Pirate Manipulation behind the recent price spike? - page 2.

Raize

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Quote from: OmegaNemesis28 on July 18, 2012, 04:36:49 AM

If true he was behind this, then why would the people invested in his service(s) trust him? If he is indeed running a ponzi, then why does he have so much accumulated BTC from people in the first place?

Because it was a BTC Ponzi? I mean, could be he's selling now so he can cash out and he really has no obligation to buy them back if it's a Ponzi and he's done with it now.

Sant001

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I watched it happen in real-time yesterday, and was going to post about it when the forum went off-line

OmegaNemesis28

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I'm kind of lost in the shuffle with all this. All I knew until a few hours ago was that yesterday (and the day before) I opened up my phone app to monitor prices and it was shooting up. Then it went back down, and now it seems to be stabilizing.

I come on here to find all of this. Not sure what to think.
Now I've been out of this for almost a year, I don't quite understand who Pirate is. I have seen him post lately and he clearly has some power/wealth in bitcoin judging by his business and the software available from him.

However, why hasn't he said anything since and where/what is he doing now? Did he accomplish what he set out to complete? What even was the goal - to start a rally?

If true he was behind this, then why would the people invested in his service(s) trust him? If he is indeed running a ponzi, then why does he have so much accumulated BTC from people in the first place?

adamstgBit

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you wana see a pirate get burnt

refuse to sell bellow 8.77

that is all

rebuilder

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Quote from: bitcoinBull on July 17, 2012, 09:06:46 PM

marlath explains:

Quote

The bid wall dropped and the dump started at exactly 2:06:18 EST.
He posted that 'good night' message at 2:06:28 EST. (http://pastebin.com/PthgrzDS)
He had a full ten seconds to paste that message.
This is how this pirate has conned everyone into thinking he is anything but BS. He has a websocket client that isn't lagged like the popular html5 ones are, and simply waits for the action on that to start and then announces that he caused it. Everyone using some browser based feed doesn't see the drop until after he saw it and announced it hoping people wouldn't notice that his announcement comes long after the actual move he claims credit for.

This is possible. It's difficult to tell exactly what preceded what from comparing the charts to the IRC log. (assuming the log times are correct, anyway). Where could one find reliable data on the market events, including orderbook movements?

adamstgBit

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Quote from: adamstgBit on July 17, 2012, 02:19:19 PM

Quote from: ?? on ??

Quote from: adamstgBit on July 17, 2012, 01:55:07 PM

exactly, IMO pirateat40 is stuck in an impossible situation

idk I'm most likely wrong, but what he did yesterday shows us his game plan and we see that its not a good plan

Can you clarify?

pirateat40 has taken a stand 9$ is the top, and hes got to convince everyone to fallow him back down bellow 7

even if he gets it going down (even below 6!), he will need to buy back. He'll be trying to buy back on the cheap along with everyone else, and who's going to sell us all these coins?

maybe hes been trying to keep the price down ever since 6 point crazy....

I hope he is able to push the price down, I would love to buy another few hundred coins below 6 ( I have a few friends that want in if it goes back down Tongue

)

The liquidity on the ask side simply isn't their for him to buy back on the cheep. i might get lucky and be able to grab a few hundred tho Grin

trying to push the price down , he is the liquidity on the ask side right now
once he gets it to < 7, and removes his asks walls their will not be enough bitcoin on the ask side to satisfy his needs
and everyone is going to jump allover them

don't you just love it when shit hits the fan? Roll Eyes

Vladimir

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Quote from: notme on July 18, 2012, 01:54:30 AM

I don't think pirate ever said high prices would hurt him, just large spikes at the wrong moment.

If pirate is running ponzi, why would anyone believe a single word he is saying? In that case, by definition, whatever he say must be considered as a potential lie.

Now, if he is not running ponzi, why the hell he needs to say anything at all?

Now get around that simple logic.

the joint

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Quote from: adamstgBit on July 18, 2012, 02:04:09 AM

Quote from: the joint on July 18, 2012, 01:57:13 AM

Quote from: adamstgBit on July 18, 2012, 01:46:47 AM

Quote from: the joint on July 18, 2012, 01:34:44 AM

Here's some psychology for you.

#1) People don't like to believe that some regular guy can just ask for a whole ton of BTC, receive them, and start manipulating an entire market.

Counter-point to #1) It is absolutely possible for this to happen, both mathematically and based upon market psychology.

#2) People don't like to believe that some regular guy can make at least 7% a week. After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2) It is absolutely possible for this to happen. I've made 2000% in about 8 months from trading alone. That 2000% doesn't include mining profits, product sales, or service sales. Nor was it a full time job. It was day trading. And it was only on two exchanges. And neither was Mt. Gox.

