Anybody know what is going on at Askcoin.net with JPC?
The only trading pair that is generating decent traffic on that new exchange is JPC, but the trading is very strange.
There are standing orders since a long time at Sell 15 Sat, Buy 10 Sat.
Then when I look at the trading that is going on, I see very many small trades, all between 1 and 12 mBTC and every one is
*in between* the existing standing offers, without these trades ever showing up on the Buy/Sell overview,
because every one of them is immediately fulfilled at 11, 12, 13 or 14 Sat.
It is as if a single computer is constantly generating Buy/Sell matched pairs, just to make trading traffic on this coin.
I saw someone stopping this strange behavior by placing a standing Sell offer adjacent to an existing Buy offer (14/15 Sat)
then the strange trading stopped for a while. Eventually the small Sell was bought (manually?) and the automated trading
started again. I saw this repeat at least 3 more times in 2 days.
What is going on here, anybody know?
The trading is in very small amounts, but over a day it adds up to around 1 BTC, but I tried and can never get a buy or sell from
that trading, it simply stops if there is an existing offer, only using the empty space between existing Buy and Sell price. Very weird.
never even heard of that place before.. anyone else besides this guy ? Tried it ?
and yeah sounds weird
It is a new exchange - we just had a coin listed there that we are promoting since a long time (ORB) so I was checking out that exchange.
I checked and I can't find any benefit for JPC *traders* to make many small trades, since it is not the traders that get the Jackpot, right?
So I wonder what the benefit to traders would be to generate all this "ghost" traffic. Askcoin does have a giveaway of 0.1 BTC for every 10,000th trade, but I think the trading fees would accumulate to a higher amount than that reward... I can't figure out why someone
wants to be trading random small amounts of JPC all day to himself...