Pirate Manipulation behind the recent price spike? - page 3.

ErebusBat

hero member

Activity: 560

Merit: 500

I am the one who knocks

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.

John (John K.)

legendary

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Away on an extended break

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.

Remember this guys:

Quote from: Herodes on July 17, 2012, 07:41:40 PM

Perhaps we should add this general rule to the bitcoin community safety guidelines:

If some guy jumps ups and down, waving his hands frenetically and claims he's THE ONE, don't give him your bitcoins!!

bitcoinBull

legendary

Activity: 826

Merit: 1001

rippleFanatic

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.

ridgemont4

member

Activity: 112

Merit: 10

Quote from: Herodes on July 17, 2012, 07:41:40 PM

Perhaps we should add this general rule to the bitcoin community safety guidelines:

If some guy jumps ups and down, waving his hands frenetically and claims he's THE ONE, don't give him your bitcoins!!

Wow that was gay.

Herodes

hero member

Activity: 868

Merit: 1000

Perhaps we should add this general rule to the bitcoin community safety guidelines:

If some guy jumps ups and down, waving his hands frenetically and claims he's THE ONE, don't give him your bitcoins!!

ydenys

member

Activity: 96

Merit: 10

Oh, yeah, it is almost $9 now again, mr piratepulator sells his (well, almost his) coins again using 30k walls – watch. Roll Eyes

ydenys

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Activity: 96

Merit: 10

Ponzi it is, but he does not come out (judging by his posts) as an idiot who puts straight bid walls to get instantly sold into.

Market is far more mature than it was a year ago and there are plenty of big enough players just waiting for someone’s stupid move. Bots are just a noise. It is not only gox and few other guys (mostly interested in dumping at highest price) anymore. There should be enough money on board to move 100k+ coins up and down instantly and current cautious trading reflects this fact.

On the other hand the pirate is trading against the market now and therefore his loss is imminent unless the market sentiment changes.

hazek

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Quote from: rebuilder on July 17, 2012, 03:06:16 PM

I'm just saying he did seem to have a big part in last night's swings.

What "seems" is irrelevant without any proof, that's my point. In fact my point is that given the circumstances it would have been counter productive to actually do what he said he did.

ridgemont4

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Merit: 10

Quote from: rebuilder on July 17, 2012, 02:13:29 PM

Kiba:
http://i45.tinypic.com/2ngzj47.png

Looks legit. I wonder how he did that?

and why did he say a rally is not good for Bitcoin? based on what? not sure if he gave reasoning in the log, it was too long; didn't read.

Whoever it was, obvious to me is that he holds a lot of Bitcoins and is intent on controlling the price. Was he responsible for taking down the forums too? If so, then it was an "influential" person in the anonymous Bitcoin world (if such exist). It's kind of sad if you ask me; Corruption is far worse for Bitcoin then a price spike. What a pussy for hiding in anonymity. This is exactly what I do not support Bitcoin.

rebuilder

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Quote from: hazek on July 17, 2012, 02:43:09 PM

On the other hand if I'm running a ponzi, I sure as heck would take advantage of volatility in the market and claim it's me moving it to perpetuate some myth about how it just might be possible for me to pay those outrageously high interest to my investors in order to lure even more people into my scheme. This on the other hand makes perfect sense.

I didn't think this thread was about whether or not he's running a ponzi. I'm not saying it isn't. I'm just saying he did seem to have a big part in last night's swings.

hazek

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Quote from: rebuilder on July 17, 2012, 02:13:29 PM

Kiba:
http://i45.tinypic.com/2ngzj47.png

And ? If it actually were him what did he just do? Ask yourself this? Put yourselves in his shoes!

So let's say I'm doing what pirate claims he's doing.. I received a bunch of BTC from investors, investors that I promised I'll pay back their BTC + interest in BTC, and now I move my BTC on gox and I sell them into the bid wall. Great I now lowered the price a bit, I hold USD but unfortunately the price just keeps going up.. and soon I'll have to buy back the BTC to pay my investors!

So you tell me, how am I going to do that for less than or equal to what I got for them when I sold them when the price just keeps going up? IT MAKES ZERO SENSE.

On the other hand if I'm running a ponzi, I sure as heck would take advantage of volatility in the market and claim it's me moving it to perpetuate some myth about how it just might be possible for me to pay those outrageously high interest to my investors in order to lure even more people into my scheme. This on the other hand makes perfect sense.

kiba

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Quote

quote author=rebuilder link=topic=93757.msg1036738#msg1036738 date=1342552409]
Kiba:
http://i45.tinypic.com/2ngzj47.png

I'll just update my probability of 30% confidence to 75% confidence that he is a manipulator.

EDIT: Change my mind back to 30% after reading a thread in the speculation forum.

rebuilder

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Kiba:
http://i45.tinypic.com/2ngzj47.png

kiba

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Meh. I still think he's just making shit up to just fuck with people.

* kiba don't speculate anyway. He just hold coins, thus he doesn't care about the bubble all that much.

kiba

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Quote from: elux on July 17, 2012, 01:53:13 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.

You're Entitled to Arguments, But Not (That Particular) Proof.

He could be making shit up, but that's not what he said on #btcst today.

I suppose he could also be lying to his lenders, but that would be obviously stupid, in the long run.

~~How is that proof?~~

Never mind, I'll just read the lesswrong posts. They're always interesting.

elux

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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.

You're Entitled to Arguments, But Not (That Particular) Proof.

He could be making shit up, but that's not what he said on #btcst today.

I suppose he could also be lying to his lenders, but that would be obviously stupid, in the long run.

rjk

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1ngldh

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

kiba

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

bpd

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I really doubt pirate was the one buying. I certainly believe that he's the one that did a massive sale and caused the dump though (with your coins). The end is approaching... I feel it.

Read these in the mindset of someone about to end a ponzi:

[2012-07-17 04:34:46] ErebusBat, this was kind of like a training simulation.
[2012-07-17 04:35:05] ErebusBat, it will all make sense soon enough.

[2012-07-17 06:04:13] can we expect more than 7% in our accounts next monday?
[2012-07-17 06:05:31] opticbit, as long as I hold your coins.. you'll be paid.

Well... does he hold your coins anymore? Or did he just sell them all?

It makes no sense to pre-announce a big sale unless you just don't care that much about the price and value the notoriety and ego value you get more than getting the absolute best price.

hazek

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You can read the comedy that is his "admission" here: http://pastebin.com/PthgrzDS

Topic: Pirate Manipulation behind the recent price spike? - page 3. (Read 7041 times)