It's easier to manipulate btc than it is the stock market, for obvious reasons.
Relatively, it doesn't really take that much money to move the price either way.
Topic: Someone is trying to manipulate the market (Mt.Gox) and are successful... (Read 3960 times)
September 23, 2011, 06:23:12 AM
September 23, 2011, 03:44:08 AM
Every order "manipulates" the market.
September 23, 2011, 03:40:44 AM
weekend is coming, during the weekend, it will swing more, because daytime stock trader has nothing else better to do on weekend, so wait and see
September 23, 2011, 12:21:01 AM
Today was an awful day for speculators because the price just stagnated. I hope tommorow it will do its weekend drop.
haha, so a high/low diff of 8% is stagnation now, is it?
Welcome to Bitcoin, folks
Those are the very edge of wild swings. The price has been 5.50 the whole time with only a 1% difference (about 10 cents) in either way both times.
September 22, 2011, 08:50:24 PM
Today was an awful day for speculators because the price just stagnated. I hope tommorow it will do its weekend drop.
haha, so a high/low diff of 8% is stagnation now, is it?
Welcome to Bitcoin, folks
September 22, 2011, 08:45:09 PM
Today was an awful day for speculators because the price just stagnated. I hope tommorow it will do its weekend drop.
September 22, 2011, 08:05:47 PM
In case you haven't noticed, Bitcoin hasn't had more than three consecutive up days in the last 3 months. Buying on the third day at 6 was dumb. Buying at 6 on margin was dumber.
Certainly that won't be the pattern until the end of time. I'd say 95% of us expect a rally, perhaps even within the next week or two...
Edit: By the way, you all do realize there's now some guy sitting alone in his basement by his computer wearing a cape with a huge "M" on the back of it, right?
I just pictured it.
September 22, 2011, 07:07:54 PM
I completely with the comments about the overhyped "manipulator" and that it should be expected. I also agree that bad traders are largely to blame for market volatility (though I can't say I personally mind the volatility).
But, there is one scenario that could potentially screw the whole lot of us...the largest sell-off that we've never seen.
Edit: By the way, you all do realize there's now some guy sitting alone in his basement by his computer wearing a cape with a huge "M" on the back of it, right?
But, there is one scenario that could potentially screw the whole lot of us...the largest sell-off that we've never seen.
Edit: By the way, you all do realize there's now some guy sitting alone in his basement by his computer wearing a cape with a huge "M" on the back of it, right?
September 22, 2011, 02:12:10 PM
Heh, the ponzi scheme thing is very old...
I do not think it work anymore, after someone attacked the site... But it was one of the first sites to accept BTC (it accepted 1 BTC... I parcicipated on it when BTC was valued 0.7 thus not big deal or anything...)
But yes, I did something sorta dumb buying at margin at 6... :/ Or rather, not realizing my profits when I had the chance...
Fucking greed
I do not think it work anymore, after someone attacked the site... But it was one of the first sites to accept BTC (it accepted 1 BTC... I parcicipated on it when BTC was valued 0.7 thus not big deal or anything...)
But yes, I did something sorta dumb buying at margin at 6... :/ Or rather, not realizing my profits when I had the chance...
Fucking greed
September 22, 2011, 02:07:09 PM
Indeed, the manipulation is more dangerous than I thought... Specially now that we have bitcoinica...
I bought lots of BTC at 6, and then that 17k BTC wall appeared along with several massive dumps...
quickly BTC went to near 5, and I got a forced liquidation
What did you expect to happen if you bought on margin?I bought lots of BTC at 6, and then that 17k BTC wall appeared along with several massive dumps...
quickly BTC went to near 5, and I got a forced liquidation
In case you haven't noticed, Bitcoin hasn't had more than three consecutive up days in the last 3 months. Buying on the third day at 6 was dumb. Buying at 6 on margin was dumber.
Quote
Click on my ponzi scheme link please
Someone is trying to find others dumber than they are. September 22, 2011, 11:45:57 AM
thanks for the clarification
September 22, 2011, 11:21:00 AM
If MtGox is trading on its own exchange this is insider trading and should be stopped.
we should clarify this with the owner Mark kapeles.
we should clarify this with the owner Mark kapeles.
MagicalTux has already stated that mtgox doesn't trade at all because it would be unfair, or at least look that way. That may or may not be true, but I don't consider the whining of lousy traders or the insane speculation of conspiracy theory nuts to be evidence in either direction.
If someone does have actual evidence, I would love to see it, as would everyone else, I'm sure. That none has appeared seems to say a lot, even if it is neither conclusive nor final.
If Mark Kapeles said that publicly, then I believe him
It was in #mtgox on freenode IRC a while back. They collect fees in whatever currency is being purchased, so they end up with a lot of BTC. He said that they save it for purchases, like buying bitomat.pl, rather than trade it because of their position as insiders. I saw it, but don't have logs, so now you are trusting me (and my memory), plus him, but I'm sure he'd give the same answer if someone asked again.
September 22, 2011, 10:58:45 AM
If MtGox is trading on its own exchange this is insider trading and should be stopped.
we should clarify this with the owner Mark kapeles.
we should clarify this with the owner Mark kapeles.
MagicalTux has already stated that mtgox doesn't trade at all because it would be unfair, or at least look that way. That may or may not be true, but I don't consider the whining of lousy traders or the insane speculation of conspiracy theory nuts to be evidence in either direction.
If someone does have actual evidence, I would love to see it, as would everyone else, I'm sure. That none has appeared seems to say a lot, even if it is neither conclusive nor final.
