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Author Topic: MtGox manipulates Bitcoin price?  (Read 1716 times)
suppp
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January 11, 2012, 08:59:12 PM
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When triangle pattern is formed, someone unknown put a buy order (16000 BTC). This order can't be seen anywhere, except http://bitcoin.clarkmoody.com !!
Then order canceled and put again, situation repeated several times, until price break out of the triangle (increase)!

Source: http://www.youtube.com/watch?v=WGcO9BB87kE
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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epetroel
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January 12, 2012, 03:37:18 PM
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I believe it is possible to "hide" orders from people using the real time APIs.  Would work something like this:

1.  Place a buy order for 16000 BTC, but don't have the money in your account to cover it.
2.  Deposit enough money to cover your order.
3.  Order will become active, but will be invisible on MtGoxLive, at least for a while.

This would not work against charts that use the regular REST APIs though.
tsvekric
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January 13, 2012, 09:58:56 PM
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the only distortionary effects from MtGox on the price of bitcoin is the commission they take.

I wonder if those working for MtGox get 0% commission on their trades?
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January 13, 2012, 10:00:10 PM
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the only distortionary effects from MtGox on the price of bitcoin is the commission they take.

I wonder if those working for MtGox get 0% commission on their trades?
I think I remember MagicalTux stating that employees are not allowed to trade on mtgox.

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February 09, 2014, 10:05:51 PM
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Can't you effectively have a "hidden order" by using the API to check for a target price, then buy/sell as soon as you see an offer that matches?  Or am I misunderstanding what you mean by "hidden order"?
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