Quote from: mesavoida on November 19, 2017, 08:20:11 PM

I found that this was also asked on Reddit. You can try it yourself making a $0.01 market order. There's no fee for this. It says there's a .005 fee for .20, however if you do it twice you aren't actually charged a fee. On the other side, you cannot sell pennies at a time. The minimum sell is 0.01BTC (~$80).

I don't think they are trying to buy a $1M a penny at a time though. 8,640 10-second periods a day come to $86.40 and $1,728/day. If you want to buy without fees and at a better price a post only limit order will do that. One theory is that this is DCA (https://www.investopedia.com/terms/d/dollarcostaveraging.asp). I think these also could be arbitrage bots testing the market spread.

https://www.reddit.com/r/BitcoinMarkets/comments/73nw0i/a_bot_is_buying_1_cent_of_btc_every_2_seconds_on/

I think trading mind games are not even necessary to make good profits while doing it. They are just there to try to trick people but in reality anyone who knows what they are doing will not and does not fall for such scams. This is very common to see on most exchanges and especially the pump and dumps where the pumpers aka scammers want to make it seem like the price is higher than it really is. Unfortunately, most people usually believe it.