Quote from: julz on August 03, 2011, 04:56:35 AM

Quote from: stsbrad on August 03, 2011, 03:44:25 AM

Quote from: proudhon on August 03, 2011, 03:13:22 AM

Quote from: Zem on August 03, 2011, 03:00:03 AM

I'll finish reading right after I put up a 15k BTC ask wall at $12.

That's awfully bullish of you. My 15k BTC ask wall is going at $11.80.

If the price hits 11.80 will all those coins you have a buy order for drive the price significantly? Whats the purpose of a "wall"?

Wait.. so is an 'ask wall' a sell order to stop bids.. or is it a buy order to block the asks?
My first interpretation was it's a sell order Tongue

If you want to manipulate the market you throw down a huge amount of Bitcoins on the Ask side so you literally flood the market with coins thus making an "ask wall". This will (in theory) drive the prices down so that you can then buy-in artificially cheaper and reward yourself on the way back up when people follow. The bigger the market gets, the less effective this technique will be as it would take alot of money to manipulate the market effectively, however that doesn't mean there isn't some hedgefunder in America who dosen't have the dough to do it. Now what happens if 1000 people with money are doing this technique? That makes us the suckers, and gives you a pretty basic understanding of whats going on with these crazy prices... How do we correct this? STOP SELLING YOUR BITCOINS...