3) People don't like to believe that one guy manipulating the market is even possible.

Counter-point to #3) Yes, it really really is. Bitcoin is a small community and only a small % of all Bitcoin users are actively watching or trading on the markets at any given time. All you need is capital and balls and you can make the market your bitch.

4) People don't like to think Pirate can do this by himself.

Counter-point to #4) He's not. He's supported by his lenders and his buyers. He's found a niche between markets and there are many people involved. But, he is the central node of pass-through capital. As such, he can manipulate/control the market, but to believe he is doing it alone is a mistake. It's because so many people are involved that he can make 7% happen quite easily.

Seriously, why is it so hard to believe Pirate did this?

so why are people saying the higher it goes the more likely he will default?

is this simply not true?

The price going higher is only an issue if it goes up too fast and stays there after Pirate has already converted all of his BTC to USD.

His only hope at that point would be to try to create another rally with USD and do a pump and dump.

With the amount of capital that Pirate has, it would be difficult to imagine a scenario totally beyond his control that would screw over both him and his lenders.

If I had that much capital, I would do it. And, I'm seriously considering starting something similar. But, I need to decide whether or not I want to pull the trigger....

wait wouldn't he need to get the bitcoins b4 he dose a pump and drop?

so I'd say right now hes trying to push the price down in order to buy low and then do his pump and drop

if this is the case he is soo fucked ....

here is the scenario that totally would screw over both him and his lenders.

first he sells all his bitcoins at 6.9
someone pushes the price up to 8

ok hes all messed up now.... that wasn't so hard

When you pump you get BTC. When you dump at higher prices, you get USD. And repeat.

In your example, yes, he's messed up when the price pushes to 8 after he sold at 6.9.

So, instead he pumps the price to $9.50 (or $9.69) and sells to...oh, I don't know, $7.50?

adamstgBit

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Quote from: the joint on July 18, 2012, 01:57:13 AM

Quote from: adamstgBit on July 18, 2012, 01:46:47 AM

Quote from: the joint on July 18, 2012, 01:34:44 AM

Here's some psychology for you.

#1) People don't like to believe that some regular guy can just ask for a whole ton of BTC, receive them, and start manipulating an entire market.

Counter-point to #1) It is absolutely possible for this to happen, both mathematically and based upon market psychology.

#2) People don't like to believe that some regular guy can make at least 7% a week. After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2) It is absolutely possible for this to happen. I've made 2000% in about 8 months from trading alone. That 2000% doesn't include mining profits, product sales, or service sales. Nor was it a full time job. It was day trading. And it was only on two exchanges. And neither was Mt. Gox.

3) People don't like to believe that one guy manipulating the market is even possible.

Counter-point to #3) Yes, it really really is. Bitcoin is a small community and only a small % of all Bitcoin users are actively watching or trading on the markets at any given time. All you need is capital and balls and you can make the market your bitch.

4) People don't like to think Pirate can do this by himself.

Counter-point to #4) He's not. He's supported by his lenders and his buyers. He's found a niche between markets and there are many people involved. But, he is the central node of pass-through capital. As such, he can manipulate/control the market, but to believe he is doing it alone is a mistake. It's because so many people are involved that he can make 7% happen quite easily.

Seriously, why is it so hard to believe Pirate did this?

so why are people saying the higher it goes the more likely he will default?

is this simply not true?

The price going higher is only an issue if it goes up too fast and stays there after Pirate has already converted all of his BTC to USD.

His only hope at that point would be to try to create another rally with USD and do a pump and dump.

With the amount of capital that Pirate has, it would be difficult to imagine a scenario totally beyond his control that would screw over both him and his lenders.

If I had that much capital, I would do it. And, I'm seriously considering starting something similar. But, I need to decide whether or not I want to pull the trigger....

wait wouldn't he need to get the bitcoins b4 he dose a pump and drop?

so I'd say right now hes trying to push the price down in order to buy low and then do his pump and drop

if this is the case he is soo fucked ....

here is the scenario that totally would screw over both him and his lenders.

first he sells all his bitcoins at 6.9
someone pushes the price up to 8

ok hes all messed up now.... that wasn't so hard

the joint

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Quote from: adamstgBit on July 18, 2012, 01:46:47 AM

Quote from: the joint on July 18, 2012, 01:34:44 AM

Here's some psychology for you.

#1) People don't like to believe that some regular guy can just ask for a whole ton of BTC, receive them, and start manipulating an entire market.

Counter-point to #1) It is absolutely possible for this to happen, both mathematically and based upon market psychology.

