Topic: btc123 in #bitcoin today: NYT journalist involved, $50M about to be spent??? (Read 8532 times)

No, he's long gone.

The chat was on the 18th of March. I'm not saying I believe it's true, but I did find it very interesting as I'm trying to learn how easy it is to manipulate the market. As the market grows, I'll take more comfort in the inability for people to easily jack with things.

Wasn't that chat also about two months ago?  It's so off the cuff I can't believe that it's legitly going to happen.  Besides even if he did dump $1M on the market, by my fuzzy math, if we're at a cap of $1B a year, then that's $2.7M a day moving around or with potential.  He'd probably spend enough to make a day or two of red candles at this point and we'd be back up.

Hmm... he called for $100 by the end of the month. Still has a few days and we got pretty close this morning at $95.

Still no NYT article (though just about every other news source has been covering BTC already).

Interesting theory. But Keiser's tweets, at least, are always nicely capitalized and punctuated... btc123's IRC chat appears to be stylistically different. Granted, it's a different medium, so the same person could use a different style, but still...

Sidenote: I know it's been postulated that with Satoshi's 575 posts on this board, it should be possible to use linguistic analysis techniques to identify him (assuming he has public writings under his real name, or even another pseudonym). Wonder if anyone's done that yet.

Prediction: btc123 will have trouble crashing the market by promissing to sell $1M USD worth of BTC.

I am claiming that his manipulation only served to speed up price-discovery in a market "stuck" at a psycological barrier of $50USD/BTC.

Second prediction: The daily average price on Mt.Gox will not rise above $100USD/BTC before April 30, 2013.

That prediction assumes that the events in Cyprus don't cause a collapse of the Banking sytem in the reast of Europe.

Someone, just do the exact opposite of what he did in a day or so and no one will know what to think and therefore both will be discredited and it won't matter again.

Call yourself btc1234 or whatever, post it back on here when your done, voila!

Markets saved.

Maybe he has come up in the world of BTC. Then again, maybe he has just come up in the world of BS.

And that's why this forum is awesome. I was curious if someone knew who this person was. How are you connecting user 42109 with btc123 or bitcoin_millionare?

Woah, just thought of something. Who's been in the media quite a bit lately calling themselves a "Bitcoin Millionaire"? Could btc123 be Max Keiser? If so, it would lend credit to his claim about having a connection at the NYT (along with some money to play around with). Regardless of how crazy his claims are, if they hold up, that means something. We've already come pretty close to $55 which is something claimed.

Interesting indeed.

https://bitcointalksearch.org/user/btc123-42109

relevant;

Apparently btc123 is a miner who 1 year ago didn't really know what a wallet is, to having 100K, being vested in a bitcoin venture company and has the inside track on people dropping 50 million.  He has really come up in the last year.  Good on him!

Sounds like pirate - isn't he back?

IDK but I hope the thought police arrest him for untruthiness!

520 pizza rolls btw, a veritable feast.

Are you saying someone on the internet would just make stuff up? Why would they do that?

Yeah, that's gotta be legit. 

reminds me of yahoo finance chat rooms circa 2000

BTC123 is perhaps the worst possible thing that could happen to the Bitcoin community.  Much of what BTC123 is saying is foolish.  While I agree with his forecast on price (at least to 100k), and the willingness of VS's to back payment/exchange oriented companies, BTC123 is completely wrong about regulation and manipulation.  In fact, anyone in this forum thinks that manipulation is ok provided it is applied to a commodity rather than a currency or a security, please do some light reading after you google Enron, and various other CFTC/US Attorney prosecutions.  This jurisdiction is not constrained by the asset but rather your citizenship (BTC123 I hope you are not American, but if you are I can refer you to excellent legal counsel - you will be needing it soon). 

As further evidence of BTC123's fool status, he is broadcasting a strategy that is hardly original.  It is the traders equivalent of bragging about getting your training wheels of your bicycle to a band of Hells Angels (as they rumble by).  Nor is a forecast of $1,000,000 particularly prescient.

It is a waste of my time to go on about this, but I hope the BTC community will realize that a rational evolution of this market with less volatility and more professional infrastructure is sorely need in order to gain popular acceptance (in case your blinded by the BTC light bit coin is far from popularly accepted.  In order for that to happen, we need to loudly object to the foolishness of the BTC123's of the world - even though it wont stop them from being a fool.

Yeah, even if the story is true (he really posted to reddit, there really is a NYT reporter) he's doing a mind job on that reporter more then on the bitcoin market.  The Monday bull run is extremely consistent.  It just can't be traded like the weekend dip used to be b/c it often does not come back down! 

Including the reference to May 2011 when he said "we'll be at $25.00 within a few months".

I don't believe his story.

The market reacted because it's Monday and it's been waiting to react as the bids piled up.

Yeah...I'm highly suspicious of this. Reminds me of pump (followed by dump) stories you hear in stock chat rooms. If major VC firms are going to get involved, do you really think they are just going to let price step politely to 100, 1000, etc.? No, they will try manipulate with sharp downswings to scare people out of their coin so they can accumulate as much as possible. An article in the NY times would be cool, but not one talking about how easy it is to manipulate the market.