.0023 sell every 20 seconds on Coinbase

pokeronlinestatus

full member

Activity: 455

Merit: 102

Quote from: exodus911 on November 02, 2018, 06:27:54 AM

Every 20 seconds on coinbase, a sell for exactly .0023 Bitcoin occurs. This has been going on for weeks now. It's weird that no one else seems to notice this or talk about it. I had to join the forum today just to bring it up. Is there some reason this peculiar trade occurs like clockwork and doesn't get any mention anywhere?

It would seem since there is NO OTHER trade like this happening on the entire exchange that there would at least be SOME discussion on it.

It may be a trading bot selling but it could be also coinbase trying to make their volume higher looking so they can say they worth a lot to the shareholders. Now I really don't know what they can say when people realize they do not make the profits from it but it is still a possibility.

That is close to 10 bitcoins a day right there and I know it may not look too much but that is the only one we know of, maybe there are others in other pairs and all that and that means they can be tampering with their own volume a lot more than we know. It could be a trading bot trying to sell what someone mines as well, still a trading bot but not to make profits just trying to sell what the miner mined and there are plenty of people in the world who makes 10 bitcoin a day mining.

exodus911

newbie

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Well whoever set up that bot must also watch these boards. It has been going like clockwork for at least a month now. And then suddenly after this post got attention it stopped. Interesting.

franky1

legendary

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you will also see orders that are buying at X and then being put at a sell order ~$90-100 higher(1.3%)
or
you will also see orders that are selling at X and then being put at a buy order ~$90-100 lower(1.3%)

and just repeating as the price waves move
many traders dont throw everything at one order price and wait for 10%-100% spikes/dips. instead they take small % amounts and just repeat repeat repeat which nets them better overall % totals over time than waiting for bigger orders to hit bigger spikes

BitHodler

legendary

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Quote from: vit05 on November 02, 2018, 06:49:49 PM

You could film this trading. Take prints. It's obvious it's a bot. That is unquestionable. But the debate over why he chooses to sell that amount every twenty seconds is quite interesting. At least for me. And if it is something continuous, that occurs for so long, it is a whale trying to prevent the price from falling more. Maybe it's a miner that needs to sell steadily the coins he mines.I imagine there are several other bots with similar actions piling up too.

I doubt it's a miner. If you follow the order books of most exchanges, you'll see similar trading patterns indicating bot activity trying to gain small bits of coins continuously, and if you do that long enough, the reward is huge.

As franky1 also pointed out, large traders usually don't want to signal they have a significant position in the market, so they take it easy and work on a long term stream of small trades without affecting the market.

I'm sure that once the trader behind the bot(s) thinks the market is getting used to his trading activity, he'll change and work with other amounts. No way it will last a couple of more weeks like this.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

It's a bot, possible from a whale which is bumping. As said above, they cannot sell it all at once, as the price would drop. Every 20 seconds will not cause an impact on the price

vit05

hero member

Activity: 672

Merit: 526

You could film this trading. Take prints. It's obvious it's a bot. That is unquestionable. But the debate over why he chooses to sell that amount every twenty seconds is quite interesting. At least for me. And if it is something continuous, that occurs for so long, it is a whale trying to prevent the price from falling more. Maybe it's a miner that needs to sell steadily the coins he mines.
I imagine there are several other bots with similar actions piling up too.

Sifon

jr. member

Activity: 112

Merit: 2

The level of precision makes it easy to draw an inference that it's the work of bot being carried out by a smart trader who doesn't want to be detected at all. So he'll rather make the sell in trickles until target is achieved. Nothing new about this as it happens on other exchanges too.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: franky1 on November 02, 2018, 03:18:13 PM

its not strange at all.
its called day trading

if you want to sell say 0.69 an hour or 16.56btc a day. you dont simply throw a sell order in as a lump sum.
the lump sum ould create a 'wall' where other people see it and then refuse to buy into it as its a bigger lump then other orders.

so instead you calculate it down and sell in spoonfuls that way its not noticable and sales flow through without impacting the psychology of other traders.

smart traders that have $100k are not going to 'eggs in one basket' in one order sell it all. as that causes a market reaction

You are right which those traders will definitely have the option on gradual sell on small amounts rather than on going all in on a single transaction. He just choose up not to
make any market reaction that would lead into another false rumors of dumping and making any attention towards his own tx.This is still possible to be made by a person but basing on every 20 seconds precise time
order then we can say its a BOT and theres no surprising thing on this matter.

franky1

legendary

Activity: 4424

Merit: 4794

its not strange at all.
its called day trading

if you want to sell say 0.69 an hour or 16.56btc a day. you dont simply throw a sell order in as a lump sum.
the lump sum could create a 'wall' where other people see it and then refuse to buy into it as its a bigger lump then other orders.

so instead you calculate it down and sell in spoonfuls that way its not noticable and sales flow through without impacting the psychology of other traders.

smart traders that have $100k are not going to 'eggs in one basket' in one order sell it all. as that causes a market reaction

bill gator

legendary

Activity: 1386

Merit: 1123

Quote from: exodus911 on November 02, 2018, 06:46:48 AM

There is no other trading bot doing anything like this.

How can you be so sure? Do you have any evidence that brings you to this conclusion? If I were to guess there are probably many similar things happening that are simply going unnoticed. It's not uncommon for a bot to do something repetitive. Somebody might just be trying to drip their way into the BTC market without causing much fluctuation in the current price by filling tons of sell orders. It's unlikely that you've observed the market sufficiently enough to conclude that this is the only repeat buy.

tmfp

legendary

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"Common rogue from Russia with a bare ass."

Pretty much 10 BTC a day on the nose, one way to average I guess.

Bitcoinnation

copper member

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Quote from: exodus911 on November 02, 2018, 06:46:48 AM

There is no other trading bot doing anything like this. Every 20 seconds like clockwork no matter what the price is. Same amount.

That's exactly what a bot does... same amount every 20 seconds. Do you think any normal humanbeing would be perfect enough to execute such a trade every 20 seconds for along period of time? Nothing strange in this. Happens almost every time even in other exchanges

exodus911

newbie

Activity: 3

Merit: 0

There is no other trading bot doing anything like this. Every 20 seconds like clockwork no matter what the price is. Same amount.

eternalgloom

legendary

Activity: 1792

Merit: 1283

It's a trading bot, nothing special really, doesn't really warrant a discussion.
There, problem solved Tongue

exodus911

newbie

Activity: 3

Merit: 0

Every 20 seconds on coinbase, a sell for exactly .0023 Bitcoin occurs. This has been going on for weeks now. It's weird that no one else seems to notice this or talk about it. I had to join the forum today just to bring it up. Is there some reason this peculiar trade occurs like clockwork and doesn't get any mention anywhere?

It would seem since there is NO OTHER trade like this happening on the entire exchange that there would at least be SOME discussion on it.

Topic: .0023 sell every 20 seconds on Coinbase (Read 242 times)