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Offline luckybit

Ethercoin up 4533.49 %?!?! $ 32.63!
« on: November 18, 2014, 10:26:43 PM »

I can't believe what I'm seeing.
http://coinmarketcap.com/currencies/ethercoin/#markets
Can someone explain this?
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Offline Ander

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Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #1 on: November 18, 2014, 10:28:44 PM »
I can't believe what I'm seeing.
http://coinmarketcap.com/currencies/ethercoin/#markets
Can someone explain this?

Someone put in an order at the wrong price and threw away 4 bitcoins.  It happens.
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Offline mf-tzo

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Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #2 on: November 18, 2014, 10:29:59 PM »
I think that just someone gave up $1.5k usd just to hype the price and appear n3 on coinmarketcap...Volume is everything...

Offline monsterer

Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #3 on: November 18, 2014, 10:34:27 PM »
And just like that it's out of there. Currently $4.

Market depth much?
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Offline fuzzy

Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #4 on: November 18, 2014, 10:45:57 PM »
these things only matter to thinkers...

not to people who only want profit and will hang on any thread of hope that their coins will be significantly priced.  this is not so much for the buyers as it is for those waiting in the wings...who will later be expected to sell. 

When they see this (especially if it is sustained long enough to pull ethercoin up to the top 20) they will not want to sell cheap...

Ethereum is wonderfully brilliant with their use of illusion to dictate perceived reality.  Effectively doing this frames reality...
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Offline feedthemcake

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Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #5 on: November 18, 2014, 10:51:15 PM »
If we made bitshares 1 million shares rather than 2 billion wouldn't our market cap be about 64 Billion right now?

Offline fuzzy

Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #6 on: November 18, 2014, 10:53:08 PM »
If we made bitshares 1 million shares rather than 2 billion wouldn't our market cap be about 64 Billion right now?

No because coinmarketcap would fuck the numbers up intentionally or drop us from the list and claim it was an accident due to a problem with the API.. :D
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Offline speedy

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Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #7 on: November 18, 2014, 10:55:23 PM »
these things only matter to thinkers...

not to people who only want profit and will hang on any thread of hope that their coins will be significantly priced.  this is not so much for the buyers as it is for those waiting in the wings...who will later be expected to sell. 

When they see this (especially if it is sustained long enough to pull ethercoin up to the top 20) they will not want to sell cheap...

Ethereum is wonderfully brilliant with their use of illusion to dictate perceived reality.  Effectively doing this frames reality...

Are you saying this is a deliberate ploy from the Ethereum hype machine?

Offline fuzzy

Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #8 on: November 18, 2014, 10:57:46 PM »
Draw your own conclusions, my friend.  What I say is made obvious.  I rarely hide what i'm thinking.

My words have been scoffed at in the past...but it will be obvious to those who read them in time. 

With that said, doesn't anyone here remember something similar happening with Doge on coinmarketcap that led to their leadup to the current position?   Very very similar from my perspective.
« Last Edit: November 18, 2014, 10:59:34 PM by fuzzy »
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Offline Ander

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Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #9 on: November 18, 2014, 11:06:24 PM »
I'm pretty sure this was just a noob trader making a fat finger trade into an order book with low volume, and not part of some master plan by ethereum. 

Every few days some coin gets into the top 5 as a result of a trade like this, and minutes later it is gone.  I remember a couple weeks back when solarcoin was briefly listed as being ahead of bitcoin.

Its just meaningless noise.  Except for the guy that just lost $1400 by being an idiot.  :)
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Offline fuzzy

Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #10 on: November 18, 2014, 11:19:52 PM »
I'm pretty sure this was just a noob trader making a fat finger trade into an order book with low volume, and not part of some master plan by ethereum. 

Every few days some coin gets into the top 5 as a result of a trade like this, and minutes later it is gone.  I remember a couple weeks back when solarcoin was briefly listed as being ahead of bitcoin.

Its just meaningless noise.  Except for the guy that just lost $1400 by being an idiot.  :)

keep telling yourself that.  Pretty convenient...wouldnt you say?

Do yourself a favor and start listing the little things that dont add up...they will more and more point to one single conclusion...
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Offline fuzzy

Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #11 on: November 18, 2014, 11:20:59 PM »
how often does coinmarketcap update?

Anyone know when this  jump happened?

what exchanges trade ethercoin?

Also, can anyone find statistics on what time of day coinmarketcap gets the most hits?
« Last Edit: November 18, 2014, 11:23:05 PM by fuzzy »
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Offline Ander

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Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #12 on: November 18, 2014, 11:26:30 PM »

keep telling yourself that.  Pretty convenient...wouldnt you say?

Do yourself a favor and start listing the little things that dont add up...they will more and more point to one single conclusion...

There is much more evidence to support the hypothesis that traders occasionally make mistakes, resulting in very silly prices in the short term, than the hypothesis that there is a conspiracy to support Ethereum based on blowing 4 BTC to make the price temporarily #4 on coinmarketcap.  And another conspiracy to support solarcoin by making the price temporarily #1 a few weeks ago.  And another conspiracy to support Dogecoin by making its price #1 a month ago (remember that one?).  And another conspiracy to support Stellar by making its price #2 a few weeks back.


Those are just the ones I remember.  This happens all the time.  Every time it happens, its not a deep conspiracy, its some guy fucking up the order on his trade.
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Offline fuzzy

Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #13 on: November 18, 2014, 11:29:08 PM »

keep telling yourself that.  Pretty convenient...wouldnt you say?

Do yourself a favor and start listing the little things that dont add up...they will more and more point to one single conclusion...

There is much more evidence to support the hypothesis that traders occasionally make mistakes, resulting in very silly prices in the short term, than the hypothesis that there is a conspiracy to support Ethereum based on blowing 4 BTC to make the price temporarily #4 on coinmarketcap.  And another conspiracy to support solarcoin by making the price temporarily #1 a few weeks ago.  And another conspiracy to support Dogecoin by making its price #1 a month ago (remember that one?).  And another conspiracy to support Stellar by making its price #2 a few weeks back.


Those are just the ones I remember.  This happens all the time.  Every time it happens, its not a deep conspiracy, its some guy fucking up the order on his trade.

 do you recall when doge went through the roof due to "errors" and ended up with like 3x the marketcap afterwards?

not doubting the possibility, of course....but we will need to see how long it stays like this and if the marketcap substantially increases from what it was after this "fuck up".

« Last Edit: November 18, 2014, 11:31:48 PM by fuzzy »
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Offline inarizushi

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Re: Ethercoin up 4533.49 %?!?! $ 32.63!
« Reply #14 on: November 18, 2014, 11:29:37 PM »
At one moment tomorrow ethercoin will be down ~4533%, probably worth a snapshot :D

I don't understand what you're afraid of fuzzy, you can't create value from thin air. If ethereum was at some point valued at $32 billion, in 10 seconds people will sell the shit out of it (and who would ever buy at that price??). And going down 1000% in minutes would propably not make a good publicity stunt
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