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Author Topic: Manipulator is back  (Read 1519 times)
Elwar
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November 29, 2011, 09:52:23 PM
 #1

After a nice quiet weekend of slow increase in price, the manipulator is back.

With huge bid walls and fluctuating prices.

Get ready for the price to drop. That is the mission of "the manipulator".

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Edward50
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November 29, 2011, 10:03:09 PM
 #2

The manipulator is basically subsidizing the bitcoin price right now. He is paying money out of his own pocket. You have to always look at the fundamentals and understand that supply is much higher than demand, and without the manipulator the price would be in the $1.00 range.

The question remains if he actually profits from selling above his bidwalls. I am not convinced that he is able to do this. I think many more people are still selling than buying, and he will have to buy up alot of bitcoins to hold these higher price levels.

The higher he tries to push the price up the more money it will cost him. It will also cost him exponentially as he pushes higher, as more hoarders decide to take advantage and unload into his bidwalls.

In all honesty he is a fool, and will lose.

Fundamentals will win in the end, I doubt he can be that stupid to throw this much money away buying up all these, basically useless, bitcoins.

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gimme_bottles
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November 29, 2011, 10:11:27 PM
 #3

can't wait for that wall to get pulled out  Grin

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November 29, 2011, 10:13:54 PM
 #4

Look, lol...

First of all, what you describe is not called manipulation, it's called buying. Second, though it is quite possible, I don't see any reason to believe that a single person is buying up half the market. Most of the volume is in smaller trades, and we don't know who orders them. And finally, it's quite a stretch to call Bitcoins useless. If the project does indeed reach critical mass, this large buyer will have made the deal of his lifetime.

And what does this all mean to us? Oh wow, someone put up 150k USD into a single order. That's like what, not even a third of today's trade volume. Get over it, this is vastly insufficient to turn the world upside down.
Elwar
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November 29, 2011, 10:17:44 PM
 #5

I would have thought that he was smart and manipulating to make money...but after watching long enough, he drives the price down over and over...most often keeping it low before vanishing again

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epetroel
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November 29, 2011, 10:30:28 PM
 #6

Saw this today on mtgoxlive.  Apparently the mysterious manipulator wanted to be REALLY sure the price didn't drop below $2.80

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November 29, 2011, 10:38:38 PM
 #7

I saw this glitch too, while working with MtGoxLive. I thought its just problem with re-zooming after the bids/asks wall got updated. When I reloaded the page (which unzooms completely), the problem disappeared.

If it was not a glitch in viewer, then, it would indicate that the manipulator is someone from MtGox itself and that he, once again, screwed things a bit.

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November 30, 2011, 02:55:34 AM
 #8

Not a glitch, someone genuinely has over $36Billion USD on deposit with mtgox and they're about to make you rich Wink

(coz that's just the kind of fantasy that flies around here!)



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November 30, 2011, 03:05:59 AM
 #9

Not a glitch, someone genuinely has over $36Billion USD on deposit with mtgox and they're about to make you rich Wink

(coz that's just the kind of fantasy that flies around here!)

That would make the list of possible people a short one. Only 5 poeple in the world with that kind of money.
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November 30, 2011, 03:19:30 AM
 #10

Either that or MTGox Live has been having all kinds of bugs lately. I have seen lines that dont make sense and that is likely what this is. They seem to be updating MtGox for some grand reopening in 2 days which is probably causing these glitches. Either that or it is having a hard time keeping up with the volume.
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November 30, 2011, 05:05:26 AM
 #11

Not a glitch, someone genuinely has over $36Billion USD on deposit with mtgox and they're about to make you rich Wink

(coz that's just the kind of fantasy that flies around here!)


Maybe Mt. Gox was just testing their systems to make sure that things will be working with the kinds of numbers that will probably be the norm in 2012.  It's prudent to be pro-active with these kinds of things.


ElectricMucus
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November 30, 2011, 05:15:54 AM
 #12

The balance on mtgox is just numbers anyway.

As other possibilities besides that this screenshot is a fake is that mtgox is, and was compromised the whole time.
We really need a decentralized exchange.

Badly.

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RyNinDaCleM
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November 30, 2011, 05:36:46 AM
 #13

It wasn't 13billion BTC, but I did see a 350k order for a minute earlier today. Biggest I've seen until this shot. There have been a few other anomalies on GoxLive lately too. I don't think they've been compromised, or  they would have rolled back... again.  Roll Eyes

old_engineer
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November 30, 2011, 06:13:40 AM
 #14

The balance on mtgox is just numbers anyway.

As other possibilities besides that this screenshot is a fake is that mtgox is, and was compromised the whole time.
We really need a decentralized exchange.

Badly.
Does anyone here use #bitcoin_otc?  I have in the past, but it was dead the last time I visited.
BTCurious
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November 30, 2011, 08:01:11 PM
 #15

The balance on mtgox is just numbers anyway.

As other possibilities besides that this screenshot is a fake is that mtgox is, and was compromised the whole time.
We really need a decentralized exchange.

Badly.
Does anyone here use #bitcoin_otc?  I have in the past, but it was dead the last time I visited.
No, I don't use #bitcoin_otc. I use #bitcoin-otc, and it's very much alive Smiley

epetroel
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November 30, 2011, 09:05:25 PM
 #16

The balance on mtgox is just numbers anyway.

As other possibilities besides that this screenshot is a fake is that mtgox is, and was compromised the whole time.
We really need a decentralized exchange.

Badly.

I'm sure it was some sort of mtgoxlive bug.  The screenshot isn't a fake, but as soon as I refreshed the page after taking the screenshot, things were back to normal.
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