The Willy Report...What do you guys make of it?

[Wandererfromthenorth]

Seriously, if you believe that a SINGLE BOT can be the major reason for a bitcoin bubble you should probably turn off your computer and stop trading right now before bad decisions will cost you money. lol

[igorr]

Seriously, if you believe that a SINGLE BOT can be the major reason for a bitcoin bubble you should probably turn off your computer and stop trading right now before bad decisions will cost you money. lol

Seriously, if you can not believe that a SINGLE BOT can be the major reason for a bitcoin bubble,
you should convert your USD to BTC. 

[Wandererfromthenorth]

Consider this:

If willy was the major cause of the huge spike in price and the whole bubble  we would have had ALL (or a VAST majority) of the trading  volume on MtGox while other exchanges would have had INSIGNIFICANT amounts of volume COMPARED to Gox.
The only way for exchanges to drive the price up would have been to higher the asks without massive buying (simply gradually adjusting the price as MtGox was going higher) --> bubble with low volume on the other exchanges.

Of course these big differences in volume didn't happen, there were equal and huge amounts of volume on all the major exchanges, that means that the actual panic  buying was happening, and it was real, no Willy Wonka bot CAUSING the bubble.



Willy probably had some influence, but not much considering the volume spread across all exchanges.

[Polycoin]

Seriously, if you believe that a SINGLE BOT can be the major reason for a bitcoin bubble you should probably turn off your computer and stop trading right now before bad decisions will cost you money. lol

Seriously, if you can not believe that a SINGLE BOT can be the major reason for a bitcoin bubble,
you should convert your USD to BTC.  

I've read all your posts and they all make no sense, can you not think for yourself or do you take whatever others say without thought, dumbass? And thus I ignore you, classifying you as a retard beyond comprehension.

[igorr]

Check what google says !

https://www.google.nl/search?q=willy+bot&noj=1&source=lnt&tbs=qdr:w&sa=X&ei=D3aDU-2hK8WbO7fGgdgK&ved=0CB4QpwUoAw&biw=1000&bih=721

[Polycoin]

Check what google says !

https://www.google.nl/search?q=willy+bot&noj=1&source=lnt&tbs=qdr:w&sa=X&ei=D3aDU-2hK8WbO7fGgdgK&ved=0CB4QpwUoAw&biw=1000&bih=721

The trading bot, or rather money laundering machine, was already factored into Bitcoin's price.

[ndrog]

I have been hearing all sorts of point of views on the subject, ranging from CIA conspiracy to crush bitcoin, China, bankers, money laundering and the list goes on and on.
It is too soon to pin point exactly the main purpose of this bot & its culprits  (apart from rigging the price).
It's going to be one bumpy ride that's for sure. 

[igorr]

I have been hearing all sorts of point of views on the subject, ranging from CIA conspiracy to crush bitcoin, China, bankers, money laundering and the list goes on and on.
It is too soon to pin point exactly the main purpose of this bot & its culprits  (apart from rigging the price).
It's going to be one bumpy ride that's for sure. 

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

[Polycoin]

I have been hearing all sorts of point of views on the subject, ranging from CIA conspiracy to crush bitcoin, China, bankers, money laundering and the list goes on and on.
It is too soon to pin point exactly the main purpose of this bot & its culprits  (apart from rigging the price).
It's going to be one bumpy ride that's for sure. 

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

There was never a pump to begin with..Go learn english, fool.

[ndrog]

I have been hearing all sorts of point of views on the subject, ranging from CIA conspiracy to crush bitcoin, China, bankers, money laundering and the list goes on and on.
It is too soon to pin point exactly the main purpose of this bot & its culprits  (apart from rigging the price).
It's going to be one bumpy ride that's for sure. 

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

Maybe

[igorr]

I have been hearing all sorts of point of views on the subject, ranging from CIA conspiracy to crush bitcoin, China, bankers, money laundering and the list goes on and on.
It is too soon to pin point exactly the main purpose of this bot & its culprits  (apart from rigging the price).
It's going to be one bumpy ride that's for sure.  

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

There was never a pump to begin with..Go learn english, fool.

$430 to $590 for 3 days ?
Why ?
Willy bot is broken ?
willy bot is uncovered ?

and first, you learn Russian, fool

[JorgeStolfi]

there is a very clear aspect here of blaming China for the problems, when it's clear the corruption is not coming from China.

I do not get what you are getting at.  It is obvious that there was foul play at MtGOX, and China does not seem directly responsible for it (although, if it was indeed arbitrage as I believe, there may have been other people involved at the other end.)

The "arbitrage hypothesis" does not change the basic fact claimed by the Willy Report: someone inside MtGOX bought bitcoins from clients, but instead of paying them with real dollars (as the clients thought) paid them with fictitious "goxDollars", mere IOUs without any backing assets.  That, I suppose, is a crime in itself.  Presumably the buyer thought that he could get real dollars in time to make good on those IOUs, without the clients ever knowing.   Of course the goxDollars were as good as real dollars in raising the price at MtGOX.