#2) People don't like to believe that some regular guy can make at least 7% a week. After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2) It is absolutely possible for this to happen. I've made 2000% in about 8 months from trading alone. That 2000% doesn't include mining profits, product sales, or service sales. Nor was it a full time job. It was day trading. And it was only on two exchanges. And neither was Mt. Gox.

3) People don't like to believe that one guy manipulating the market is even possible.

Counter-point to #3) Yes, it really really is. Bitcoin is a small community and only a small % of all Bitcoin users are actively watching or trading on the markets at any given time. All you need is capital and balls and you can make the market your bitch.

4) People don't like to think Pirate can do this by himself.

Counter-point to #4) He's not. He's supported by his lenders and his buyers. He's found a niche between markets and there are many people involved. But, he is the central node of pass-through capital. As such, he can manipulate/control the market, but to believe he is doing it alone is a mistake. It's because so many people are involved that he can make 7% happen quite easily.

Seriously, why is it so hard to believe Pirate did this?

so why are people saying the higher it goes the more likely he will default?

is this simply not true?

The price going higher is only an issue if it goes up too fast and stays there after Pirate has already converted all of his BTC to USD.

His only hope at that point would be to try to create another rally with USD and do a pump and dump.

With the amount of capital that Pirate has, it would be difficult to imagine a scenario totally beyond his control that would screw over both him and his lenders.

If I had that much capital, I would do it. And, I'm seriously considering starting something similar. But, I need to decide whether or not I want to pull the trigger....

John (John K.)

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Away on an extended break

Quote from: notme on July 18, 2012, 01:54:30 AM

I don't think pirate ever said high prices would hurt him, just large spikes at the wrong moment.

Yep +1. The high prices would be a plus to him, as he's earning a percentage of the deposits (according to him).

notme

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I don't think pirate ever said high prices would hurt him, just large spikes at the wrong moment.

adamstgBit

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Quote from: the joint on July 18, 2012, 01:34:44 AM

Here's some psychology for you.

#1) People don't like to believe that some regular guy can just ask for a whole ton of BTC, receive them, and start manipulating an entire market.

Counter-point to #1) It is absolutely possible for this to happen, both mathematically and based upon market psychology.

#2) People don't like to believe that some regular guy can make at least 7% a week. After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2) It is absolutely possible for this to happen. I've made 2000% in about 8 months from trading alone. That 2000% doesn't include mining profits, product sales, or service sales. Nor was it a full time job. It was day trading. And it was only on two exchanges. And neither was Mt. Gox.

3) People don't like to believe that one guy manipulating the market is even possible.

Counter-point to #3) Yes, it really really is. Bitcoin is a small community and only a small % of all Bitcoin users are actively watching or trading on the markets at any given time. All you need is capital and balls and you can make the market your bitch.

4) People don't like to think Pirate can do this by himself.

Counter-point to #4) He's not. He's supported by his lenders and his buyers. He's found a niche between markets and there are many people involved. But, he is the central node of pass-through capital. As such, he can manipulate/control the market, but to believe he is doing it alone is a mistake. It's because so many people are involved that he can make 7% happen quite easily.

Seriously, why is it so hard to believe Pirate did this?

so why are people saying the higher it goes the more likely he will default?

is this simply not true?

the joint

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Quote from: smoothie on July 18, 2012, 01:41:10 AM

Quote from: the joint on July 18, 2012, 01:34:44 AM

Here's some psychology for you.

#1) People don't like to believe that some regular guy can just ask for a whole ton of BTC, receive them, and start manipulating an entire market.

Counter-point to #1) It is absolutely possible for this to happen, both mathematically and based upon market psychology.

#2) People don't like to believe that some regular guy can make at least 7% a week. After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2) It is absolutely possible for this to happen. I've made 2000% in about 8 months from trading alone. That 2000% doesn't include mining profits, product sales, or service sales. Nor was it a full time job. It was day trading. And it was only on two exchanges. And neither was Mt. Gox.

3) People don't like to believe that one guy manipulating the market is even possible.

Counter-point to #3) Yes, it really really is. Bitcoin is a small community and only a small % of all Bitcoin users are actively watching or trading on the markets at any given time. All you need is capital and balls and you can make the market your bitch.

4) People don't like to think Pirate can do this by himself.

Counter-point to #4) He's not. He's supported by his lenders and his buyers. He's found a niche between markets and there are many people involved. But, he is the central node of pass-through capital. As such, he can manipulate/control the market, but to believe he is doing it alone is a mistake. It's because so many people are involved that he can make 7% happen quite easily.

Seriously, why is it so hard to believe Pirate did this?

Why does it matter? The price is higher than 2 months ago... Grin

Haha, touche.

Part of me wants everyone's bitching to stop, another part of me just wants to be a hypocrite and right Cheesy

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: the joint on July 18, 2012, 01:34:44 AM

Here's some psychology for you.

