Wall Observer - MtGoxUSD wall movement tracker - page 406.

Zomdifros

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Activity: 210

Merit: 100

Quote from: Piper67 on March 26, 2013, 07:16:21 AM

Quote from: samson on March 26, 2013, 07:12:21 AM

Quote from: klee on March 26, 2013, 07:05:31 AM

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

I'm really not sure, it's strange behaviour.

I wonder if someone's doing this to prevent the price from rising too high too quickly and to try and keep the growth at a sustainable rate.

As a money-making strategy this makes very little sense, so I tend to agree it's someone trying desperately to cool down things. Whether to Bitcoin's benefit or detriment is unclear, though.

It also makes little sense to dump on a weekend or first thing on a Monday, yet that's also happened.

Oh well, someone loses BTC, someone else makes BTC... so the wheel spins round and round Cheesy

Perhaps it's just an early adopter with more than 100k BTC at hand, there ought to be a couple of those guys around. Someone wants to buy a boat, I guess.

samson

legendary

Activity: 2097

Merit: 1070

Quote from: Piper67 on March 26, 2013, 07:16:21 AM

Quote from: samson on March 26, 2013, 07:12:21 AM

Quote from: klee on March 26, 2013, 07:05:31 AM

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

I'm really not sure, it's strange behaviour.

I wonder if someone's doing this to prevent the price from rising too high too quickly and to try and keep the growth at a sustainable rate.

As a money-making strategy this makes very little sense, so I tend to agree it's someone trying desperately to cool down things. Whether to Bitcoin's benefit or detriment is unclear, though.

It also makes little sense to dump on a weekend or first thing on a Monday, yet that's also happened.

Oh well, someone loses BTC, someone else makes BTC... so the wheel spins round and round Cheesy

I'm thinking of one of the large exchanges trying to lure in the big investors and attempting to control the volatility.

Someone like MtGox or Coinlab would benefit over the next few months by seeing high growth week on week but not massively unsustainable growth.

klee

legendary

Activity: 1498

Merit: 1000

Quote from: Piper67 on March 26, 2013, 07:16:21 AM

Quote from: samson on March 26, 2013, 07:12:21 AM

Quote from: klee on March 26, 2013, 07:05:31 AM

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

I'm really not sure, it's strange behaviour.

I wonder if someone's doing this to prevent the price from rising too high too quickly and to try and keep the growth at a sustainable rate.

As a money-making strategy this makes very little sense, so I tend to agree it's someone trying desperately to cool down things. Whether to Bitcoin's benefit or detriment is unclear, though.

It also makes little sense to dump on a weekend or first thing on a Monday, yet that's also happened.

Oh well, someone loses BTC, someone else makes BTC... so the wheel spins round and round Cheesy

How can people buy/sell so large amounts? This is not smart...all these vertical ups & downs make little sense for the serious trader.

BitPirate

full member

Activity: 238

Merit: 100

RMBTB.com: The secure BTC:CNY exchange. 0% fee!

All-time high!

Regarding the 20k wall, if they are trying to improve the market, I'm not sure of its efficacy. Do institutional investors really want to see rampant manipulation?

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: samson on March 26, 2013, 07:12:21 AM

Quote from: klee on March 26, 2013, 07:05:31 AM

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

I'm really not sure, it's strange behaviour.

I wonder if someone's doing this to prevent the price from rising too high too quickly and to try and keep the growth at a sustainable rate.

As a money-making strategy this makes very little sense, so I tend to agree it's someone trying desperately to cool down things. Whether to Bitcoin's benefit or detriment is unclear, though.

It also makes little sense to dump on a weekend or first thing on a Monday, yet that's also happened.

Oh well, someone loses BTC, someone else makes BTC... so the wheel spins round and round Cheesy

samson

legendary

Activity: 2097

Merit: 1070

Quote from: klee on March 26, 2013, 07:05:31 AM

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

I'm really not sure, it's strange behaviour.

I wonder if someone's doing this to prevent the price from rising too high too quickly and to try and keep the growth at a sustainable rate.

klee

legendary

Activity: 1498

Merit: 1000

Quote from: Zomdifros on March 26, 2013, 07:07:45 AM

Quote from: surya on March 26, 2013, 06:32:45 AM

So if I deposit BTC from MTGox to Bitcoin 24 and withdraw there in Euro, transfering by wiretransfer the cash back to my Bank / MTGOX i can practically make extra cash, especially when selling out my BTC?

Currently at Bitcoin24 EURO 64.33, thats $ 82.73, means about $ 4 profit / 1 BTC.