If Mark Kapeles said that publicly, then I believe him
September 22, 2011, 10:38:22 AM
Oh well, as long as he pinky swears. 
September 22, 2011, 10:22:39 AM
If MtGox is trading on its own exchange this is insider trading and should be stopped.
we should clarify this with the owner Mark kapeles.
we should clarify this with the owner Mark kapeles.
MagicalTux has already stated that mtgox doesn't trade at all because it would be unfair, or at least look that way. That may or may not be true, but I don't consider the whining of lousy traders or the insane speculation of conspiracy theory nuts to be evidence in either direction.
If someone does have actual evidence, I would love to see it, as would everyone else, I'm sure. That none has appeared seems to say a lot, even if it is neither conclusive nor final.
September 22, 2011, 08:34:06 AM
I'm surprised people make such a big deal of this "the manipulator". Powerful traders are the inevitable consequence of trading in a small free market. For those that don't like this there are many large and highly regulated markets out there.
In the same way as competition encourages miners to use very efficient hardware, so to does this free market encourage traders to make smart choices. I find myself placing blame for high market volatility on bad traders rather than powerful ones. As more unprofitable traders are driven from the market, panic sells and unthinking rallies will become rarer and less extreme. I take solace in knowing that we are evolving towards stability.
TL;DR: If anything, I'm more annoyed with "the manipulated" than "the manipulator".
In the same way as competition encourages miners to use very efficient hardware, so to does this free market encourage traders to make smart choices. I find myself placing blame for high market volatility on bad traders rather than powerful ones. As more unprofitable traders are driven from the market, panic sells and unthinking rallies will become rarer and less extreme. I take solace in knowing that we are evolving towards stability.
TL;DR: If anything, I'm more annoyed with "the manipulated" than "the manipulator".
+1
Thank you for this.
If people are manipulated, it is because they are basing their buy/sell decisions on what others are doing, and not on their personal assessment of where bitcoin is going in the future.
Take ownership of your lives, people!
Thank you for this.
If people are manipulated, it is because they are basing their buy/sell decisions on what others are doing, and not on their personal assessment of where bitcoin is going in the future.
Take ownership of your lives, people!
Boom. Exactly.
September 22, 2011, 08:00:26 AM
I'm surprised people make such a big deal of this "the manipulator". Powerful traders are the inevitable consequence of trading in a small free market. For those that don't like this there are many large and highly regulated markets out there.
In the same way as competition encourages miners to use very efficient hardware, so to does this free market encourage traders to make smart choices. I find myself placing blame for high market volatility on bad traders rather than powerful ones. As more unprofitable traders are driven from the market, panic sells and unthinking rallies will become rarer and less extreme. I take solace in knowing that we are evolving towards stability.
TL;DR: If anything, I'm more annoyed with "the manipulated" than "the manipulator".
In the same way as competition encourages miners to use very efficient hardware, so to does this free market encourage traders to make smart choices. I find myself placing blame for high market volatility on bad traders rather than powerful ones. As more unprofitable traders are driven from the market, panic sells and unthinking rallies will become rarer and less extreme. I take solace in knowing that we are evolving towards stability.
TL;DR: If anything, I'm more annoyed with "the manipulated" than "the manipulator".
+1
Thank you for this.
If people are manipulated, it is because they are basing their buy/sell decisions on what others are doing, and not on their personal assessment of where bitcoin is going in the future.
Take ownership of your lives, people!
September 22, 2011, 07:55:52 AM
I'm surprised people make such a big deal of this "the manipulator". Powerful traders are the inevitable consequence of trading in a small free market. For those that don't like this there are many large and highly regulated markets out there.
In the same way as competition encourages miners to use very efficient hardware, so to does this free market encourage traders to make smart choices. I find myself placing blame for high market volatility on bad traders rather than powerful ones. As more unprofitable traders are driven from the market, panic sells and unthinking rallies will become rarer and less extreme. I take solace in knowing that we are evolving towards stability.
TL;DR: If anything, I'm more annoyed with "the manipulated" than "the manipulator".
this +1 In the same way as competition encourages miners to use very efficient hardware, so to does this free market encourage traders to make smart choices. I find myself placing blame for high market volatility on bad traders rather than powerful ones. As more unprofitable traders are driven from the market, panic sells and unthinking rallies will become rarer and less extreme. I take solace in knowing that we are evolving towards stability.
TL;DR: If anything, I'm more annoyed with "the manipulated" than "the manipulator".
September 22, 2011, 06:01:41 AM
I'm surprised people make such a big deal of this "the manipulator". Powerful traders are the inevitable consequence of trading in a small free market. For those that don't like this there are many large and highly regulated markets out there.
In the same way as competition encourages miners to use very efficient hardware, so to does this free market encourage traders to make smart choices. I find myself placing blame for high market volatility on bad traders rather than powerful ones. As more unprofitable traders are driven from the market, panic sells and unthinking rallies will become rarer and less extreme. I take solace in knowing that we are evolving towards stability.
TL;DR: If anything, I'm more annoyed with "the manipulated" than "the manipulator".
In the same way as competition encourages miners to use very efficient hardware, so to does this free market encourage traders to make smart choices. I find myself placing blame for high market volatility on bad traders rather than powerful ones. As more unprofitable traders are driven from the market, panic sells and unthinking rallies will become rarer and less extreme. I take solace in knowing that we are evolving towards stability.
TL;DR: If anything, I'm more annoyed with "the manipulated" than "the manipulator".
September 22, 2011, 03:33:13 AM
After all we've been through I wouldn't be surprised if that were the case. Just another drop of water in the already large "selfishness" pool.
Jump to: