Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29667.

xulescu

sr. member

Activity: 263

Merit: 250

Quote from: magicmexican on February 15, 2014, 08:01:06 AM

The only logical explanation is that someone knows that Gox dont have any coins and wont ever fix withdrawals, so goxcoin is essentially worth 0$

But look at the market. Everyone WANTS coins to go up but Willy won't let them. Assuming you were really cashing out because Gox has no coins, wouldn't you just, y'know, let the price rise from time to time to get more cash? I'm starting to believe Willy sells into (mostly) its own walls to give the impression of massive dump and keep the price suppressed for much profit (?).

The only other plausible explanation I can think of is Gox or some accomplice(s) shorting naked. But then again, wouldn't you let the price bounce back from time to time?

T.Stuart

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One Token to Move Anything Anywhere

Quote from: seldon on February 15, 2014, 08:05:45 AM

If it is gox and they are not on fractional reserve why not simply send your coins to any other exchange and make a premium by arbitraging your own exchange?

Anyways, feels good that stamp don't give a shit anymore

Maybe Gox failed Stamp's KYC requirements. Cheesy

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: seldon on February 15, 2014, 08:01:37 AM

Could be governmental action.. they tend to be stupid often enough

No doubt, but what if it was just some monster dark pool order that couldn't be filled and was forced onto the open exchange?

Simplest solutions are most often correct, but either way this weird price action demands an explanation.

dgarcia

full member

Activity: 140

Merit: 100

Quote from: magicmexican on February 15, 2014, 08:01:06 AM

The only logical explanation is that someone knows that Gox dont have any coins and wont ever fix withdrawals, so goxcoin is essentially worth 0$

Hard to say what it is. It could be some kind of a attack, insider information.

And wonder that Gox does not block it...

...selling okay, selling a lot okay...

...destroying market. no go.

hd060053

hero member

Activity: 601

Merit: 503

when this bot stops, we see an epic break out. very interesting to watch the graphs atm.

also interesting, that one whale with millions of $ on gox absorbs all the sells for a long time now.

seldon

sr. member

Activity: 353

Merit: 250

Quote from: billyjoeallen on February 15, 2014, 08:04:03 AM

Quote from: TERA on February 15, 2014, 07:41:06 AM

You know what I think is that Willy IS mtgox.

That would have to be quite a conspiracy. That would suggest Mark or somebody could do this without someone else in the company finding out or that the whole company is in on it.

But let's assume that's true. First they drove the price higher presumably to get more fiat and then are now driving it lower to get more coins, right?

Why not just operate as a fractional reserve? Some technical reason?

This will be an interesting story if we ever find out the truth.

If it is gox and they are not on fractional reserve why not simply send your coins to any other exchange and make a premium by arbitraging your own exchange?

Anyways, feels good that stamp don't give a shit anymore

billyjoeallen

legendary

Activity: 1106

Merit: 1007

Hide your women

Quote from: TERA on February 15, 2014, 07:41:06 AM

You know what I think is that Willy IS mtgox.

That would have to be quite a conspiracy. That would suggest Mark or somebody could do this without someone else in the company finding out or that the whole company is in on it.

But let's assume that's true. First they drove the price higher presumably to get more fiat and then are now driving it lower to get more coins, right?

Why not just operate as a fractional reserve? Some technical reason?

This will be an interesting story if we ever find out the truth.

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

seldon

sr. member

Activity: 353

Merit: 250

Could be governmental action.. they tend to be stupid often enough

magicmexican

hero member

Activity: 812

Merit: 1000

The only logical explanation is that someone knows that Gox dont have any coins and wont ever fix withdrawals, so goxcoin is essentially worth 0$

hd060053

hero member

Activity: 601

Merit: 503

i wonder when this bot runs out of btc Huh

he dumped more than 30k btc in the last 1-2 days.

creekbore

full member

Activity: 210

Merit: 100

Lazy, cynical and insolent since 1968

So Billy/Willy is a bot...was that so hard.

What a 'community' Roll Eyes

dgarcia

full member

Activity: 140

Merit: 100

Quote from: billyjoeallen on February 15, 2014, 07:37:58 AM

Quote from: T.Stuart on February 15, 2014, 07:25:48 AM

Waiting on Willy... Cool

Just how many tricks does a bot have up its sleeve?

So let's assume I had 100 million worth of imaginary Gox coins. I could drag the whole exchange and then the other exchanges in the direction I wanted.

or maybe some huge amounts of bitcoin are being laundered. or maybe a government is involved.

Really there are too many possibilities to even reasonably guess without more information.

And he's getting more and more aggressive. Now dumping ~200 BTC.

HairyMaclairy

legendary

Activity: 1442

Merit: 2282

Degenerate bull hatter & Bitcoin monotheist

Will Willy dream of electric sheep?

FTWbitcoinFTW

sr. member

Activity: 476

Merit: 250

Arbitrage will close the gap between god & stamp soon as withdrawals are allowed

:popcorn:

Not the all gap since is still more easy to move fiat out of stamp but could be the only way for many loser

T.Stuart

hero member

Activity: 644

Merit: 500

One Token to Move Anything Anywhere

Quote from: xulescu on February 15, 2014, 07:33:45 AM

I wonder if the market on Gox can ally against Willy and wait for its predictable dumps, set up walls, get the price up, then remove orders, let Willy sell into negative numbers and start all over again. Like working in shifts Cheesy

I do wonder how Willy sleeps at night.

Is it like this:

... Or like this:

??

TERA

hero member

Activity: 728

Merit: 500

Quote from: T.Stuart on February 15, 2014, 06:39:25 AM

Quote from: TERA on February 15, 2014, 06:36:32 AM

oh ok so this 200k btc of dumping is just "a bot". its "willy"... no. we are talking an order of magnitude of difference from willy, and that guy who made a 10k buy (rpietelia claims that was.him)

Do you not remember the 100s of k BTC regular buying sprees that seems to have kept Gox at least $100 higher than other exchanges? Willy. It looks like every single person on this forum and his dog noticed Willy the bull bot. What is happening now looks exactly the same but in reverse!

So you're saying this bot "Willy" is a 2%+ holder of all bitcoins. His net worth was $150 million, but he left all the coins on fort gox rather to trade with rather than in cold storage. Um, that sounds a little weird. You know what I think is that Willy IS mtgox.

ChrisML

sr. member

Activity: 308

Merit: 250

Okay, lets ride this bitch back to $450 where she belongs, kinda.

HairyMaclairy

legendary

Activity: 1442

Merit: 2282

Degenerate bull hatter & Bitcoin monotheist

This is highly appropriate at this time:

http://m.youtube.com/watch?v=K2ku1A5Ox8U

Davyd05

hero member

Activity: 574

Merit: 500

its 3 hrs till they start testing the withdrawal on the gox pdf release time line, which is when sunday begins japan time. I think that we see gox rally following the ability to withdrawal coming online as many will be testing it and trying to test how many bitcoins are really still on the exchange

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