The only contribution of the "arbitrage hypothesis" is the claim that those bitcoins were sold in China, and that the price at MtGOX merly tracked the 2013 bubbles, instead of creating them.

[Polycoin]

I have been hearing all sorts of point of views on the subject, ranging from CIA conspiracy to crush bitcoin, China, bankers, money laundering and the list goes on and on.
It is too soon to pin point exactly the main purpose of this bot & its culprits  (apart from rigging the price).
It's going to be one bumpy ride that's for sure.  

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

There was never a pump to begin with..Go learn english, fool.

$430 to $590 for 3 days ?
Why ?
Willy bot is broken ?
willy bot is uncovered ?

and first, you learn Russian, fool

You're so stupid, this is an english forum.

[igorr]

I have been hearing all sorts of point of views on the subject, ranging from CIA conspiracy to crush bitcoin, China, bankers, money laundering and the list goes on and on.
It is too soon to pin point exactly the main purpose of this bot & its culprits  (apart from rigging the price).
It's going to be one bumpy ride that's for sure.  

bitcoin pump is stopped.
Why ?
Willy bot is broken ?
willy bot is uncovered ?

There was never a pump to begin with..Go learn english, fool.

$430 to $590 for 3 days ?
Why ?
Willy bot is broken ?
willy bot is uncovered ?

and first, you learn Russian, fool

You're so stupid, this is an english forum.

really ?

[bluemeanie1]

there is a very clear aspect here of blaming China for the problems, when it's clear the corruption is not coming from China.

I do not get what you are getting at.  It is obvious that there was foul play at MtGOX, and China does not seem directly responsible for it (although, if it was indeed arbitrage as I believe, there may have been other people involved at the other end.)

The "arbitrage hypothesis" does not change the basic fact claimed by the Willy Report: someone inside MtGOX bought bitcoins from clients, but instead of paying them with real dollars (as the clients thought) paid them with fictitious "goxDollars", mere IOUs without any backing assets.  That, I suppose, is a crime in itself.  Presumably the buyer thought that he could get real dollars in time to make good on those IOUs, without the clients ever knowing.   Of course the goxDollars were as good as real dollars in raising the price at MtGOX.

The only contribution of the "arbitrage hypothesis" is the claim that those bitcoins were sold in China, and that the price at MtGOX merly tracked the 2013 bubbles, instead of creating them.

well this is the basic problem, that they are inflating the price of BTC.  The plan was to make a pump and dump scheme, get people to buy in, and then get out before the music stops.  The problem was the Chinese exchanges who were not in on it, and probably took off with some of the money.

note that the suicide CEO exchange was in Singapore, which is a typical financial mediator between Asia and various Western countries.  Not completely sure what happened here but it seems likely this is part of the puzzle.

-bm

[igorr]

massive fraud

[bluemeanie1]

massive fraud

clearly there's some hidden element here involving mostly China and partly Russia.  The Chinese are obviously tripping up some kind of back-room dealings, and they're blaming the corruption on them when clearly it's not coming from China.

-bm

[igorr]

massive fraud

clearly there's some hidden element here involving mostly China and partly Russia.  The Chinese are obviously tripping up some kind of back-room dealings, and they're blaming the corruption on them when clearly it's not coming from China.

-bm

Now, China only copies MtGox and willy bot or more precisely Huobi copies all and bitstamp follows
because now  90% mining company working in China and they want to pump bitcoin prices.

It's the same story, but different actors.

[ndrog]

massive fraud

clearly there's some hidden element here involving mostly China and partly Russia.  The Chinese are obviously tripping up some kind of back-room dealings, and they're blaming the corruption on them when clearly it's not coming from China.

-bm

This is a scandal of great proportion, no doubt about it.
Wait until the Mainstream News Agencies get hold of this story.
Good Times. 

[bluemeanie1]

massive fraud

clearly there's some hidden element here involving mostly China and partly Russia.  The Chinese are obviously tripping up some kind of back-room dealings, and they're blaming the corruption on them when clearly it's not coming from China.

-bm

Now, China only copies MtGox and willy bot or more precisely Huobi copies all and bitstamp follows
because now  90% mining company working in China and they want to pump bitcoin prices.

It's the same story, but different actors.

You must have a monopoly(or greatly dominate) the exchanges to run a scam like this.  If someone else is pumping, or not pumping and just selling them off- then it would cause issues.  You need real money to 'prime the pump' and I guess this Chinese activity was siphoning off some of that which might have caused the disruption, and then some insiders sell off large amounts to cover their bases.  I dont see the strange events surrounding the Singapore exchange to be a coincidence.

A (somewhat) plausible yet speculative explanation.

-bm