Topic: COINBASE - Selling control? Shady? (Read 447 times)
Cool. Thanks for the info...would you mind educating me on these scripts? Sound clever. thanks
Well, first of all, it's a 24-hour rolling limit. AIUI, this means that the buy window is open for however long it takes until the limit is hit again. Depending on demand, this could cause the starting/ending times of the limit to shift.
Several people (myself included) have resorted to using automatic "buy" scripts to try and force an order through the minute the limit lifts. This has probably caused the window of opportunity for a buy order to be very short-lived. Sorry, you do what you gotta do!
FWIW, I bought just fine on a downturn (order went through at ~$85 USD / BTC as it was on its way down to ~$50 USD / BTC), although it took ~600 attempts over the course of ~10 hours.
Maybe the limit lifts prematurely if there were recently enough sell orders to put BTC back in their coffers? That's totally unfounded speculation, though.
Several people (myself included) have resorted to using automatic "buy" scripts to try and force an order through the minute the limit lifts. This has probably caused the window of opportunity for a buy order to be very short-lived. Sorry, you do what you gotta do!
FWIW, I bought just fine on a downturn (order went through at ~$85 USD / BTC as it was on its way down to ~$50 USD / BTC), although it took ~600 attempts over the course of ~10 hours.Maybe the limit lifts prematurely if there were recently enough sell orders to put BTC back in their coffers? That's totally unfounded speculation, though.
So I've been monitoring BTC to USD exchange, and have been waiting for BTC to drop before I buy from Coinbase. Now the interesting thing I've noticed is that for a short time, when BTC drops in price, Coinbase is unable to allow me to buy BTC because "we have exceeded the maximum allowable buy limit.." In so many words they've sold their limit for a 24 hour period.
Now that is understandable, however I've noticed something very suspicious with this. When the price goes back up, I'm miraculously able to buy BTC despite the "limit" for the 24 hour period. And when it drops, they've exceeding their selling limit.
So this leads me to 2 conclusions. 1. They are manipulating their systems to NOT sell temporarily, when BTC price dips to prevent them from losing money. 2. 1000s of other people are doing exactly what I'm doing and buying all at the same time, thus causing them to exceed their selling limit. Now, that doesn't explain how I can somehow buy BTC when the price shoots up the moment the price goes up despite the 24 hour "restriction.
Any thought? Or someone experiencing the same issues? or Not?
Now that is understandable, however I've noticed something very suspicious with this. When the price goes back up, I'm miraculously able to buy BTC despite the "limit" for the 24 hour period. And when it drops, they've exceeding their selling limit.
So this leads me to 2 conclusions. 1. They are manipulating their systems to NOT sell temporarily, when BTC price dips to prevent them from losing money. 2. 1000s of other people are doing exactly what I'm doing and buying all at the same time, thus causing them to exceed their selling limit. Now, that doesn't explain how I can somehow buy BTC when the price shoots up the moment the price goes up despite the 24 hour "restriction.
Any thought? Or someone experiencing the same issues? or Not?
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