Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
Would anyone be surprised to learn that the Winklevoss twins were almost solely responsible for pumping Bitcoin from single to triple digits with bid-walls?
No more surprised than to hear that they now want to cash out and realise that they can't
Wouldn't it make more sense to take cash from the IPO to manipulate the price further before cashing out? They might have enough cash and coins to drive the price up and down at will.
Yes, I already mentioned that, it's called propping up and it leads to insane volatility or more specifically flash crashes with crazy rallies in between.
The IPO IS them cashing out. Yes they can use their own cash to manipulate the price prior to an IPO, but that would mean buying more coins, the very things they are trying to get rid of. A dangerous game, especially in what is looking more and more like a bear market. And very telling that they applied at time when the price was at the psychologically significant $100 mark. Smells of FEAR to me. Perhaps they are the reason for the gap between us and other exchanges right now as they try to prop up the price
Yes it would lead to them buying more coins, but it doesn't require irrational acting (on their part and on their clients), you are right the outcome would be disastrous.
It's a bitter-sweet paradise for daytraders... since it increases both chaos and potential gains.