#1) People don't like to believe that some regular guy can just ask for a whole ton of BTC, receive them, and start manipulating an entire market.

Counter-point to #1) It is absolutely possible for this to happen, both mathematically and based upon market psychology.

#2) People don't like to believe that some regular guy can make at least 7% a week. After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2) It is absolutely possible for this to happen. I've made 2000% in about 8 months from trading alone. That 2000% doesn't include mining profits, product sales, or service sales. Nor was it a full time job. It was day trading. And it was only on two exchanges. And neither was Mt. Gox.

3) People don't like to believe that one guy manipulating the market is even possible.

Counter-point to #3) Yes, it really really is. Bitcoin is a small community and only a small % of all Bitcoin users are actively watching or trading on the markets at any given time. All you need is capital and balls and you can make the market your bitch.

4) People don't like to think Pirate can do this by himself.

Counter-point to #4) He's not. He's supported by his lenders and his buyers. He's found a niche between markets and there are many people involved. But, he is the central node of pass-through capital. As such, he can manipulate/control the market, but to believe he is doing it alone is a mistake. It's because so many people are involved that he can make 7% happen quite easily.

Seriously, why is it so hard to believe Pirate did this?

Why does it matter? The price is higher than 2 months ago... Grin

the joint

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Here's some psychology for you.

#1) People don't like to believe that some regular guy can just ask for a whole ton of BTC, receive them, and start manipulating an entire market.

Counter-point to #1) It is absolutely possible for this to happen, both mathematically and based upon market psychology.

#2) People don't like to believe that some regular guy can make at least 7% a week. After all, most people here aren't making 7% per week, especially if you're not investing with Pirate or a pass-through.

Counter-point to #2) It is absolutely possible for this to happen. I've made 2000% in about 8 months from trading alone. That 2000% doesn't include mining profits, product sales, or service sales. Nor was it a full time job. It was day trading. And it was only on two exchanges. And neither was Mt. Gox.

3) People don't like to believe that one guy manipulating the market is even possible.

Counter-point to #3) Yes, it really really is. Bitcoin is a small community and only a small % of all Bitcoin users are actively watching or trading on the markets at any given time. All you need is capital and balls and you can make the market your bitch.

4) People don't like to think Pirate can do this by himself.

Counter-point to #4) He's not. He's supported by his lenders and his buyers. He's found a niche between markets and there are many people involved. But, he is the central node of pass-through capital. As such, he can manipulate/control the market, but to believe he is doing it alone is a mistake. It's because so many people are involved that he can make 7% happen quite easily.

Seriously, why is it so hard to believe Pirate did this?

FreeMoney

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Strength in numbers

Are you all sure it isn't just arrrbitrage?

ridgemont4

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Quote from: ErebusBat on July 17, 2012, 09:26:17 PM

Quote from: bitcoinBull on July 17, 2012, 09:06:46 PM

marlath explains:

Quote

The bid wall dropped and the dump started at exactly 2:06:18 EST.
He posted that 'good night' message at 2:06:28 EST. (http://pastebin.com/PthgrzDS)
He had a full ten seconds to paste that message.
This is how this pirate has conned everyone into thinking he is anything but BS. He has a websocket client that isn't lagged like the popular html5 ones are, and simply waits for the action on that to start and then announces that he caused it. Everyone using some browser based feed doesn't see the drop until after he saw it and announced it hoping people wouldn't notice that his announcement comes long after the actual move he claims credit for.

I don't actuall buy this... I was watching a live (web socket) stream of fox AND in IRC (seem my constant messages about ;ticker being lagged) and when pirate pasted the link to the nickelback song "burn it to the ground" is when the drop happened. The timing was far too perfect to be coincidence IMHO.

Some people don't possess common sense. Don't waste your time trying to reason with these idiots who were taught to believe and insist upon what they want to believe rather than arrive to a conclusion based on what is logical. Seriously, don't.

TraderTimm

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Only the biggest of idiots would keep a market supported if their plans needed a minimal premium to their offerings.

Oh look, BTC is trading at 9.00 - manipulation my ass.

Sorry, but this thread belongs in a penny stock pumper forum, not bitcoin.

Vladimir

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Quote from: rjk on July 17, 2012, 01:42:07 PM

Quote from: kiba on July 17, 2012, 01:03:00 PM

Unless we have cold hard evidence(TM) from mtgox, pirate is just making shit up.

Sounds like something he would do, too, just to fuck with everyone. Grin

Some people find it easy to fuck around with other people's money, apparently.

Topic: Pirate Manipulation behind the recent price spike? - page 2. (Read 7041 times)