Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32664. (Read 26709099 times)

Let's not rule out the possibility that some whale traders are complete morons. 

hmm... all I had was the bitcoinity 3 hour charts to compare the times.  But it doesn't feel right as an arb to me... the price difference is so good right now anyway that if you could arb it, you wouldn't be waiting around with an ask to be filled on gox.  You'd be running your money around the loop as fast as possible.

Just got back but it seems I missed more of the same.

Price starts to slip as asks fill in below 150 wall. Whale buys up to near foot of wall but doesn't put up bidwall.

Still waiting. 1k ask adds to fun.

Except that it wasn't simultaneous, it was more likely a response to the Gox trade.

Respect for your post, all the same.

The buy on bitstamp was a few minutes later.

It was just a follow up by some stupid trigger happy guy, like small fish swimming next to a whale to eat dirt of the skin of the whale

For sure it was not the same person, why would he not just buy on bitstamp entirely? Instead of paying a hefty 15% premium on MtGox. Indeed, open your eyes, the lies are laid in front you by liars like adamstgBit for their own selfish good. Generally, people don't like liars, but since alot of people here are liars, I'm expecting a clap clap and pat on the back to adamstgBit instead for his attempt.


Anyhow, the problem for guys now holding USD on MtGox -> how to get your USD out of a uninsured account in a far away country?

today is the 3rd tomorrow is the 4th, and it goes on and on

The simultaneous 1.8k BTC buy on bitstamp is not consistent with the get-out-of-Gox theory...

Epic jump of 13 points?

markets all around are strong, we are just about ready for the JUMP that most here won't believe because they are speculators, even the most bullish speculators will soon sell,  stash it away!

Or.......just some individual investors buying some bitcoins
Or.......just some individuals who would prefer to buy bitcoins rather than have fiat sitting with an exchange which might go bust at any moment

Who knows...

The simultaneous purchase of 1.6k on bitstamp makes me think that you are wrong...

lol...

your almost bankrupt !

shoulda held on, buddy...

They are just kicks initiated by MtGox themselves trying to spark the market alive so they can obtain fees which they can use to recoup their seized $5M. They are almost bankrupt

Kinda like using a defibrillator on a dead body

You'd do better to send it to Exante.  They are probably the best at getting trades performed in bitcoin with minimal market movement.

Whale MO:

Market can't take that and the risk is too high.  You'd start by cracking through a few ask walls (because you know your demand is going to push up the price so you might as well be the one that benefits) and then proceed by transferring a few million USD worth a week (descending as the market thins out) and buying on multiple exchanges simultaneously whenever reasonable ask walls start to build up.  You'd be willing to buy on exchanges that are 10-20% higher than others because you know your purchases alone will drive supply/demand curve enough so a 10% premium will be over taken in a week or 2, if that is where the liquidity is.

By transferring weekly, you never have too much value on the exchange and you eat the vertical portion of the ask curve, which gets you the most coins without driving the price much (you want to keep the price low for next week).  You'd buy BTC right away to minimize the time $ is on the exchange... so early in the week is likely.

If you have left over $ for the week -- that is, there weren't enough asks, you put up a wall maybe halfway back to entice big sellers to move BTC onto the exchange (its fine if they don't sell into your wall.  if its put up as an ask, you'll get it next week).  If you spent your weekly transfer, then no walls and no activity for a week -- to let the price drop down as far as it will go.  This is a better choice for a "whale" than putting up an ask wall b/c bitcoin is now officially $, the exchange knows who you are, and you have no interest in being prosecuted for market manipulation over maybe 5%.  And especially when it puts your hard-won BTC at risk of purchase by a surfacing whale.


Pump MO:

If you were "pumping", you are doing it differently; you want to maximize slippage. So you'd buy in much bigger gulps -- the further you push along the curve the further your dollar pushes up the BTC price.  Possibly even right after someone else's big buy (remember a bit of a loss in buys don't matter much -- if you are pumping you have a much bigger stash you are prepping to sell)  And you'd probably do it on one exchange only, relying on arb and trending bots to buy up the others.  Pumping like this would require a protective bid wall near your final price to psychologically cement in the new price.  You would never leave an ask wall half bought, there's no pump for your buck.  You'd put a bid wall up safely away from it and hope other eat into it while you transfer more $.  And when you did eat it, it would be the wall + the flat behind it...



hmm... which do you see last few weeks?

Sorry, I misinterpreted your meaning. Each recent substantial move has been one market buy, yes I agree. It's not likely that each substantial move over the past month has been caused by the same buyer though. I think it's likely that these are just separate individuals with a few $k to invest (especially at the moment, given the low market depth, since it only takes a few $k to move the price substantially i.e. by $6 or $7 as happened in the past hour).

I meant it more funny like, can you imagine your gox account saying 1 billion. :-)