Its shocking and depressing to read BOTS made bitcoin boom!

[Ron~Popeil]

There are bots everywhere. I get hundreds of e-mails a month for forex bots alone. The current market says no big deal and I tend to agree with it. 

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[GigaBit]

Just like they caused every boom and crash in history.

Well, not robots but the original stock ticker (Named so because it ticked like a clock) was a machine.

Bots are used in every exchange and are built to favor the growth of the stock's price rather than penalizing it. 

The higher the amount of transactions, the bots do it automatically to sell more of that stock and crank up the price.

Not much difference with any other market...  However, when prices crash, the bot follows along to fill the sale demand.

Not depressing, it's facts of life

[helmax]

so they can increase price anytime
and can play with us

[SomethingElse]

When a bot raises the price so much that it becomes out of proportion to the float (the amount willing to be sold) then the market will crash, but as long as people are willing to buy and sell, it will be okay.  On Forex the bots push the price up and up and up and then cash out.  The last people to have bought are bag holders.  This is also a constantly repeated in crypto over and over.  The bots are making a killing at day trading.  I think darkcoin was recently pumped too.  NXT seems to have been pumped but is holding its price now just like bitcoin.   

[BTCisthefuture]

interesting news indeed. although i don't find it too shocking,  one way or another there's always some sort of heavy manipulation going on with things involving money...whether it be stocks, commodities, bitcoin etc etc.

[ranlo]

Willie account was posted at least 4 months ago on Reddit  HERE and HERE with the suspicious trading activity and potentially inflated prices.

Article is lifted from old material, although well pieced together with pictures and charts.

It's old news, market has already priced it in.

How exactly willie story is disproved? or proved?

because both can have a lot of effect over the market

Likely it will never be proved or disproved as even though you could theoretically prove it was from inside Gox you can't prove they were operating them or knew.

I read over the entire thing (which took quite a while) and I left without an opinion one way or another myself. We can read into it and make assumptions like the writer did, or we can think critically and all come up with other opinions as to what happened and who did it. I am reserving judgement myself.

[zetaray]

There are bots in stock exchange aswell. They are accepted as part of the equity ecosystem. I admit the gox bot is different. They are trading vapour fiat. The bots are not the only reason we get those booms, they only accelerated them.

[Ron~Popeil]

The market inevitably corrects these bubbles no matter how they are created. Watch the stock markets when the fed finally starts raising interest rates.

[Bitcoinpro]

 willy the trading bot just bought my coffee and blew the change 

[jonald_fyookball]

STOP spreading FUD. Who cares what caused the price increase 6 months ago. 

Thank you.  nuff said here.  you can close the thread now.

[Beliathon]

It's shocking and depressing reading how stupid you people are.

STOP spreading FUD. Who cares what caused the price increase 6 months ago. 

QFT

[MasterKey]

What is driving the BTC price now? Is it bots?

[Swordsoffreedom]

So the argument is that Bots secretly control the price
I think it overvalues the influence the bot has

[ranlo]

What is driving the BTC price now? Is it bots?

Places like Facebook, eBay and PayPal are driving it with their news I think. There hasn't been anything "official" yet, but all three have been in talks about accepting Bitcoin lately.

[waldox]

i remember in the 2013 china buy up
btc china had a consistent 20% markup on price vs bitstamp and more volume too
so willy may have had an impact but it would be small compared to china

[atc1]

How does it even matter if bots had anything to do with the price? As long as there are people who are willing to purchase at a given price,then that price is the one that matters.

[ranlo]

How does it even matter if bots had anything to do with the price? As long as there are people who are willing to purchase at a given price,then that price is the one that matters.

I think it upsets people because of the community aspect. When one person buys, others view that as being an accurate description of its value. When the bots buy 10k BTC at fake rates, others feel that it must be how the market is doing when it's really not. This causes the prices to go up (or down) according to fake data.

[jonald_fyookball]

How does it even matter if bots had anything to do with the price? As long as there are people who are willing to purchase at a given price,then that price is the one that matters.

I think it upsets people because of the community aspect. When one person buys, others view that as being an accurate description of its value. When the bots buy 10k BTC at fake rates, others feel that it must be how the market is doing when it's really not. This causes the prices to go up (or down) according to fake data.

The whole story about bots is pretty much irrelevant because there were probably layers of shenanigans going on at Gox.
Gox prices were out of line with the rest of the market and couldnt be arbitraged back because
of the withdrawal issues.

If manipulation were to start occuring a major brokerage or exchange right now
(bots or no bots), they would lose money to arbitragers.

[ranlo]

How does it even matter if bots had anything to do with the price? As long as there are people who are willing to purchase at a given price,then that price is the one that matters.

I think it upsets people because of the community aspect. When one person buys, others view that as being an accurate description of its value. When the bots buy 10k BTC at fake rates, others feel that it must be how the market is doing when it's really not. This causes the prices to go up (or down) according to fake data.

The whole story about bots is pretty much irrelevant because there were probably layers of shenanigans going on at Gox.
Gox prices were out of line with the rest of the market and couldnt be arbitraged back because
of the withdrawal issues.

If manipulation were to start occuring a major brokerage or exchange right now
(bots or no bots), they would lose money to arbitragers.

I do agree that the bots are less relevant than the other things that were happening towards the end, but the bots were an issue long before Gox started having their withdrawal problems and everything else. If you follow the story, this was all months prior to that (and may have contributed to the issues Gox ended up facing, though it's hard to tell).

[Ron~Popeil]

This is a truly free market. It will correct itself over time. There are a lot of people smarter than me that say BTC is still under valued. I tend to believe them.