Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
Someone is running a bot on BitStamp that buys exactly 1 BTC at the lowest ask price every minute. (If there is 1 BTC available, otherwise it buys whatever is there.)
Costs about $7700 to run that bot for an hour, let's see how much ammo it's got.
Costs about $7700 to run that bot for an hour, let's see how much ammo it's got.
That isn't a bot - that's Bitstamp creating fake trades to pump its volume numbers and feign liquidity.
That is a bot, who's goal is to raise the price on bitstamp, to at least match the price on Mt.Gox. If someone will sell you 1 BTC every minute, what incentive do you have to stoop down to the highest bid price?
If I had to do such manipulation I'd do with 0.01BTC not 1BTC.
To me it just looks like someone with enough cash and some scripting skills has decided to buy coins and wants to avoid slippage.