No Mt.Gox....No Willy bot....No moon! - page 2.

ensurance982

hero member

Activity: 518

Merit: 500

Trust me!

Quote from: Dalmar on July 30, 2014, 07:01:18 AM

Quote from: peter378 on July 30, 2014, 06:28:55 AM

Maybe whoever was behind the bot will just move to another exchange, unless all their bitcoins and money is still trapped on MtGox.

You can't pull off what Willy did with your own money. Only exchange owners using fake USD and running a fractional reserve could do it.

Willy and his partner Markus were able to buy BTC without actually paying FIAT money for them. They were most likely run by Mt. Gox, it wasn't a hacker. If they really just bought and bought and bought, the 6% of volume they accounted for are enough to push the price up, I guess!

Dalmar

hero member

Activity: 1106

Merit: 500

Life is short, practice empathy in your life

Quote from: peter378 on July 30, 2014, 06:28:55 AM

Maybe whoever was behind the bot will just move to another exchange, unless all their bitcoins and money is still trapped on MtGox.

You can't pull off what Willy did with ones own money. Only exchange owners using fake USD and running a fractional reserve could do it.

peter378

member

Activity: 86

Merit: 10

Maybe whoever was behind the bot will just move to another exchange, unless all their bitcoins and money is still trapped on MtGox.

Whitehouse

sr. member

Activity: 448

Merit: 250

Quote from: ?? on ??

Your mistake is thinking Gox was such a big influence for Bitcoin.

Gox prospered because of Bitcoin, not the other way around.

If it wasn't Gox, it would have been some other exchange. As long as Bitcoin continues to function properly, people will use it because of it's properties. As long as people continue to use it, there will be a market. As long as there is a market, there will be speculators. And so on.

But it looked like the shady dealings over at gox did cause or at least contribute to the price spikes. That's not to say that bitcoin wont rise again in the future. I think it will but hopefully itll be a more slow and steady natural growth this time. Only time will tell.

DannyHamilton

legendary

Activity: 3472

Merit: 4801

Did a bot create the Rhodium Bubble of 2008?

Did a bot create the Uranium Bubble of 2007?

Did a bot create the U.S. Housing bubble of 2006?

Did a bot create the Dot Com bubble of the late 1990's?

Did a bot create the Japanese Bubble economy of the late 1980's?

Did a bot create the gold bubble of 1980?

Did a bot create the U.S. Stock Market bubble of the "Roaring 20's"?

Did a bot create the South Sea Bubble of 1720?

Did a bot create the Mississippi Bubble of 1719?

Bots are just a tool. Bots don't create bubbles. Greed, fear, exuberance, and loss of logical and tempered thinking causes bubbles. Bots were just a way to take advantage of that.

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

the 7-8 months cycle might not hold true without those bot, but on the bright side, btc price could grow more steadily with less crashing. Every time bubble happens, people remember it, and are scared of it. Steady growth is better for BTC.

cuddaloreappu

hero member

Activity: 756

Merit: 502

I am often getting this strange feeling that if the my.gox fake trading willy bot has caused all previous bubbles....

this time there is no my.gox hence nobody to switch on willy bot and hence the price of bitcoin to be stalled at current levels for eternity....

The dream to moon derailed, and a horizontal line pierces through the charts from now....

you wouldn't want this to be reality right? me too?

but what if?

Topic: No Mt.Gox....No Willy bot....No moon! - page 2. (Read 2867 times)