MickeyT2008



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Sr. MemberActivity: 350Merit: 250This account was recently hacked Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore June 14, 2013, 07:00:24 AM #16192 From the way this keeps happening I can't help wondering if it's a deliberate attempt to damage confidence in BTC rather than a way to make money or simple incompetence. Now, who would both be able to afford to do this and benefit from it? Maybe I'm just being paranoid but I can't help suspecting the US government or their banks - neither of whom are famous for playing fair or even obeying the law. They could cause trouble like this with their spare change.



I don't think a tin foil hat is necessary to consider them capable of malicious behaviour, they have a long history of it.

tHash



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Sr. MemberActivity: 260Merit: 250 Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore June 14, 2013, 07:11:10 AM #16194 Quote from: BitPirate on June 14, 2013, 05:20:47 AM Quote from: adamstgBit on June 14, 2013, 05:18:42 AM Quote from: MickeyT2008 on June 14, 2013, 05:15:41 AM These dumps always seems to happen at around 5am UK time, I wonder where whoever keeps doing this is based.



its 1AM on the east coast.



someone is purposely trying to bring down price when people are not watching?

its 1AM on the east coast.someone is purposely trying to bring down price when people are not watching?

The sell-offs don't seem as frenzied as last week -- I'm not sure this is a manipulator per se. Perhaps "medium sized fish" getting in before the anticipated weekend sell-offs.

The sell-offs don't seem as frenzied as last week -- I'm not sure this is a manipulator per se. Perhaps "medium sized fish" getting in before the anticipated weekend sell-offs.

I imagine with each sell-off, there are more and more coins not re-bought as people become more and more bearish. This would naturally reduce the number of coins held by day traders, limiting future sell-offs somewhat. Of course there are miners, and long term holders, the latter of which probably are not going to sell without some major bad news. The miners have always been there, and in the current market, I would bet they are unloading in a more controlled way than just dumping, to avoid slippage.



I would agree with your medium sized fish theory, the big fish sold and bought back in, and he would not make any money selling again now, unless there are several big fish . . . I imagine with each sell-off, there are more and more coins not re-bought as people become more and more bearish. This would naturally reduce the number of coins held by day traders, limiting future sell-offs somewhat. Of course there are miners, and long term holders, the latter of which probably are not going to sell without some major bad news. The miners have always been there, and in the current market, I would bet they are unloading in a more controlled way than just dumping, to avoid slippage.I would agree with your medium sized fish theory, the big fish sold and bought back in, and he would not make any money selling again now, unless there are several big fish . . .

KS



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Sr. MemberActivity: 448Merit: 250 Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore June 14, 2013, 07:13:10 AM #16196 Quote from: MickeyT2008 on June 14, 2013, 07:00:24 AM From the way this keeps happening I can't help wondering if it's a deliberate attempt to damage confidence in BTC rather than a way to make money or simple incompetence. Now, who would both be able to afford to do this and benefit from it? Maybe I'm just being paranoid but I can't help suspecting the US government or their banks - neither of whom are famous for playing fair or even obeying the law. They could cause trouble like this with their spare change.



I don't think a tin foil hat is necessary to consider them capable of malicious behaviour, they have a long history of it.



or it's a way to soften up the meat before you *really* bite into it... or it's a way to soften up the meat before you *really* bite into it...

bobdude17



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Sr. MemberActivity: 454Merit: 250 Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore June 14, 2013, 07:20:54 AM #16198 Quote from: KS on June 14, 2013, 07:13:10 AM Quote from: MickeyT2008 on June 14, 2013, 07:00:24 AM From the way this keeps happening I can't help wondering if it's a deliberate attempt to damage confidence in BTC rather than a way to make money or simple incompetence. Now, who would both be able to afford to do this and benefit from it? Maybe I'm just being paranoid but I can't help suspecting the US government or their banks - neither of whom are famous for playing fair or even obeying the law. They could cause trouble like this with their spare change.



I don't think a tin foil hat is necessary to consider them capable of malicious behaviour, they have a long history of it.



or it's a way to soften up the meat before you *really* bite into it...

or it's a way to soften up the meat before you *really* bite into it...

I don't think anyone is going to take a big bite until MtGox no longer determines the price of the Bitcoin market. It really is laughable when you think about it. I think everyone is really just waiting for the next gen exchanges. I don't think anyone is going to take a big bite until MtGox no longer determines the price of the Bitcoin market. It really is laughable when you think about it. I think everyone is really just waiting for the next gen exchanges.

KS



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Sr. MemberActivity: 448Merit: 250 Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore June 14, 2013, 07:38:54 AM #16199 Quote from: bobdude17 on June 14, 2013, 07:20:54 AM Quote from: KS on June 14, 2013, 07:13:10 AM Quote from: MickeyT2008 on June 14, 2013, 07:00:24 AM From the way this keeps happening I can't help wondering if it's a deliberate attempt to damage confidence in BTC rather than a way to make money or simple incompetence. Now, who would both be able to afford to do this and benefit from it? Maybe I'm just being paranoid but I can't help suspecting the US government or their banks - neither of whom are famous for playing fair or even obeying the law. They could cause trouble like this with their spare change.



I don't think a tin foil hat is necessary to consider them capable of malicious behaviour, they have a long history of it.



or it's a way to soften up the meat before you *really* bite into it...

or it's a way to soften up the meat before you *really* bite into it...

I don't think anyone is going to take a big bite until MtGox no longer determines the price of the Bitcoin market. It really is laughable when you think about it. I think everyone is really just waiting for the next gen exchanges.

I don't think anyone is going to take a big bite until MtGox no longer determines the price of the Bitcoin market. It really is laughable when you think about it. I think everyone is really just waiting for the next gen exchanges.

If I were an Evil Twin and had enough money, I would definitely try to wreak havoc (not too much though, don't want to completely destabilize the ecosystem) to buy at a lower pricepoint.



But yes, nextgen exchange is an idea. That actually can lead to yet another tinfoilhattery: what if I really wanted to destabilize MTG and then, like a knight in shining armor, open my brand new exchange (that follows all the laws, has some anti-manipulation features, whatnot)?



Bitcoin is actually pretty fragile, when you think about it, but also has an enormous potential. This has attracted and will attract more unsavoury characters. And when *real* money will start to play with it, run for the hills (actually, HOLD for the mid to long term). If I were an Evil Twin and had enough money, I would definitely try to wreak havoc (not too much though, don't want to completely destabilize the ecosystem) to buy at a lower pricepoint.But yes, nextgen exchange is an idea. That actually can lead to yet another tinfoilhattery: what if I really wanted to destabilize MTG and then, like a knight in shining armor, open my brand new exchange (that follows all the laws, has some anti-manipulation features, whatnot)?Bitcoin is actually pretty fragile, when you think about it, but also has an enormous potential. This has attracted and will attract more unsavoury characters. And when *real* money will start to play with it, run for the hills (actually, HOLD for the mid to long term).