Quote from: Circonference on July 28, 2014, 10:59:03 PM

Quote from: Nxtblg on July 28, 2014, 09:39:19 PM

Just to let everyone know, there's now a big bid for QBC on Bittrex @ 700 satoshis exactly. Looks like the bidder either wants a lot of QBC or wants to wake the volume up. If the entire order goes through, it'll mean close to 0.5 BTC volume.

That person ups it to keep it in priority.

I noticed that there was a lot of dumping last week and a lot of low ball order setting. As I have been doing for the past month, I buy all under 500 and I have sold a considerable amount of high-value coins to do that.

The last big order I bought was 10K QBC at 200sat. And I felt kind of bad for the person who gave that up given the upcoming fork but I am going to give away these QBC at some point as bounty or in the faucet.

There should be very little QBCs available at a low price after that 65K order is filled.

Marie-Lynn

Hi, Marie-Lynn,

First of all, a confession. "That person [who] ups it to keep it in priority" is me. I didn't identify myself at the time because I wanted to stay anonymous.

But after I posted my notification here, a strange thing has happened. Every now and then, I have gotten conceited enough to imagine I could wake up a thinly-traded vehicle with thin order book and wide spread by placing a big order at the low ask and even the second-low ask. I was hoping to "paint the tape" by showing a nice jump that would wake the vehicle up.

It never worked! My buy always turned into a blip, after which the vehicle fell back to its listlessness and lower price. So I gave up on that vanity, learning the hard way that it was nothing more than a sucker's fancy.

With this in mind, I placed my 0.5 BTC bid well above the high bid but below the low ask. Just enough to narrow the spread. I was counting on the miners who point their mining equipment at their Bittrex deposit addresses to fill my order in small chunks - at 700 satoshis.

But after I did so and called attention to it here, an odd thing happened - really odd, given my prior "teachable moments." I found myself in a footrace, raising my bid in mostly small increments again and again as my bid sunk in the bidstack. I held off upping my bid for a time, hoping QBC would fall back, but it didn't. At least it didn't fall enough for me to pick up more at my price.

I have picked up some overall, but mostly at a higher price than the 700 I was set on. Right now, I have an outstanding bid at 803 satoshis for 50,000 QBC. None of it has been filled and the low ask is 874. The low ask at the time I started was actually well below my bid now, and the ask has little volume.

Given my prior experience, this is odd for me. I'm not even cheering. Instead, I'm scratching my head. I did buy to average down from the bagholder's IPO price I paid, but I also placed that big bid to see what would happen. And right now, what's happening strikes me as more odd than cheery (even though, objectively, I should be heartened.)