Littleshop
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Activity: 1386
Merit: 1003
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July 17, 2012, 01:57:37 AM |
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What is this prediction based on?
Gut feeling. Many more to come. Invest now.  What is your gut telling you now?  |
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Whoever mines the block which ends up containing your transaction will get its fee.
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Realpra
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July 17, 2012, 07:15:56 AM |
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I'll take this as a yes:  Holy crap. All it takes is for the person bidding on the 25k btc at $8 to decide to buy now instead and we're in the $10s. Lol walls like that are super fake. It would be taken down if you actually sold into it for a while. |
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SkRRJyTC
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Activity: 1008
Merit: 1000
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July 17, 2012, 11:43:37 AM |
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I'll take this as a yes: Holy crap. All it takes is for the person bidding on the 25k btc at $8 to decide to buy now instead and we're in the $10s. Lol walls like that are super fake. It would be taken down if you actually sold into it for a while. WTF is a 'super fake wall'... Plenty of people have {BTC}40,000 and could have sold into him instantly... the owner or owners of that and every wall are risking money. |
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Realpra
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July 17, 2012, 01:03:31 PM |
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WTF is a 'super fake wall'...
Plenty of people have {BTC}40,000 and could have sold into him instantly... the owner or owners of that and every wall are risking money.
It's likely controlled by a bot that will remove it instantly if too many coins are sold. It is my understanding that most of the walls are like that. Someone MIGHT dump 40K in a sec, but I doubt that highly as that would cost a lot and crash the market while you are trying to sell your coins. Hence why they are disappearing/moving all the time and why I and many others do not rely on them for analysis. |
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proudhon
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Activity: 2198
Merit: 1311
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July 17, 2012, 01:11:03 PM |
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WTF is a 'super fake wall'...
Plenty of people have {BTC}40,000 and could have sold into him instantly... the owner or owners of that and every wall are risking money.
It's likely controlled by a bot that will remove it instantly if too many coins are sold. It is my understanding that most of the walls are like that. Someone MIGHT dump 40K in a sec, but I doubt that highly as that would cost a lot and crash the market while you are trying to sell your coins. Hence why they are disappearing/moving all the time and why I and many others do not rely on them for analysis. Yesterday pirate did dump 10s of thousands of coins. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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SkRRJyTC
Legendary
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Activity: 1008
Merit: 1000
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July 17, 2012, 01:13:18 PM |
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WTF is a 'super fake wall'...
Plenty of people have {BTC}40,000 and could have sold into him instantly... the owner or owners of that and every wall are risking money.
It's likely controlled by a bot that will remove it instantly if too many coins are sold. It is my understanding that most of the walls are like that. Someone MIGHT dump 40K in a sec, but I doubt that highly as that would cost a lot and crash the market while you are trying to sell your coins. Hence why they are disappearing/moving all the time and why I and many others do not rely on them for analysis. If the wall is standing and I execute a sell order on gox for 40k BTC... my sell order is going through before any bot can issue another command. The bot cannot jump place in line and pull the wall after I executed an order that would sell through it... So yeah if someone sold 5k BTC into the wall, the owner of the wall could try and pull it before much more of it gets sold into, but they cant stop the whole thing being instantly sold into. |
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N12
Donator
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Activity: 1610
Merit: 1010
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July 17, 2012, 01:17:30 PM |
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If the wall is standing and I execute a sell order on gox for 40k BTC... my sell order is going through before any bot can issue another command. The bot cannot jump place in line and pull the wall after I executed an order that would sell through it...
So yeah if someone sold 5k BTC into the wall, the owner of the wall could try and pull it before much more of it gets sold into, but they cant stop the whole thing being instantly sold into.
AFAIK orders can be cancelled while a trade is being executed at MtGox. So, the wall can be cancelled as soon as the price gets dangerously close even if it is just 1 single trade. I have never tried it myself, but I've asked MtGox's owner about it.  |
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SkRRJyTC
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Activity: 1008
Merit: 1000
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July 17, 2012, 01:21:02 PM |
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If the wall is standing and I execute a sell order on gox for 40k BTC... my sell order is going through before any bot can issue another command. The bot cannot jump place in line and pull the wall after I executed an order that would sell through it...
So yeah if someone sold 5k BTC into the wall, the owner of the wall could try and pull it before much more of it gets sold into, but they cant stop the whole thing being instantly sold into.
AFAIK orders can be cancelled while a trade is being executed at MtGox. So, the wall can be cancelled as soon as the price gets dangerously close even if it is just 1 single trade. I have never tried it myself, but I've asked MtGox's owner about it. This would assume their trade engine isnt fast enough to complete 'my' 40k BTC sell order instantly but it is fast enough to remove depth instantly... this seems wrong. Why isnt 'my' sell order, which was issued first and was large enough to sell into the entire wall, given priority in the 'trade actions queue'? |
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N12
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Activity: 1610
Merit: 1010
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July 17, 2012, 01:27:10 PM |
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I'm really not qualified to talk technicals (that stuff is over my head  ), but if you want the answers, just ask Mark/MagicalTux. I just asked him that maybe a few months ago and he confirmed it's possible to withdraw an order while a trade was being executed, and since that time, the order book has lost a lot of its meaning to me, and I assume it hasn't been changed since. |
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thezerg
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Activity: 1246
Merit: 1010
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July 17, 2012, 01:47:38 PM |
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I'd want clarification on this. He may have meant that if someone happens to withdraw at the exact moment someone else is buying the order will only be partially filled (but in itself this is weird because this should be an atomic operation). Or maybe he means that the order is publicly posted even though it can be filled right away, giving a trader a tiny time window to pull down a wall.
I doubt he means that a trader has the ability to be forewarned of impending trades and given the opportunity to confirm the trade or cancel his wall -- simply because that would have to be explicitly coded into the API.
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TizzyTazzy (OP)
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July 21, 2012, 01:23:46 AM |
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Some of you been asking me for another prediction, once I have enough information I will post another at the end of the month.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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July 21, 2012, 08:47:46 PM |
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Some of you been asking me for another prediction, once I have enough information I will post another at the end of the month.
Could you also make it a bit higher this time, plz? Thanks  hey what is this, I called 8 months ago so far the market has acted EXACTLY as i have predicted if anyone wants to know what happens next simply refer to the game planlol |
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Yuhfhrh
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July 21, 2012, 08:52:49 PM |
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Some of you been asking me for another prediction, once I have enough information I will post another at the end of the month.
Could you also make it a bit higher this time, plz? Thanks hey what is this, I called 8 months ago so far the market has acted EXACTLY as i have predicted if anyone wants to know what happens next simply refer to the game planlol Wanna bet against that game plan? lol |
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