Quote from: IMZ on March 12, 2015, 09:35:31 AM

I spent long periods on Cryptsy today, trying to understand what is going on. My share of a 'buy' of coin has come in, but . . . there's no movement; and I want to pace myself a little, keep coin for Project Hoover (though there's more coming).

So I put in some buy support in place.

Stop spending long periods of time staring at Cryptsy.

What is happening is very easy to understand. Someone, probably the same person that ran the price up to .027 a few weeks ago and made a lot of coin, is holding the price down at .0135 with 8 BTC. Our own Mr. Jelks is holding the price up at .011 with a lesser treasure chest. He had three coins on it now he only has two. Because someone blasted down through it. No one has taken a whack at the .035 guy on the high side. This is because the price of bitcoin is going up. The USD price is holding in a range of $3-$3.70.

It will stay there until Jelks buys his coin at .011 and the mini-whale walks the price down to .010-.011 and accumulates more down there.

When he feels like it, probably when BTC reverses, or just before there is news like our next halving, mini-whale will cancel the 8BTC UNO sell order, and throw some BTC at the buy side and raise the price dramatically on day one. Punters and momentum players will take care of day two and three. Whale (and me) will be out at the beginning of day 3 counting our BTC profits.

Do not throw all of your BTC in. Play with 20% of your liquidity at any one time. Always keep a reserve of 20-30% so you are never caught "bitcoinless" if there is a sudden movement down to bargain territory like when people were buying at .002 and .003 a few months back.

Go read Wolong's paper again. It is a great summary of a very old game, and it's the only game people here know.