Topic: [LTCD] LitecoinDark.com ★ Scrypt ★ Difficulty Shield ★ Multipool ★ Fast - page 228. (Read 368579 times)

Getting away from your hypothetical situation because in the current situation, it just isn't the case.

There is a buy bot on Cryptsy doing its thing. Disregard that one, it's just there.

There are two sell bots that are undercutting the lowest sell price. When a n00b or weak-hand prices under one of those bots, both bots auto-cancel their orders and then undercut the low-ball seller. The seller thinks he's up against some other impatient seller, cancels his order and resets it lower. The bots undercut again. Ad nauseum.

So, what ends up happening is one or two sellers fight the bots down until the price has fallen 10% or more within 2 minutes.

Malicious bots and stupid people that can't be called traders because it insults me as a trader. That's what's going on.

Best for as many of us as possible to collectively buy upward in price and take the bots/n00bz out of the equation. Don't sell anything for a while, to prevent them from getting back in and repeating the pattern. A few hours will pass and the market will normalize.

Just letting it happen and expecting it to wear itself out will actually make the problem worse for quite a while. Long enough that people will forget about this coin or any coin that falls victim to the process.


And to akamii,

Your logic is exactly ass backward. If you keep the coin and help work the price upward, you don't lose - you gain. If you sell, what's gone is gone.

sorry to hear that  bout the lost and selling out

I guess i sell my 125k Coins now, i cant see that it will go higher.. lost 500 Dollar so far. Its sad but i cant lose 500 more

On the other hand though if bots are being implemented to buys as much ltcd as possible then I know this coin has a great future just by the demand for it lol. And ask yourself how come the price is dropping and the buys are like 4 buys for every sell. If I seen the Sell orders out doing the buys with no buy orders yeah then its time to get out .

No. It's best to buy out the nickel sellers and get rid of them while educating the ones with bigger bags in how to make more profit on their own sells.

Leaving them to play their silly price-war game over $2 worth of coin is letting your own throat be cut by the n00bz.

Yeah its best to hold and once the people are done being raked over the coals and their ltcd falls out of their pockets and stolen then the price will rise . Once the greedy bot owners have had their fill. 

Bots are nothing new. There hasn't been much in the way of regulation in regard to bots, so far. But most bots are there to buy low and sell high without direct user intervention. Those bots are no-harm and no-foul type bots. They trade the same way a person would.

Then there's the occassional malicious bot here and there. The ones that drive a coin down to doom or feed a greedy buyer who doesn't mind manipulating the price down greatly and then buying super cheap.

There is a difference.

...
and after a few of us fought the price back up to the low 1000's, I step away to make a pot of coffee. I come back just a few minutes later and a couple of sellers have battled each other back down into the 900's. Some of you are hopelessly set on cutting your own throats, I swear
...

This is disgusting with these bots, BC as well has it. I just wonder if we all have bot program how exchanges would earn. I guess that many people have plan or thinking about the bots. If exchanges dont regulate this they will have problem. Just think.

Somebody is also mining directly to their Cryptsy wallet and has an autosell set. But instead of setting a higher value for their pool autopayout, they have it set to sell anything mined at the very instant it is actually mined. So there's been a bunch of small quantity sell orders scattered around muddying up the place.

If Big Vern implements a limit of 5 or 10 active orders in any single market, that would minimize that thing, too.

Also, if pool operators would make the minimum payout amount to be at least 200 LTCD, it would have the same general effect.

Not so much panic selling. There wasn't enough of it going on. More like somebody that wouldn't price their 43000 LTCD sell order (and a bunch of other people too) just 1 satoshi above a 0.4 LTCD bot because the seller just couldn't wait fast enough to get rid of that stash (mined, arb'd, or bought low last week and wanted to dump out).

Small note about LTCD chart from me:

http://cryptaphex.wordpress.com/2014/09/21/ltcd-double-bottom-8xx-support/

plz RT if you like it https://twitter.com/AphexTwin4ever/status/513726563167109120 ty

no but I was watching it last night and people were jumping past the sell bots price and selling lower then the bot lol . Panic selling thinking the price is going down so they can drive the price down lol .

Just wrote Big Vern at cryptsy that i would think its a good idea to get rid of those bots.
Lets see what happens next.

that was in their squash bots but I don't know how long that has been in place lol

As I said earlier. 2 separate bots. The 'buy' bot can't possibly drive a price down. The sell bot can and is set to do so. I've been trying to buy out the sell bot for the past 7 or 8 hours. I'm very well acquainted with it now.

Its just some ones greed that is hurting the price once they are done being greedy the price will rise naturally no problem just think of what It could of been by now lol . Funny how people in the crypto world say oh I hate banks they manipulate everything it all revolves around banks. Well look at what greedy people are doing any difference lol 

Took them long enough to realize and do something!! That should really help the good coins trying to get recognition.

Greatly rise. It's sell bots on Cryptsy. Is you greatly lower, you are doing more of what the bot is already set to do. The bot is configured for driving the price downward already.

Could be that Big Vern from cryptsy would like to kill those 2 bots as well. He dosent earn that much money out of the bots.