For my 500 BTC it makes a difference in profit of $ 2000 !!! Is that real?

EDITED

Quote from: samson on March 26, 2013, 06:33:30 AM

So what happens when the price keeps rising and you've done a few trades like this and now all your money is in Euro on Bitcoin24 and you've ran out of BTC on MtGox ?

Then you need to start sending wires right ?

If you just wait a bit they will catch up in value anyway, unless there's some kind of reverse trend, correction or crash.

You shouldn't have to transfer fiat from Bitcoin24 to MtGox for the trade itself, you should do this with some extra fiat you'd otherwise wouldn't invest in Bitcoin. Selling at Bitcoin24 and buying at MtGox should be done within a few seconds, to minimize the risk the price moves within your trade. When the trade is done, you could send some or all of your excess fiat from Bitcoin24 to MtGox when you expect another situation where Bitcoin24 trades at a premium.

The risk is that if you're inexperienced, it's easy to make some stupid mistake which could cost you lots of money. For that reason I prefer a buy and hold strategy.

Same strategy for the same reason...

klee

legendary

Activity: 1498

Merit: 1000

78$

Told ya!

Zomdifros

full member

Activity: 210

Merit: 100

Quote from: surya on March 26, 2013, 06:32:45 AM

So if I deposit BTC from MTGox to Bitcoin 24 and withdraw there in Euro, transfering by wiretransfer the cash back to my Bank / MTGOX i can practically make extra cash, especially when selling out my BTC?

Currently at Bitcoin24 EURO 64.33, thats $ 82.73, means about $ 4 profit / 1 BTC.

For my 500 BTC it makes a difference in profit of $ 2000 !!! Is that real?

EDITED

Quote from: samson on March 26, 2013, 06:33:30 AM

So what happens when the price keeps rising and you've done a few trades like this and now all your money is in Euro on Bitcoin24 and you've ran out of BTC on MtGox ?

Then you need to start sending wires right ?

If you just wait a bit they will catch up in value anyway, unless there's some kind of reverse trend, correction or crash.

You shouldn't have to transfer fiat from Bitcoin24 to MtGox for the trade itself, you should do this with some extra fiat you'd otherwise wouldn't invest in Bitcoin. Selling at Bitcoin24 and buying at MtGox should be done within a few seconds, to minimize the risk the price moves within your trade. When the trade is done, you could send some or all of your excess fiat from Bitcoin24 to MtGox when you expect another situation where Bitcoin24 trades at a premium.

The risk is that if you're inexperienced, it's easy to make some stupid mistake which could cost you lots of money. For that reason I prefer a buy and hold strategy.

klee

legendary

Activity: 1498

Merit: 1000

10K wall again - everytime i see this a rally occurs!

Probably the guy who wants to buy huge amounts tries to prevent others from buying! What do you think?

phatsphere

hero member

Activity: 763

Merit: 500

Quote from: WikileaksDude on March 26, 2013, 06:42:56 AM

Quote from: Zomdifros on March 26, 2013, 06:29:23 AM

Quote from: lebing on March 26, 2013, 06:08:55 AM

Looks like 30 bucks well spent.

who in their right mind do this... LOL

this was a glitch, got the info that it has been fixed.

samson

legendary

Activity: 2097

Merit: 1070

Quote from: WikileaksDude on March 26, 2013, 06:42:56 AM

who in their right mind do this... LOL

I guess this is the exchange equivalent of posting 'first' in the comments section.

thoughtfan

hero member

Activity: 784

Merit: 506

Quote from: Zomdifros on March 26, 2013, 06:27:08 AM

Quote from: molecular on March 26, 2013, 06:09:33 AM

Quote from: BitPirate on March 26, 2013, 06:06:59 AM

Quote from: Pteppic on March 26, 2013, 05:57:06 AM

Quote from: Zomdifros on March 26, 2013, 05:29:25 AM

Have you guys noticed the EUR price at Bitcoin24? It's at 64 right now compared to 60 at MtGox and has been to 69.6 which translates to $89. One could easily make a handsome profit by doing some arbitrage.

How long does it take to withdraw Euros from Bitcoin24 then get the deposit to clear at MtGox? What can happen to the Bitcoin price in that time?

For short-term arbitrage, you just need to keep funding the accounts with BTC and $ then flip. You don't have to move the $ around at short notice.

Problem is: those EUR markets have been higher than mtgoxEUR for weeks now.

