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Question: Do you think Willy and Markus (MtGox bots) were behind the last two BTC bubbles?
Yes, they were the primary reason for both April and December bubbles
Yes, they were the primary reason for the April bubble
Yes, they were the primary reason for the December bubble
Yes, but at this point it doesn't matter anymore, the bubbles brought new money and adoption to support the current price
No, they probably contributed but price would have gone up almost the same without them
No, the bots were just an API for high value clients (the buys were legit)
No, there's not enough evidence to support the claims and assumptions made in the Willy Report

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Author Topic: Do you think Willy and Markus (MtGox bots) were behind the last two BTC bubbles?  (Read 5908 times)
Wandererfromthenorth
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October 01, 2014, 05:29:47 PM
 #21

x Missing option:
The bots acted as a catalyst, increasing the bubble well beyound reasonable size. Likely BTC were bought with none existing fiat.

Personal conclusions (ymmv):
The $/BTC price would have never reached the "real" levels. Ranges of 200-300 $/BTC would have been more likely.
The resulting blow to the BTC ecosystem will have long reaching consequences (MTGox wasnt the first, but the biggest) resulting in lost invester confidence.
The resulting spike resulted in to much enthusiasm. This caused unreasonable expenses in directly attached "industries". Especially mining companies will go broke. The attached "stink of fail" will linger for a long time.

Personal opinion:
The bots were very bad for BTC, while the short term price increase looked nice the consquences are detrimental.
Very good points.
Negative consequences about mining companies going broke, very true.

 
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October 01, 2014, 06:31:55 PM
 #22

Whoever and whatever caused that bubble it did wonderful things for Bitcoin.

There would be no millions and millions of VC money, no Paypals and Overstocks without media coverage and public interest that bubble produced. All that is making Bitcoin infrastructure more robust and that can't do bad thing for Bitcoin.

Prices go up and down on all markets, bitcoin is nothing special in that. Just look EURO and GBP these days. It's a bear market and of course there's no confidence within investors. When that turns up, you'll see plenty of interest.

It's a market, nothing more. Some lost money, some made a killing, some, like me, failed to realize lot of fiat gains, but that's the game.

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BittBurger
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October 01, 2014, 08:30:51 PM
 #23

Anyone who says the BTC price would've hit 1200 without Willy Bot, isn't aware of the facts.

They are the reason the price went that high.   There was nothing "organic" about those price increases whatsoever. 

And now that they're gone, we have proof of that.

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derpinheimer
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October 01, 2014, 08:43:51 PM
 #24

Anyone who says the BTC price would've hit 1200 without Willy Bot, isn't aware of the facts.

They are the reason the price went that high.   There was nothing "organic" about those price increases whatsoever. 

And now that they're gone, we have proof of that.

-B-

My opinion, too.

Yes, they created interest in Bitcoin which did increase its real value, in effect. But, they've also left many bagholders and delusional hodlers who think bubbles are a natural,repeating phenomena.

This is why the price will always trace backwards, until a real market attracts big buyers. Will that ever happen? Maybe. But until then, up and down with an overall downwards slope.

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October 01, 2014, 08:45:55 PM
 #25

Bots were the Viagra (plumbing), but for an epic fuck you need fuel (testo) and excitement (dopamine) too....
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October 02, 2014, 12:37:47 AM
 #26

Gox bots were behind every BTC bubble.
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October 02, 2014, 01:35:54 AM
 #27

I don't think they were behind the bubble. Those are all part of the world's only non-regulated speculative market. The bubble was popped by Gox losing 450k bitcoins. Now people are spooked by unregulated exchanges. Volume will return when people have confidence in exchanges again.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
thejaytiesto
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October 02, 2014, 10:08:25 PM
 #28

Guys that 1200 price was a bubble dont you get it.. media hype + mt gox + silk road shutdown + senate anouncment .BITCOIN itself is NOT a bubble ..but and here is a BIG BUT thats not to say there will not be any price bubbles. And i am afraid that last November was one.. but at each bubble we get a hole new wave of adoption so we may have a another bubble 1600 which settles at a new low of 800 then again and again.. or we may from now on get a agonisingly slow price rise. Who knows.. but its not bad news trust me. FOR some reason people think from 1200 we should just keep rising no wayyyy we need much more adoption and with all these peice of shit altcoins camoflouging the real deal makes it even slower for adoption.

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October 03, 2014, 09:18:25 AM
 #29

Gox bots were behind every BTC bubble.

If not directly the indirectly in both ways there are in the game.
Who knows what will they do next.



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Asrael999
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October 03, 2014, 09:29:53 AM
 #30

Fun idea - no basis in fact -
The gox bots were run by asic manufacturers - driving the price to silly high levels to justify exhorbitant prices for mining equipment, they have now run off with the fiat and delivered the room heaters.
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