Pirate Manipulation behind the recent price spike?

[OmegaNemesis28]

I'm kind of lost in the shuffle with all this. All I knew until a few hours ago was that yesterday (and the day before) I opened up my phone app to monitor prices and it was shooting up. Then it went back down, and now it seems to be stabilizing.

I come on here to find all of this. Not sure what to think.
Now I've been out of this for almost a year, I don't quite understand who Pirate is. I have seen him post lately and he clearly has some power/wealth in bitcoin judging by his business and the software available from him.

However, why hasn't he said anything since and where/what is he doing now? Did he accomplish what he set out to complete? What even was the goal - to start a rally?

If true he was behind this, then why would the people invested in his service(s) trust him? If he is indeed running a ponzi, then why does he have so much accumulated BTC from people in the first place?

[1714794629]

1714794629

[Sant001]

I watched it happen in real-time yesterday, and was going to post about it when the forum went off-line

[Raize]

If true he was behind this, then why would the people invested in his service(s) trust him? If he is indeed running a ponzi, then why does he have so much accumulated BTC from people in the first place?

Because it was a BTC Ponzi? I mean, could be he's selling now so he can cash out and he really has no obligation to buy them back if it's a Ponzi and he's done with it now.

[Herodes]

Pirate says he will go to Defcon, so perhaps he'll pull up his ultrabook in the middle of the street, release the yubikey from inside his eye patch and make a rally right there and then on the street for everyone to see!!*


Seeing is believing!!!!

[HorseRider]

Somehow we have to admit that "pirate40" was right. panic buyer at 9.5$ could have buy at lower price. I think small crashes in rally and patience can make very good friends for investors: buy the dips.

I usually place a bidding order 5% -10% lower than it is trading now, and seldom it cannot be full filled given 1 week time.

[ewibit]

#2)  People don't like to believe that some regular guy can make at least 7% a week.  After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2)  It is absolutely possible for this to happen.  I've made 2000% in about 8 months from trading alone.  That 2000% doesn't include mining profits, product sales, or service sales.  Nor was it a full time job.  It was day trading.  And it was only on two exchanges.  And neither was Mt. Gox.

Hi
I have tried a few times day trading, but with the fees @MtGox in the end I have had (if I won) the same (or lower) as before the trades -> meaning that the really profit has made MtGox
therefore:
is there any chart with comparing the fees from all of the exchanges anywhere?
TIA

[ErebusBat]

#2)  People don't like to believe that some regular guy can make at least 7% a week.  After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2)  It is absolutely possible for this to happen.  I've made 2000% in about 8 months from trading alone.  That 2000% doesn't include mining profits, product sales, or service sales.  Nor was it a full time job.  It was day trading.  And it was only on two exchanges.  And neither was Mt. Gox.

Hi
I have tried a few times day trading, but with the fees @MtGox in the end I have had (if I won) the same (or lower) as before the trades -> meaning that the really profit has made MtGox
therefore:
is there any chart with comparing the fees from all of the exchanges anywhere?
TIA

Check out http://bitcoin-analytics.com/

[CoinCidental]

Do you really think someone with this kind of money sells his bitcoins on the market?

Nobody will sell at below market value regardless of their  wealth status ,and where do you go to sell something at a higher price than what the market is willing to pay for it ?

[ErebusBat]

where do you go to sell something at a higher price than what the market is willing to pay for it ?

Where people who buy it don't want to be in public.

[CoinCidental]

where do you go to sell something at a higher price than what the market is willing to pay for it ?

Where people who buy it don't want to be in public.

Its easy to buy anything anonymously at market price  ,just have an agent make the buys on your behalf

I doubt theres  some billionaire/organisation   paying pirate  way over the odds to buy into bitcoin

he claims to be making around 10%+ per week so its easy for him to pay  up to 7% and still make  a killing ......

Very interesting .......

[ewibit]

Check out http://bitcoin-analytics.com/

thx
I have looked at the side and it's difficult to understand all for me (perhaps because I'm no native english speaker) and I ask me what do I have much more then on http://btccharts.com/ or http://bitcoincharts.com/ where I see most of the exchanges too?
(especially if I pay for the service...)
TIA

[ErebusBat]

where do you go to sell something at a higher price than what the market is willing to pay for it ?

Where people who buy it don't want to be in public.

Its easy to buy anything anonymously at market price  ,just have an agent make the buys on your behalf

I doubt theres  some billionaire/organisation   paying pirate  way over the odds to buy into bitcoin

he claims to be making around 10%+ per week so its easy for him to pay  up to 7% and still make  a killing ......

Very interesting .......

You assume that selling the coin is the only service pirate provides.

[benjamindees]

So, basically, the theory is that pirate is a large dark pool.  He knows the real price, and can manipulate the exchanges using this info.  And this all came about because MtGox is a dick about identification, and Bitcoinica started going down the regulatory path as well.  I guess it's feasible.  Though, I wonder how (and how long) it works in practice.

[ewibit]

And it was only on two exchanges.  And neither was Mt. Gox.

which one do you prefere?
because it seems I have had bad luck with the smaller ones as you can see here:
https://bitcointalk.org/index.php?topic=94649.msg1073755#msg1073755
(has my money and my BTC's)
therefore I am looking for any trustable...
TIA

[Ente]

Even if it was Pirate back then at 17.07., it seems like it did cost him a fair amount of BTC, and his intervention held jts a mere two weeks.. He dropped it from 9.5 down to 7.5, and it went up to 9.5 again after 15 days, up to 11.1 after 17 days..

I dunno.. Nah, Pirate probably is quick, clever and opportunistic. But probably not causing 25% swings after all.

Ente

[DOH!]

As long as the pirate can keep ratcheting up the price, I'm all for it! On the other hand, I wouldn't give him a Satoshi.

[Ente]

As long as the pirate can keep ratcheting up the price, I'm all for it! On the other hand, I wouldn't give him a Satoshi.

He claimed to have tanked the price, though.. And warned to buy in too expensive and all.

Ente

[DOH!]

As long as the pirate can keep ratcheting up the price, I'm all for it! On the other hand, I wouldn't give him a Satoshi.

He claimed to have tanked the price, though.. And warned to buy in too expensive and all.

Ente

Hmm, maybe he tanked it, but it was opposite day? I'm pretty sure I see 11+ right now??
-Confused.

[CoinCidental]

someone is buying at 8.00GBP  or 12.60 USD on intersango

 

is it a pump and dump though ?

[Vladimir]

someone is buying at 8.00GBP  or 12.60 USD on intersango

 

is it a pump and dump though ?

It is more likely pump and run.