Hi
Ive been watching this bitcoin price go up and down and everytime it seems that bots are moving the price up and down.
I dont have any btc on any exchange so I dont know how it actually works but to me it seems that following are true (based on just watching the price)
1. One person/entity can have multiple buy/sell orders at the same time?
2. there are fake buy and sell walls, just to move the price to some direction, without actual want to buy or sell?
3. there are no fees/provision on setting the order?
As there is intention to adjust the price with fake orders, can we prevent this. Sometimes walls disappear on the fly and some "fish" get caught this way on high/low price etc.
My proposition is very simple:
There should be minimum amount of time that the order stays on for example bitstamp. One could set the order at any time, but then it would stay on the site for say 24 hours or at least 1 hour. No removal during this "just making sure that this offer is real deal" time period.
I think this would help bitcoin overall and I think on "real money/interest/loan exchanges" manipulating the market is actually forbidden. Im not saying that this would remove all of manipulation but perhaps some.
Forgive my bad english if found on the message
I am no trader, but I think it would interfere with day trading by limiting the ability to react to market moves. Someone more experienced can give more insight than my limited knowledge for sure.