These askwalls and bidwalls seem far too high considering there's such low volume.
I wonder if this is a kind of DOS against Bitcoin itself.
Someone with enough USD and BTC on the exchanges could create an artificial situation like this and pull the plug either way whenever they feel like it.
This. These walls are way too coordinated.
Who would be selling right now, when Bitcoin is so obviously getting geared up to go?
So what are you guys suggesting the purpose and thus end result would be? Speculating of course.
My reason
was the conference. And it still kind of is related to it. My guess now is that Big Money works in groups, Big Money has friends. And their friends now see Bitcoin in the same light the rest of us do(at least profit-wise) - but they're not quite ready. They need to get some internal infrastructure ready for the conversion to Bitcoin. Also they might be waiting on Bitcoin exchange infrastructure to accommodate their level of planned buying; can current exchanges handle multiple buys of millions of dollars?(I am asking, I don't know) So they get back to their Big Money friends like "Yes, we get it now. We just need a few days to get everything in order. Please just hold the price for a short time, to stop a panic buy among current holders(and other companies), so we can start the real buying at these prices when we're ready." This would more than pay for the money their friends spent holding the price, at these volumes its just too easy for them.
My guess would be is that they know a gold rush is inevitable, and that it will be a race. Not everyone knows they are going to end up having to run in this race, but the ones who do want to have a stable starting line as they're walking up, so they can make sure to get their affairs in order without any kind of panic.
As in, this stability is the "take your marks" portion of the race.
That is a pretty entertaining, yet a realistic (and perhaps more than reasonable) idea to consider.
I have sort of been leaning towards individuals trying to maintain the price a bit with these walls, giving the appearance of stability or just to control wild fluctuations. Didn't give it much thought but perhaps we all should. Was never really sure what it was but I was thinking more at the individual level and not involving complicity, or is that conspiracy?
Hey, where there is money (and perhaps a bit more involved here with all that
BTC is) there will be people working in cooperation, at some level. the question is just where does that level end, and start for that matter?
Wonder what chance there is that the walls sometimes come from exchanges, also for personal gain?
IAS
