the dollar in mind when they created it and set the number of bitcoins.

[DeathAndTaxes]

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

How is $1 BTC better than $2 BTC or $20,000 BTC?

[ElectricMucus]

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

How is $1 BTC better than $2 BTC or $20,000 BTC?

Far off dude. 

[bittenbob]

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

How is $1 BTC better than $2 BTC or $20,000 BTC?

Its irrelevant and the point I have been making. A bitcoin is worth what it is worth and that has yet to have been determined. Some people seem to want to drive the price down (aka the manipulator(s)) as far as it can go so they can get as much as they can. Does anyone actually think he pulls out his big bidwalls for any other reason than to drop the price?

[Edward50]

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

How is $1 BTC better than $2 BTC or $20,000 BTC?

Its irrelevant and the point I have been making. A bitcoin is worth what it is worth and that has yet to have been determined. Some people seem to want to drive the price down (aka the manipulator(s)) as far as it can go so they can get as much as they can. Does anyone actually think he pulls out his big bidwalls for any other reason than to drop the price?

YOu have it all wrong, the manipualtor was likely the reason it shot up to $30. I have been watching him very closely for months. He only pulls out bidwalls after they are sold into. Most are fake to offer buying support. It seems like people with large bitcoin holdings like to use the manipulators bidwalls to sell out their bitcoins because you can dump them into a 10K bidwall and not drop the price any.
He must know this, and knows that if he holds his bidwalls up there then they are just wasted away. That is why he usually sets a bidwall, and then smaller bidwalls above it.

He does not want the price to drop at all.

[Edward50]

It is obvious that bittenbob has sunk money into mining and is emotionally compromised. I have seen this behavior many months after the drop from $30.

Anyway, we are slowly chewing away at the manipulators bidwalls, he won't hold for long.

Bid 1.85 1935.68
Bid 1.9 5324.66
Bid 1.95 2703.77
Bid 2 34059.95
Bid 2.05 18246.76
Bid 2.1 20562.15
Bid 2.15 15213.57
Bid 2.2 3408.67 Ask 2.25 1604.83
Ask 2.3 6707.44
Ask 2.35 2838.93

[DeathAndTaxes]

YOu have it all wrong, the manipualtor was likely the reason it shot up to $30. I have been watching him very closely for months. He only pulls out bidwalls after they are sold into. Most are fake to offer buying support. It seems like people with large bitcoin holdings like to use the manipulators bidwalls to sell out their bitcoins because you can dump them into a 10K bidwall and not drop the price any.  He must know this, and knows that if he holds his bidwalls up there then they are just wasted away. That is why he usually sets a bidwall, and then smaller bidwalls above it.

He does not want the price to drop at all.

Didn't make the connection that the same "manipulator" can be both parties.  Most of the time only a token amount of Bitcoins are sold into the bidwall.  What does get traded is all the suckers who feel "safe" by the bidwall and put orders 1 penny out in front.

So
1) put up bidwall
2) wait for suckers to but buy orders in front of the safe wall
3) pull out bidwall and sell into the suckers
4) wait until price collapses another 20 to 30 cents.
5) see step #1.

An effective method he is using to unload hundreds of thousands of coins.

[Edward50]

YOu have it all wrong, the manipualtor was likely the reason it shot up to $30. I have been watching him very closely for months. He only pulls out bidwalls after they are sold into. Most are fake to offer buying support. It seems like people with large bitcoin holdings like to use the manipulators bidwalls to sell out their bitcoins because you can dump them into a 10K bidwall and not drop the price any.  He must know this, and knows that if he holds his bidwalls up there then they are just wasted away. That is why he usually sets a bidwall, and then smaller bidwalls above it.

He does not want the price to drop at all.

Didn't make the connection that the same "manipulator" can be both parties.  Most of the time only a token amount of Bitcoins are sold into the bidwall.  What does get traded is all the suckers who feel "safe" by the bidwall and put orders 1 penny out in front.

So
1) put up bidwall
2) wait for suckers to but buy orders in front of the safe wall
3) pull out bidwall and sell into the suckers
4) wait until price collapses another 20 to 30 cents.
5) see step #1.

An effective method he is using to unload hundreds of thousands of coins.

I see your point, but I do not see this working, mainly because I see so much of his bidwalls getting sold into and wiped out. He has bought so many bitcoins like this, and usually when his bidwalls all get sold into, the price never rises back up to that level again. I see in theory how what you describe can work, but i just do not see it happening.

[bittenbob]

It is obvious that bittenbob has sunk money into mining and is emotionally compromised. I have seen this behavior many months after the drop from $30.

Anyway, we are slowly chewing away at the manipulators bidwalls, he won't hold for long.

Bid 1.85 1935.68
Bid 1.9 5324.66
Bid 1.95 2703.77
Bid 2 34059.95
Bid 2.05 18246.76
Bid 2.1 20562.15
Bid 2.15 15213.57
Bid 2.2 3408.67 Ask 2.25 1604.83
Ask 2.3 6707.44
Ask 2.35 2838.93

Try reading before you post. I have not sunk one red cent into mining. I built myself a gaming computer for BF3, MW3 and other games alike. I would like to see bitcoin succeed because I think fiat currencies are a load of bull. Anyone who has watched Zeitgeist would. The only thing I do agree with you is that the manipulator will very soon pull his bidwalls out and the price will fall again.

