hey people,
im a uno believer for quite a while now.
but i must say that im kinda troubled about the bot-trading on cryptsy (not sure about mintpal, because im not really trading there).
i believe most of the volume on cryptsy come from trading-bots and that makes it really hard to figure out if new ppl get interested in uno or just old folks that dont wanna leave a sinking (?) ship :/
The price is definitely being controlled by bots. After carefully watching for the past month, I have a theory. Someone is trying to buy every single UNO they can.
I'd bet a BTC it is Wolong. He takes the price up to inspire interest near the halving and then slowly brings it back down to cause doubt and fear. He's parked it around .006 for the last three days and puts large buy orders in the .005's. High enough for those who bought near the lows to take a gain, and high enough for us long term holders to consider selling to be done with it. Every volume spike above 10 on the graph is a real person making a market purchase/sale, or one who put their UNO in the bot's programmed range. I've been trying to follow the massive spikes as they happen and about 75% of them are sells.
I have no idea how many he is trying to accumulate, but if my theory is right, I believe he has 17-20k UNOs or more. Almost 10% of all the UNO in existence. He *will* move the price up at some point when he has enough, or maybe when he shakes all the weak hands out of the market. I can't imagine what his long term goal is - that seems like an absolutely massive amount of UNO to hold. I guess the more that is off the market, the less he has to buy as the price moves up, but he'll never be able to cash out that amount. Maybe he plans to sell it off exchange.
So, summary? Yea, I'm not happy that the market seems to be at the whim of one person, even if that person will eventually make us long term holders wealthy... but without a flood of money into UNO by others, there is nothing that can be done about it. I'm really impressed by that bot too. I'd love to see the code.
There is also this, which I hesitate to share, since such things can be easily faked. Take it with a grain of salt. To me, it rings true and describes the market activity we are currently witnessing.
http://pastebin.com/sADSWK7Z