Topic: BTC is being manipulated into stability. But why? - page 2. (Read 3144 times)

I miss those 

Imagine if you are a whale, you can set a rock solid sell wall at say 830, cause a rush, and have a rock solid buy wall to meet the panic at 820. do that all day and your stash grows, stability increases, and everyone wins but the scalpers.
I think that is a responsible thing to do if you own a lot of bitcoins, back your own currency.
of coarse, if it remains this stable for much longer, the money transfer system will become very profitable, and therefore attract more investors and then we start over again.

Oh no!  It's cuddlefish and his #bitcoin-cabal!

I think people would like to know about $4,000 or $40,000 liquidity moves

Withdrew 400$ from Bitstamp just yesterday, went smooth and took one day with a SEPA transfer.

The mysterious "manipulator" is back then. He/she must sure love bitcoin. This must be costing millions of dollars a day. 
As mentioned above, bitcoin has always had long periods of stability. You don't hear much about it because it's boring.

Apart from three periods of extreme volatility, totaling ~10 months in the past four years, bitcoin price has been amazingly stable, no matter what sensationalist heads from magazines want you to believe. I.e, for most of the time, it's like that, boring. It found its current level, and until fundamentals change, it will be around. No mystery, no tin foil, just an equilibrium where all sellers sold and all buyers bought, pressure normalized and normal exchanges are taking place.

It is a surprisingly high level, too, I was expecting it to settle at least around $650, but my guess is as good as anybody's, i.e. not good at all. What I'm saying, we never had a settled price so close to the ATH before. It was 10% in 2011, then 37% in 2013, now something like 70%. Maturing fast? If this range of 800-1100 holds for another month.

I'm thinking there's a cabal of benevolent bitcoin zillionnaires behind this. One of the criticisms of bitcoin has been its extreme volatility. This can intimidate individual buyers, and more importantly businesses. So what does the Satoshi Nakamoto troika do? It starts putting up buy AND sell walls to keep the price at this level for as long as possible. This builds up confidence, gets more adoption, and basically sets the snowball rolling...
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I think this is spot on. Bitcoin whales aren't wallstreet whales, from what I understand they haven't cashed out, despite being worth hundreds of millions, and the initial paper released by Satoshi reads to me more like a technical manifesto.

All this trading and speculation, although fun, really does hurt Bitcoin as a payment system. The number one objection (after the illicit market dropping out) by consumers and vendors is the volatility. I might be mistaken, but price right now is controlled by the exchanges. The exchanges are easily manipulated by smaller users and by natural market forces.  Not to mention there are so many posts suspecting the exchanges themselves being deceitful.

Until we have a few solid exchanges we have complete trust in, which have 50-100k coins on both sides where we can reliably withdraw our fiat. I think this is a great move and will only help Bitcoin.

Being a miner, I want to see stable growth in the market. And anyone who things that someone with 100k coins, when total buy/sell options total 15k on either side is lying to themselves lol...

Back in 2011 "the manipulator" threads were far better.

The only proof is that real people's buy and sell orders are being filled. You can't do that with imaginary bitcoins or dollars.

Of course I haven't actually withdrawn funds from stamp lately. Hmm...

are they??  where are their fillings?  weekly reports? are they regulated at all?  3rd party auditor sign off?

perhaps bitstamp and coinbase are just playing with a stacked hand (big pockets) and btc-e may or may not be fudging...  but gox and the china exchanges are probably suspect more than anything

check out the chart from Jan 9th and you see it narrow down to a mid point

Jan9th is when btc-e gave a big discount for whales on tx fees.   so they were able to shake all the loose money out and now just sitting with themselves.

perhaps when everyone has the same rates again Feb 1st things will move a bit more freely... or not..  I am in the camp that Coinbase is running things anyway and want stable price for their merchant/user fee churn

Lmao take a step back, manipulation don't matter. Whales try to manipulate market->Market conforms to manipulation ->Whales conform to market.

To put it in simple terms.

Market Psychology + Manipulation = Manipulated Psychology
Manipulated Psychology + Manipulation = Manipulated Psychology.

To solve for Market Psychology, set both equations equal to each other.
Market Psychology + Manipulation = Manipulation Psychology  + Manipulation.
- Manipulation                                                                    -  Manipulation
------------------------------------------------------------------------------
Market Psychology = Manipulation Psychology.


They are one in the same. Don't give me that troll shit. Regardless of how illogical it sounds, it makes complete sense and you know it. Welcome to life.

You keep the price high by building bid walls and buyin 50-100 Coins from your own asks to simulate a stable price with enough demand.

But how would this work? Say you were sitting on 100k BTC and wanted to cash out. You could soak up all bids as they came in, but what would you do with other incoming sells? If you undersell them, you drive the price down. If you try to keep the price high by buying back in, you dont get to cash out.

Right now it seems that the purpose of this is cashing out at a stable and held up price. It´s not only walls on both sides,
every time the bid side gets filled on Stamp, somebody dumps a few houndred coins.

Well, the bots are trading with real money. The only way they can keep the prices within a tight range are if they are backed by huge amounts of buffer money on both the buy and sell sides. The market will get out of the range when one of the two sides is exhausted. For example say the buffer is BTC 1M / USD 1B in size. If the natural demand for btc exceeds 1M, the whale will no longer be able to keep the price down.

There may be second order effects on market sentiment that I'm not able to figure out, but bottom line, I'm sure the players concerned are powerful but only up to a limit. They can't keep this up for too long...

That's not huge, but medium IMO. If a clear downtrend will become obvious, then we'll see huge cash-outs.
Bitcoin whales have to be sure of a large drop when they dump, so they can buy back much cheaper.

from china to wall street. that's what's going on deep in the fog.

Another huge cash out (500 BTC) that drove market from $808 to $804 within a 1 minute period.