I like the manipulator, I had him all wrong, he is robbing you fools

[ElectricMucus]

I still question on whenever a single individual was responsible for any price movements recently.

The Manipulator is most likely different people who have access to enough funds to corner the market at the time. As for the recent situation consider this...

Mtgox codes can be transfered from and into an bitcoinica account without delay. So if someone has a lot of USD on either platform this becomes a viable option:

Wait till enough bidders have accumulated high enough. Short into it. Place several limit orders to liquidate on the panic sells. Once the storm has settled transfer the balance to your mtgox account and place bid walls and remove them once enough bidders have accumulated high enough....
Rinse and repeat.

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[Serge]

Tried imagining Edvard dealing with rare antiques, all i could come up with is seeing Edvard with piles of old comics: The Batman, The Superman, The Superwoman, ... The Manipulator!

[bitcoinBull]

I still question on whenever a single individual was responsible for any price movements recently.

How about that 500k BTC transfer?

Last time that many bitcoins were transferred in the blockchain, it was MagicalTux sending 424,242.42 BTC to prove control of MtGox deposits.

[bittenbob]

I am wondering if the manipulator waited for the market to naturally bottom out before getting back into it. Testing the waters to see how far it would drop before he came back with his money to buy as many coins as possible. The $2 invisible wall was hit and now he is showing off by putting a real (although perhaps temporary) wall at $2. Before he got back in there was a lot of volatility but now it seems to have stabilized quite a bit. So either we are saved or about to head to another big drop.

[ElectricMucus]

I still question on whenever a single individual was responsible for any price movements recently.

How about that 500k BTC transfer?

Last time that many bitcoins were transferred in the blockchain, it was MagicalTux sending 424,242.42 BTC to prove control of MtGox deposits.

which transfer, blockexplorer link?

Of course such an amount could explain these tactics too.

[bitcoinBull]

I still question on whenever a single individual was responsible for any price movements recently.

How about that 500k BTC transfer?

Last time that many bitcoins were transferred in the blockchain, it was MagicalTux sending 424,242.42 BTC to prove control of MtGox deposits.

which transfer, blockexplorer link?

Of course such an amount could explain these tactics too.

It was linked in the press thread:  http://siliconangle.com/blog/2011/11/17/500000-bitcoins-transferred-in-one-exchange/

And I followed the change to this addresss where it is currently:  http://blockexplorer.com/address/1CKmEA8NcSASCwbByFGQXbsnvWz7K5p7hs

Its probably MagicalTux consolidating coins, has anyone asked him on IRC?

[gewure]

He places these bid walls so that he can sell his own bitcoins in front of his walls to the suckers/fools. I like this because I do this on Ebay with rare antiques that I collect. When I see an antique that I want to buy, I will flood ebay with my own similar antiques. This will cause people to not bid so highly on the antique I want to buy because they see many more of the same or similar ones coming to the market. I then buy up the antique I want to buy, and then remove/end my ebay listings. Works like a charm.

I am manipulating ebay for the buying end, while the manipulator is manipulating for the selling end. We are both scamming the system, stealing from the suckers out there. We play on peoples psychology and stupidity. The manipulator makes bitcoin buyers think that there is lots of buying support, so they will pay more money. I make ebay  buyers think that there is much more items being sold, so I will buy them up cheaper.

first of all: hello, fuck you too! 
second: what you do is illegal
third: you are a free markets enemy
forth: i hope you feel bad about it

.. btw, congratulations for trolling me. i am here since a month or so, have not read anything about you. but your ebaymanipulations makes you very unsympathic.i think you are the kind of person, who would sell their grandmother (and even bid for other grandmothers, just to higher the price of yours), impure drugs (regardless of the outcome for the consumer) and afterwards be proud of oneself cause you made a higher profit. yay. the other ones are so stupid, omgf!! funny this must happen all the time also to you. what do you think how do the multinationals act like?

whatever, i am not idealistic, so i know there are alot of people around like you when it comes to economy, beeing the selfserving not only unethic but also illegal (if it is still rational, like in your case) manipulator of free markets. corporations, individuals and cartels acting like you are the number one reason there are still market failures out there. maybe i should overthink my ideal of free markets as totally utopian

but i still claim jurisdiction responsible at some point: there are laws against this sort of manipulation, just not beeing executed good enough.

[Edward50]

I like the manipulator, I had him all wrong, he is robbing you fools.

*snip*

I want most of the bitcoin holders to lose money.

*snip*

Someone brought to my attention what the manipulator is all about. He is about taking money from many of the bitcoin buyers, or "suckers/fools".

*snip*

I like this because I do this on Ebay with rare antiques that I collect ... Works like a charm.

*snip*

We are both scamming the system, stealing from the suckers out there. We play on peoples psychology and stupidity.

This post leaves me flabbergasted. I like you Edward, and you did help convince me that there was a manipulator, but what the hell? How did you not realize this sooner? Have you not been 'watching' the manipulator for months and months? I'm slightly disappointed to be honest, for someone who seemed otherwise quite perceptive.

It is also rather incongruous that you have been posting this whole time about 'helping' people, yet admit that you want the majority of them to lose money. And you have described the manipulator on several occasions using highly perjorative terms, yet admit to using similar types of tactics on ebay yourself? If so, you should have been more aware of what was happening.

