Why are we talking about the past, let's talk about the things that will come.
Bitcoin will rise again to that value or even more, with or without help of rumoured bots.
Topic: what caused the rise to $1100 last year? (Read 4983 times)
I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.
That is the most viable explanation. What else can explain the giant spread, which was seen in Mt Gox? When BTC was trading at $1,100 in Mt Gox, it was trading for three digits in all the other exchanges (Bitstamp, BTC-E.etc). The demand came from Mt Gox only.
that can also indicate that demand was more east based.
i also think trading on mt.gox was strange, but general uptrend was worldwide and across all exchanges, so its possible that the rest of us were only lagging behind.
same thing now with stamp and huobi on one side, and btc-e on another
i don't really know a lot about bitcoin! but i believe that they rised it to 1100$ so that they get faster attention from people! don't u think everyone would go crazy about mining in bitcoin after they hear this? also it's quite free so..
I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.
That is the most viable explanation. What else can explain the giant spread, which was seen in Mt Gox? When BTC was trading at $1,100 in Mt Gox, it was trading for three digits in all the other exchanges (Bitstamp, BTC-E.etc). The demand came from Mt Gox only.
that can also indicate that demand was more east based.
i also think trading on mt.gox was strange, but general uptrend was worldwide and across all exchanges, so its possible that the rest of us were only lagging behind.
same thing now with stamp and huobi on one side, and btc-e on another
legendary
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I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.
That is the most viable explanation. What else can explain the giant spread, which was seen in Mt Gox? When BTC was trading at $1,100 in Mt Gox, it was trading for three digits in all the other exchanges (Bitstamp, BTC-E.etc). The demand came from Mt Gox only.
That market was a strange one at the time
Gox could be 400 to 500 dollars below BTC-E and every other exchange at the time
Perhaps it was the fact you couldn't move the coins out that forced the premium but to me this was classic speculation and bots trading back and forth on their ecosystem before it crashed.
I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.
That is the most viable explanation. What else can explain the giant spread, which was seen in Mt Gox? When BTC was trading at $1,100 in Mt Gox, it was trading for three digits in all the other exchanges (Bitstamp, BTC-E.etc). The demand came from Mt Gox only.
For me it was 100% CHINA.
so now we need to add India and Brazil and mix it well and will get to 10k
I heard Mt. Gox was manipulating the price upwards via bots. Don't know if this rumour is true.
Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.
Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.
If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.
Exactly. Now there isn't much spread between exchanges
Price of Btc-e is very similar to price of Bitstamp !The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange.
Also, I disagree with the comment regarding Willy bot not having some serious price manipulation effects on the price of bitcoin up to the $1200 bubble. Even near it's demise gox still had one helluva large percentage of all the exchange traffic despite the writing on the wall for sometime.
I think they were just slow with withdrawals, not stopping them completely
sr. member
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It's Money 2.0| It’s gold for nerds | It's Bitcoin
Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.
Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.
If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.
Exactly. Now there isn't much spread between exchanges
Price of Btc-e is very similar to price of Bitstamp !The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange.
Right, but time to have money was too much longer in Mt-Gox. I remember that the time for a payment in Mt-gox was 3-4 week !
There were a lot of people who were not willing to wait that long.
Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.
Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.
If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.
Exactly. Now there isn't much spread between exchanges
Price of Btc-e is very similar to price of Bitstamp !The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange.
Right, but time to have money was too much longer in Mt-Gox. I remember that the time for a payment in Mt-gox was 3-4 week !
Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.
Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.
If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.
Exactly. Now there isn't much spread between exchanges
Price of Btc-e is very similar to price of Bitstamp !The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange.
Also, I disagree with the comment regarding Willy bot not having some serious price manipulation effects on the price of bitcoin up to the $1200 bubble. Even near it's demise gox still had one helluva large percentage of all the exchange traffic despite the writing on the wall for sometime.
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.
Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.
If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.
Exactly. Now there isn't much spread between exchanges
Price of Btc-e is very similar to price of Bitstamp !The reason that gox had a premium late last year and early this year is that it took forever to receive fiat form them so people would repurchase the coins they sold, withdraw the coins and sell on another exchange.
Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.
Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.
If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.
Exactly. Now there isn't much spread between exchanges
Price of Btc-e is very similar to price of Bitstamp ! Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.
Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.
If the spread between exchanges is large enough then people would start to use arbitrage between exchanges, causing the price to rise on other exchanges.
Bullyish buying created an uptrend in general. It wasn't just those Willys.
Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
Look that two Bot can be much dangerous for the market, especially if you have many Bitcoin.
Bot can only manipulate short term price on one exchange, they can not manipulate long term price on exchanges all over the world.
Price of Bitcoin rises up from 700-800$ to 1132$ in only one week, and then, in 4-5 days, price dropped on 614$ !
So, Bot is very powerful if you have a lot of bitcoin quantities.
sr. member
Activity: 448
Merit: 250
It's Money 2.0| It’s gold for nerds | It's Bitcoin
Rise of 1100$ last year was caused by two BOT of Mt.Gox, know you?
People are overestimating the power of two bots.
The two bots contributed to massive volumes of BTC trading.
From what I can tell the bots were acting on behalf of large buyers that wanted to buy massive quantities of bitcoin without disrupting the markets.
Wasn't Mtgox market share already small at the time? Bitstamp, China, even btc-e was bigger than gox.
Even if mtgox trading was 100% bot, how could a small market have such an impact on bigger exchanges?
Even if mtgox trading was 100% bot, how could a small market have such an impact on bigger exchanges?
As many posters in this thread already pointed out. The author of the willy report is misleading his readers.
May be he truly believe what he wrote, and have no idea what he is talking.
Wasn't Mtgox market share already small at the time? Bitstamp, China, even btc-e was bigger than gox.
Even if mtgox trading was 100% bot, how could a small market have such an impact on bigger exchanges?
Even if mtgox trading was 100% bot, how could a small market have such an impact on bigger exchanges?
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