Evil traders, explain manipulation to me...

[realnowhereman]

I'm confused.  Can someone more familiar with market trading explain current observed behaviour to me?

When Bitcoinica was in full swing, I understood the ask walls.  You go 1000 BTC short at 10:1; then you put a 10000 BTC ask wall up on Mt.Gox.  You rely on that wall to drive the price down, then collect your Bitcoinica short profit.

There is now no Bitcoinica.  What does the owner of the 10000 BTC ask wall want to achieve?  If you own a lot of bitcoins, don't you want the price to go up?

I'm not complaining about the walls, the people posting them are as free to trade as anyone else is; I'm simply confused as to what they are trying to achieve.  Perhaps I am simply not thinking evil enough... could someone who is more evil than I out there tell me what I'm missing?

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[waspoza]

Hes just selling. No manipulation imo.

[Bigpiggy01]

OP do you mean this guy:


Possibly Pirate on a night out

Hes just selling. No manipulation imo.

Could still be some leftover BFL BTC

[Spekulatius]

Simplest manipulation of them all:

1. Mr. m4NiPul4t0R! (lets call him Manni) puts up the ASK wall --> prices go down
2. People sell their cheap bitcoin into his BID wall some cents further down
3.
4. Profit

[kneim]

I think there can be manipulation. The big walls manipulate psychology of others for their own profit.

In the last minutes there showed up the bid wall of 50000 BTC at USD at 6.20, the last price is 6.50 at this time. This, I think, is sort of a manipulation. You should not think that he really wants to buy. It's like Spekulatius presented.

[ElectricMucus]

I think it's just white-knighting, alas someone is trying to force market volatility down.

Simplest manipulation of them all:

1. Mr. m4NiPul4t0R! (lets call him Manni) puts up the ASK wall --> prices go down
2. People sell their cheap bitcoin into his BID wall some cents further down
3.
4. Profit

But he's sharing more than half of the profits with mtgox.

But those are so close together I don't even think it is worth it (haven't done the numbers though). May be 2 genuinely different people but who knows.

[Piper67]

I think it's just white-knighting, alas someone is trying to force market volatility down.

Simplest manipulation of them all:

1. Mr. m4NiPul4t0R! (lets call him Manni) puts up the ASK wall --> prices go down
2. People sell their cheap bitcoin into his BID wall some cents further down
3.
4. Profit

But he's sharing more than half of the profits with mtgox.

But those are so close together I don't even think it is worth it (haven't done the numbers though). May be 2 genuinely different people but who knows.

Unless the manipulator IS MtGox... 

[bulanula]

I think it's just white-knighting, alas someone is trying to force market volatility down.

Simplest manipulation of them all:

1. Mr. m4NiPul4t0R! (lets call him Manni) puts up the ASK wall --> prices go down
2. People sell their cheap bitcoin into his BID wall some cents further down
3.
4. Profit

But he's sharing more than half of the profits with mtgox.

But those are so close together I don't even think it is worth it (haven't done the numbers though). May be 2 genuinely different people but who knows.

Unless the manipulator IS MtGox... 

Exactly. Insider trading on these exchanges is so damn frequent I am amazed.

Today somebody on BTC-E exchange put up a 11 million LTC buy wall at made of 45K BTC.

Just imagine that. 45K BTC on a russian exchange that is not worth that much anyway.

"support" was there all along while the sheep were fleeced and the manipulator played around.

Maybe false accusation but for me it was 100% insider trading.

[SkRRJyTC]

More $$$ than you != manipulation