Clash of the Titans - page 2. | Bitcointalksearch.org

notme

legendary

Activity: 1904

Merit: 1002

Quote from: GeniuSxBoY on January 10, 2012, 03:03:39 AM

You're absolutely right. Bitcoinica is most definitely the culprit. This manipulation never occurred before its presence and the site creator must have foreseen his masterfully crafted con way ahead of schedule. He's not a dumb guy and if anyone could do something inappropriate in front of our faces, it would be him.

Yeah.... let's get the pitchforks!

Seriously guys, there are other possibilities here. There are lots of people who profit from volatility. We have to go through this phase before we can move on. We won't have the next wave up until we lose the exuberance-paranoia cycle.

bb113

hero member

Activity: 728

Merit: 500

Its like someone with a machete clearing a path

GeniuSxBoY

hero member

Activity: 616

Merit: 500

You're absolutely right. Bitcoinica is most definitely the culprit. This manipulation never occurred before its presence and the site creator must have foreseen his masterfully crafted con way ahead of schedule. He's not a dumb guy and if anyone could do something inappropriate in front of our faces, it would be him.

Bigpiggy01

hero member

Activity: 1138

Merit: 523

Quote

Something is up. I can smell it.

Just bitcoinica messing with the market so that A they don't have to execute limit orders close to market and B they're creating a spread to work. Think about how Zhoutong'd otherwise make any money in a more or less mono-directional market.

GeniuSxBoY

hero member

Activity: 616

Merit: 500

I can understand someone making a critical error to their own demise once.

but twice? fuck no.

three times? not in this lifetime.

Something is up. I can smell it.

Crypt_Current

hero member

Activity: 686

Merit: 500

Shame on everything; regret nothing.

Quote from: old_engineer on January 10, 2012, 01:44:21 AM

Quote from: ?? on ??

Quote from: old_engineer on January 10, 2012, 01:22:06 AM

I figure it's someone with USD and no BTC that accidentally left a sell order at $6.00, and as soon as they executed buy up to $6.70, the sell order was executed with the newly received coins.

god, wouldn't you just feel like a total douche?

Yep, I have, several times in fact. I think my biggest fuckup like this was a 300 btc buy, but thankfully the spread wasn't nearly so wide.

Ha and here I was all butthurt last night over accidentally selling nine coins at $7. I think I can get over it much easier now, thanks guys. :-)

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

the bitcoin scented candle

and smell like BULLSHIT!!

Cheesy

old_engineer

sr. member

Activity: 387

Merit: 250

Quote from: ?? on ??

Quote from: old_engineer on January 10, 2012, 01:22:06 AM

I figure it's someone with USD and no BTC that accidentally left a sell order at $6.00, and as soon as they executed buy up to $6.70, the sell order was executed with the newly received coins.

god, wouldn't you just feel like a total douche?

Yep, I have, several times in fact. I think my biggest fuckup like this was a 300 btc buy, but thankfully the spread wasn't nearly so wide.

happycamper

newbie

Activity: 30

Merit: 0

Quote from: phorensic on January 10, 2012, 01:24:03 AM

That is one hell of a candlestick. Does anybody have the technical name for it?

I don't know the technical name, but i think we should call it madnipulator

ArsenShnurkov

legendary

Activity: 1386

Merit: 1000

Quote from: ?? on ??

If it is one person what would their motive be?

1. To declare his presence and might
2. To show price corridor which he think should be
3. To count the robots on the market

UPD:
4. He bought chunck of bitcoins without moving the price

Bigpiggy01

hero member

Activity: 1138

Merit: 523

Nah this is just Zhoutong counter selling into price spikes so he won't have to execute any in place limit orders under his 4second or whatever delay rule.

It's also funny how this seems to really bork Gox's websocket amongst other things.

phorensic

hero member

Activity: 630

Merit: 500

Quote from: ?? on ??

So, who profits from volatility?

Good traders. It's like christmas for them. I'm stuck in a long position above $7 and I refuse to liquidate. If I wasn't stuck in a position I would have had an orgasm during that swing.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: ?? on ??

If it is one person what would their motive be?

Lets look at the result of their actions. Clearing out the asks and bids between 6 and 7 takes away the market depth between those numbers. This creates volatility for hours as people try to agree on a price again.

So, who profits from volatility?

If that was their goal, they seem to have failed. It's right back where it was, and both sides of the order book are filling back in.

phorensic

hero member

Activity: 630

Merit: 500

That is one hell of a candlestick. Does anybody have the technical name for it? You know, like those other 40 names for candlesticks like morning star and shit?

notme

legendary

Activity: 1904

Merit: 1002

Quote from: old_engineer on January 10, 2012, 01:22:06 AM

I figure it's someone with USD and no BTC that accidentally left a sell order at $6.00, and as soon as they executed buy up to $6.70, the sell order was executed with the newly received coins.

lol.... that seems fairly likely

Dan The Man

hero member

Activity: 672

Merit: 500

Someone checking to see if they can trigger some liquidation at Bitcoinica?

old_engineer

sr. member

Activity: 387

Merit: 250

I figure it's someone with USD and no BTC that accidentally left a sell order at $6.00, and as soon as they executed buy up to $6.70, the sell order was executed with the newly received coins.

rastapool

sr. member

Activity: 423

Merit: 250

Hawkix

hero member

Activity: 531

Merit: 505

This happened yesterday at about the same time of day, too.

Either:

a) the same person sells and buys
b) Zhoutongs algorithms gone maid
c) MtGox own trading against

legitnick

hero member

Activity: 532

Merit: 500

Quote from: ?? on ??

I don't care what it is, I just hope it keeps up

gotta love this volatility

this.

Topic: Clash of the Titans - page 2. (Read 3987 times)