I'd guess that close to the highest bid its someone showing some support.
Another opportunity to educate: What does "creating a wall" mean? And what do you mean by "14+ BTC sitting at 74 satoshi"?
Here's the line on vircurex:
19,999,555.2856 0.00000074 14.7997
They want to buy 20 million DVC at 0.00000074 BTC each. He's calling it a "wall" because its huge compared to all the other orders, on a chart it would make a tall vertical line. Wall implies other things too, the speculation subforum has plenty of examples, but imho there's nothing like that going on with that bid, it just looks like a substantial offer at the market rate.
So who is creating the wall on vircurex DVC/BTC lately? Now 14+ BTC sitting at 74 satoshi. Is it a supporter, or someone trying to play?
Another opportunity to educate: What does "creating a wall" mean? And what do you mean by "14+ BTC sitting at 74 satoshi"?
Here's the line on vircurex:
19,999,555.2856 0.00000074 14.7997
They want to buy 20 million DVC at 0.00000074 BTC each. He's calling it a "wall" because its huge compared to all the other orders, on a chart it would make a tall vertical line. Wall implies other things too, the speculation subforum has plenty of examples, but imho there's nothing like that going on with that bid, it just looks like a substantial offer at the market rate.
This person seems like they already bought 11 or so btc and flashed 20 btc but removed it so they prob spending about 35 to 50 btc at this price. Seems like a noob because he doesnt know how dvc works. Any wall in the bid book will get eaten up slowly but to create a pump is what will drive others to buy. The wall will give incentive to selloff a big chunk to someone whonjust got the coins. A pump would have them add or hold thinking its rising. That person is either greedy or doesnt know how to manage hos position. I did the opposite i created a pump earlier and price rose for 35% subsequently. Noone has made a substantial pump after mine. Ive only seen the occasional attempts
at a few btc in the buy book that gets eaten up slowly as price jist sits there waiting for sellers.
If ur smart u would buy half above market and then place half in the book in increments.