When you want to capitalize on this, you should act very fast, not moving euros around. You could for instance send 420 BTC to Bitcoin24 and sell for 63+, gaining EUR 26460. Then simultaneously buy 420 BTC for 61 EUR at MtGox with fiat you have in your account there. You just made 840 euros. A couple of these trades each week and you could give up your job.

I guess the reason many are not doing this is is because it requires keeping fiat on MtGox and is it worth keeping it really worth keeping a chunk in fiat watching the price sail away for the occasional opportunity to arb?

WikileaksDude

hero member

Activity: 490

Merit: 500

Quote from: Zomdifros on March 26, 2013, 06:29:23 AM

Quote from: lebing on March 26, 2013, 06:08:55 AM

Looks like 30 bucks well spent.

who in their right mind do this... LOL

DanielBTC

hero member

Activity: 788

Merit: 1001

$80 USD???

YOU SHALL NOT PASS!!!

01BTC10

vip

Activity: 756

Merit: 503

$77.777

This is a good presage. Cheesy

samson

legendary

Activity: 2097

Merit: 1070

Quote from: Zomdifros on March 26, 2013, 06:27:08 AM

When you want to capitalize on this, you should act very fast, not moving euros around. You could for instance send 420 BTC to Bitcoin24 and sell for 63+, gaining EUR 26460. Then simultaneously buy 420 BTC for 61 EUR at MtGox with fiat you have in your account there. You just made 840 euros. A couple of these trades each week and you could give up your job.

So what happens when the price keeps rising and you've done a few trades like this and now all your money is in Euro on Bitcoin24 and you've ran out of BTC on MtGox ?

Then you need to start sending wires right ?

If you just wait a bit they will catch up in value anyway, unless there's some kind of reverse trend, correction or crash.

surya

newbie

Activity: 28

Merit: 0

Quote from: molecular on March 26, 2013, 06:09:33 AM

Quote from: BitPirate on March 26, 2013, 06:06:59 AM

Quote from: Pteppic on March 26, 2013, 05:57:06 AM

Quote from: Zomdifros on March 26, 2013, 05:29:25 AM

Have you guys noticed the EUR price at Bitcoin24? It's at 64 right now compared to 60 at MtGox and has been to 69.6 which translates to $89. One could easily make a handsome profit by doing some arbitrage.

How long does it take to withdraw Euros from Bitcoin24 then get the deposit to clear at MtGox? What can happen to the Bitcoin price in that time?

For short-term arbitrage, you just need to keep funding the accounts with BTC and $ then flip. You don't have to move the $ around at short notice.

Problem is: those EUR markets have been higher than mtgoxEUR for weeks now.

So if I deposit BTC from MTGox to Bitcoin 24 and withdraw there in Euro, transfering by wiretransfer the cash back to my Bank / MTGOX i can practically make extra cash, especially when selling out my BTC?

Currently at Bitcoin24 EURO 64.33, thats $ 82.73, means about $ 4 profit / 1 BTC.

For my 500 BTC it makes a difference in profit of $ 2000 !!! Is that real?

EDITED

Liquid

hero member

Activity: 826

Merit: 500

Crypto Somnium

oakpacific

hero member

Activity: 784

Merit: 1000

Quote from: lebing on March 26, 2013, 06:22:33 AM

Quote from: molecular on March 26, 2013, 06:09:33 AM

Quote from: BitPirate on March 26, 2013, 06:06:59 AM

Quote from: Pteppic on March 26, 2013, 05:57:06 AM

Quote from: Zomdifros on March 26, 2013, 05:29:25 AM

Have you guys noticed the EUR price at Bitcoin24? It's at 64 right now compared to 60 at MtGox and has been to 69.6 which translates to $89. One could easily make a handsome profit by doing some arbitrage.

How long does it take to withdraw Euros from Bitcoin24 then get the deposit to clear at MtGox? What can happen to the Bitcoin price in that time?

For short-term arbitrage, you just need to keep funding the accounts with BTC and $ then flip. You don't have to move the $ around at short notice.

Problem is: those EUR markets have been higher than mtgoxEUR for weeks now.

Yeah I have a theory actually that mtgox's authentication time lags are the reason for this price swap between them and the other exchanges. If thats true, not only is it pushing more people into other exchanges (good for decentralization/ resiliency), its also insanely bullish.

The problem is can other exchanges properly secure their users' money? Arbitrage is only profitable when there is large money flow, i.e., big traders feel confident enough.

So, rpietila, feeling profitable today?

Topic: Wall Observer - MtGoxUSD wall movement tracker - page 406. (Read 1811599 times)