Not quite sure how to respond. You are a hilarious enigma.

I watched the manipulator lose big time on the way down. I saw many of his bid walls being sold right into, and the price of bitcoins just went lower from that point. He bought many bitcions at prices where bitcoin never hit again. So he took a loss on all those coins. It did not seem like he was using his huge market share to try and make a profit. However, lately it seems like he is doing just that. Or at least it is working more now as the drops in bitcoin are not as extreme.

To me it looked like the manipulator was all along trying to hold up the bitcoin price with his bidwalls. however, come to think of it, sombody with that much money would not be stupid enough to catch a falling knife for so long.

I still think that he lost money with his tactics because he did not expect the price of bitcoin to fall for so long and as much. He figured on more stable prices, and figured his bid walls would push the price of bitcoin more in his favor.

Either way he undermines the trust in bitcoin and that should lead to a more lower price in the long run. If I was to buy bitcoins right now I would be worried about them falling if the manipulator pulled out. The price of bitcoin is without a doubt being controlled right now to an extent, and that is not something you want to invest in as the manipualtor has pulled out of the market too many times.

[gewure]

Either way he undermines the trust in bitcoin and that should lead to a more lower price in the long run. If I was to buy bitcoins right now I would be worried about them falling if the manipulator pulled out. The price of bitcoin is without a doubt being controlled right now to an extent, and that is not something you want to invest in as the manipualtor has pulled out of the market too many times.

true

[S3052]

unless the manipulator has unlimited funds, this issue will disappear naturally once more funds are added by more investors and traders.
The couple of hundredthousands he has in mtgox are still small overall in the financial world.
But you are right, there must be first some kind of trust of new investors... Or: one big investor just has the guts to make the manipulator look like a fool, with one big 500 k investment.
We know that this happens in the bitcoin economy. Back in Dec 10 - Apr 11 this is what actually happened.

[ElectricMucus]

If someone has sold 16.6K bitcoins at 30 that would equal to 500K USD on mtgox.

For me that is all the explanation I need.

[bitcon]

if there's a manipulator foolish enough to buy, there's 10 more willing to sell.

[mjcmurfy]

if there's a manipulator foolish enough to buy, there's 10 more willing to sell.

Once those 10 have sold all their coins, what then?

[ElectricMucus]

if there's a manipulator foolish enough to buy, there's 10 more willing to sell.

Once those 10 have sold all their coins, what then?

There are 7200 new coins every day and most miners have to pay their bills with their coins. Also from past experience the bidwall gets usally pulled out after enough other buyers piled up in front of it.

[mjcmurfy]

There are 7200 new coins every day and most miners have to pay their bills with their coins.

Most miners are not mining hundreds of coins per day and racking up huge electricity bills that are so enormous that they need to urgently liquidate their bitcoin positions. How many of those 7200 coins do you think actually NEED to be sold to pay bills? Very few I would imagine.

Also, how many people do you suppose are mining because they actually want bitcoin rather than fiat? Mining is the most inexpensive way to obtain coins, and if you wanted to invest in bitcoin but not pay the premium charged on the exchanges, mining is the best way to subsidize the cost you would otherwise pay.

This is of course speculation. I am far from certain because there are too many unknowns, but what I want you to admit is that you cannot be certain either. So stop pretending that you are. We all know that you are shorting on bitcoinica. Might I ask what at what position you are shorting from?

EDIT: I just saw your title text. Ok, so your posts consists of opinion and not fact. Still, opinions that are not based on fact should never be held that strongly. And my question still stands.

Also from past experience the bidwall gets usally pulled out after enough other buyers piled up in front of it.

You might be right. This has happened a lot, and the trend IS your friend...
Except of course when it's not, and you get sucker punched in the face.

[ElectricMucus]

Ok not most miners, just those big ones which do not want to (or can) pay the bills with their regular income. I'd imagine there are quite a few out there but eventually even that wall has to come down if fundamentals don't change.

Which brings me back to the trend & getting punched in the face: As long as bullish arguments are based on the attempt to induce fear I'd remain bearish.

[mjcmurfy]

If what I said seemed to you like an attempt to induce fear, I think you might need to re-evaluate your market position. If uncertainly induces fear in anyone, then they should not be trading at the levels they are trading at.

[ElectricMucus]

If what I said seemed to you like an attempt to induce fear, I think you might need to re-evaluate your market position.

Ahh reverse psychology....
So what exactly is a sucker punch? 

[mjcmurfy]

Ahh reverse psychology....
So what exactly is a sucker punch?  

An unexpected attack.

In the context in which I used it, an unexpected price movement that would trigger your stops. But since you said in another thread that you don't use stops, more likely it would cause a margin call or liquidation, wouldn't it? My meaning was the folly of being certain in the face of uncertainty.

As I said, if people are fearful after reading my post, then they are either trading at levels they really should not be trading at, or else they are more uncertain about their positions than they would care to admit.

[ElectricMucus]

If there is an unexpected rally which liquidates my position so be it.

But it would have to be large enough to be market reversal at the same time and in that case that happens now I don't wanna have anything to do with bitcoin. So for me subjectively that is a win-win situation. (while is objectively be not)