Topic: Willy was used to Launder Bitcoins, not drive price up. - page 2. (Read 2175 times)
Finally, somebody making sense of it all: https://bitcointalk.org/index.php?action=trust;u=255566
but is happening in this momment with exchange from china
we can see price have jumps in hours usa wakeup but is fake
there is no market for prie rising up
we can see price have jumps in hours usa wakeup but is fake
there is no market for prie rising up
I've monitored mainly english exchanges. So I cannot say there isn't bot activity with Chinese Exchanges..But from making a program to screenshot any autonamous activity(buying a # of Bitcoin every 5-10 minutes) on both BTC-E and Bitstamp, I can say that I have found no trading bot for those exchanges.
That again points to> The bot was used to Mix & Launder Stolen Bitcoins on MtGox only.
but is happening in this momment with exchange from china
we can see price have jumps in hours usa wakeup but is fake
there is no market for prie rising up
we can see price have jumps in hours usa wakeup but is fake
there is no market for prie rising up
Except that the database withdrawals and deposits have been matched to the blockchain:
http://www.reddit.com/r/mtgoxAddresses/comments/25gq8h/likely_mt_gox_transactions_identified/
So the coins are real.
Moreover, in regards to Markus, we know that MT Gox made about 300k btc in profits, we also know that MK sold about 220k btc, and we further know that MK currently hold on gox about 70k-80k btc.
So MK sold his btc - nothing wrong with that.
http://www.reddit.com/r/mtgoxAddresses/comments/25gq8h/likely_mt_gox_transactions_identified/
So the coins are real.
Moreover, in regards to Markus, we know that MT Gox made about 300k btc in profits, we also know that MK sold about 220k btc, and we further know that MK currently hold on gox about 70k-80k btc.
So MK sold his btc - nothing wrong with that.
Basically, either Mark Karpeles or one of his staff was a genius. I was also aware of this "trading bot" for quite some time after seeing it's activity on MtGox as well.
Someone(Don't know who for sure) was using a trading bot to launder Bitcoins. It wasn't an attempt to rally up the price or anything like that, but an attempt to Mix their stolen coins. It makes sense, think about it. No fiat was used, only Bitcoins were taken, and then later sold.
Also, the majority of the price rise Did not come from the trading bot, Willy. Rather, during that period in time(November), the trading bot's constant buying, rallied up people to also get in on the action, take note, that the trading bot was only used on MtGox(I've constantly monitored Bitstamp as well as BTC-E and have found no such trading mechanism), thus it made no sense that Willy was the reason for the price rise as All the exchanges had similar #'s of activity. It was those people(Chinese and newcomers) who majorly drove up the price setting up a bullrush, as they were giving large #'s of buy orders every few minutes, and the sellers didn't have enough Bitcoin to sell to every single user, thus driving up the price...
Overall/Fact Conclusion: Willy is not as it's said to be, it was rather a tool to launder stolen Bitcoins, and once people got wind of someone(Willy) buying up bitcoins, they joined in on the action, causing the Bullrush to $1200 that we saw Last November. The person behind Willy made it seem as though the bot was for the intent of driving the price up, it's a double edged sword. To onlookers, it looked like a Bot buying up BTC, however it was actually a Bot buying BTC to mix coins. You can figure out the rest for yourself
This Bullrush can indeed happen again without the trading bot/Willy.
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