Quote from: Piper67 on July 14, 2011, 12:45:47 PM

Quote from: Serge on July 14, 2011, 07:33:20 AM

Quote from: DamienBlack on July 14, 2011, 07:25:28 AM

Quote from: Serge on July 14, 2011, 07:20:17 AM

Quote from: DamienBlack on July 14, 2011, 07:15:41 AM

I don't see the problem. If you think 14.02 is a low price, buy. If you think it is a high price, sell. Never mind the bots, the market will sort it all out.

I'm quiet fine with whatever value BTC is. re "the market will sort it all out" - aren't we the market?

Collectively, yes. Which is my point. The price is $14 because many of us think it should be. If a lot more were willing to buy the prices would move up, bots be damned. Same with selling.

In any case, I don't think bots are completely to blame for the price stability. A big buy, or a big sell, could still move the market.

You are right. Unless bots have deep pockets they won't matter much in large movements.

Or, unless the bots belong to the same people, and it's the same BTC going back and forth. With zero fees, there's no penalty to pay, and no matter what the rest of the market might wish, it would keep coming back to around $14 almost instantly.

But to make any money that way they need volume. The 24 hour volume has been ~ 20k or less each day, not all going to these imaginary bots.