[ElectricMucus]

It is obvious that bittenbob has sunk money into mining and is emotionally compromised. I have seen this behavior many months after the drop from $30.

Anyway, we are slowly chewing away at the manipulators bidwalls, he won't hold for long.

Bid 1.85 1935.68
Bid 1.9 5324.66
Bid 1.95 2703.77
Bid 2 34059.95
Bid 2.05 18246.76
Bid 2.1 20562.15
Bid 2.15 15213.57
Bid 2.2 3408.67 Ask 2.25 1604.83
Ask 2.3 6707.44
Ask 2.35 2838.93

Go on, panic sell now.

There will be a better shorting opportunity ahead.

[DeathAndTaxes]

The goal isn't to get the price to rise.  Look at how much orders build up in front the build wall, they are all wiped out giving the seller a nice exit point.  A tiny portion of the bidwall gets sold into and then he moves it. 

Sell a lot of coins > bidwall.   Buy some of them back @ bidwall, then drop bidwall.  Prices goes down but not as much as an unsupported freefall that would happen is someone just tried to unload 300K coins.

The bidwall is the "security" than makes the bulls come out and play so the very same person can wipe them out and then move the wall.  The only funny/sad part is how many times he can do it and each time the suckers put the buys right in front of the wall.

Someone is making a nice large exit from BTC, doing it rapidly and getting a decent price (given the amount he/she is trying to unload).

TL/DR:
the manipulator can't find enough suckers/patsies to keep the price stable but they are soaking up his sell-off and giving him a better exit point.

[tvbcof]

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

How is $1 BTC better than $2 BTC or $20,000 BTC?

To be useful as a currency, BTC needs to be up closer to $100/BTC if it has any sort of volatility.  The reason is that it needs to be obtained shortly before it is needed and gotten rid of quickly after the transaction.  Either that, or pay someone like Bitcoinica a lot to hedge.  When the price is low as it is right now, attempting to acquire or dump BTC for one silly little transaction moves the markets noticeably.  If volatility increased to the point where this was not the case (at the current prices), then most of the value of the whole system would be sucked up by the exchanges over a fairly short period of time.

Currently Bitcoin is being used mainly as the only thing it is good for.  An entertaining novelty and study.  All my opinion, of course.

[DeathAndTaxes]

To be useful as a currency, BTC needs to be up closer to $100/BTC if it has any sort of volatility. <snip>

You do realize that volatility is % not nominal move right.  If BTC was $100 today instead of $0.20 daily moves you would be seeing $15 daily moves.

Think about it for a second a BTC is perfectly divisible so the nominal value is utterly irrelevant.  Say the block reward had been 1 BTC not 50.  Today there would be 1/50th as many coins in circulation and price would be 50x as high.  We would have the same voltility and on the larger nominal value would result in larger nominal moves.

The reverse is also true.  Say the block reward was 5000 BTC.  We would be looking at $0.02 BTC price and although in nominal terms the daily move would be a fraction of a cent volatility would still be the same.

[slush]

To be useful as a currency, BTC needs to be up closer to $100/BTC if it has any sort of volatility.  The reason is that it needs to be obtained shortly before it is needed and gotten rid of quickly after the transaction.  Either that, or pay someone like Bitcoinica a lot to hedge.  When the price is low as it is right now, attempting to acquire or dump BTC for one silly little transaction moves the markets noticeably.  If volatility increased to the point where this was not the case (at the current prices), then most of the value of the whole system would be sucked up by the exchanges over a fairly short period of time.

Exactly. People wanting coins for 1$ don't see the point that small market == higher volatility and easy to play with whole economy, like we're watching those days. With 100$/coin it would be much harder to be "a manipulator" for single entity, because such entity needs tens or hundreds millions of dollars.

[bittenbob]

To be useful as a currency, BTC needs to be up closer to $100/BTC if it has any sort of volatility.  The reason is that it needs to be obtained shortly before it is needed and gotten rid of quickly after the transaction.  Either that, or pay someone like Bitcoinica a lot to hedge.  When the price is low as it is right now, attempting to acquire or dump BTC for one silly little transaction moves the markets noticeably.  If volatility increased to the point where this was not the case (at the current prices), then most of the value of the whole system would be sucked up by the exchanges over a fairly short period of time.

Exactly. People wanting coins for 1$ don't see the point that small market == higher volatility and easy to play with whole economy, like we're watching those days. With 100$/coin it would be much harder to be "a manipulator" for single entity, because such entity needs tens or hundreds millions of dollars.

I honestly have to wonder if these people are trying to drive the value down so they can cash in on their shorts or buy a lot of coins at a lower value. Interestingly enough I just saw somone take a 1000BTC bite out of the 2.20 bidwall so we will see how much longer he has it there.