okay kslaughter, don't be greedy, bitcoin's exchange rate has appreciated again, drop the bid wall again to reflect that
This has already been discussed, the ask wall will be removed entirely, soon.
great thanks, this wall is only on BTCT.co currently? It isn't on AMC-PT on Bitfunder, nor ActiveMining on Bitfunder
There is a small wall on BF ActiveMining at 0.0025
...and since 1 or 2 days there are some people who dont want the price going up to 0.0025 on BF it seems. The wall between 0.0021 and 0.0022 ist filled up every few hours again.
Spot on. If I were a rival company feeling threatened by upcoming competition from ActM, I'd want to slow down ActM's ability to raise capital by placing lots of sell orders below 0.0025. If you watch the behaviour closely, it's the obvious explanation. Most flippers keen to take an early profit on shares bought at 0.0005 - 0.001 have already done so, which leaves the manipulators as the only sellers. The news from ActM is better each day, so there isn't really a sensible reason to be selling at this point.
+1
No. Those ask walls are being lowered every time and people are buying into them, not selling because of them. Why would someone buy shares of a company that they wanted to fail in the first place. If you dont plant the weed in the first place you won't need to cut it down later.
Sure there are people buying into the Asks, because they see a good investment. The sellers are stopping the buyers from eating into Ken's 0.0025 wall, that is all they need be concerned with if their objective is to hobble ActM's ability to raise capital. It is quite easy to obtain shares off market if you have the BTC, and you will happily sell at a loss if your sole objective is to slow down a competitor.
The wall was originally at .0024 to .024999. It has come down to .002-.0022. This is good for us, Ken and new investors. Bad for sellers.
But isn't Ken selling at 0.0025? We want people to buy his shares so the money goes to ActM so we can get things moving. Yes, it is good for a new investor to be buying in at sub 0.0025, but in the medium to long term they would be better served to buy at 0.0025 so the NRE is covered asap.
On this one, you might want to approach whats happening again lewicki.
There is no rational trading reason why there has been so much size on the ask, when it quite obviously wants to rise. It peaked 2 days ago to 640K shares to .0025 (AM/Bitfunder) Currently its 273K, so its subsiding, helped by the fact that there are three markets the competitors have to cover.
Then again, Ken is entitled to put the orders where he sees fit also.
In any event, its going to get interesting.