Author Topic: Ethercoin up 4533.49 %?!?! $ 32.63!  (Read 2810 times)

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Offline jwiz168

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Its back to reality ...  8)

Offline fuzzy

Ethercoin price seems back to normal.  What a crazy  flash!??

Any theories as to the cause?

Yeah, I think its a trader mistake and fuzzy thinks its a conspiracy. :P

Nope, I called it Primimg the Market.

However, don't be too quick to discount the real meaning of a conspiracy for one that you have been conditioned to perceive.  Not all conspiracy theories come from people wearing tinfoil hats and living in old fallout shelters. 

If I saw a guy giving his girl flowers and candy...taking her out to a really nice dinner...etc on valentine's day, my conspiracy "theory" that he wants to get some is probably going to be correct.  If he turned around and called me a conspiracy theorist as a dismissive term..it would make me no less correct.

Have you ever bought roses and chocolates for a girl you like on valentins day, hoping you'd get something special in return?  If so, you have conspired...it is human nature to conspire.
« Last Edit: November 19, 2014, 12:30:14 am by fuzzy »
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Offline Ander

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Ethercoin price seems back to normal.  What a crazy  flash!??

Any theories as to the cause?

Yeah, I think its a trader mistake and fuzzy thinks its a conspiracy. :P
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Offline Brent.Allsop

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Ethercoin price seems back to normal.  What a crazy  flash!??

Any theories as to the cause?

Offline fuzzy

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 aferwards.

Yes I remember.  It happened in the middle of an uptrend and had absolutely no effect on the price. 
At the time I was trading doge and had probably 5 million doge.  The big rises happened at other times and were the result of massive buying after the price broke out above certain levels. 

I made like 2.5 BTC on that doge trade. :)   Got a lot of extra bitshares out of it.

let me get this straight... it had absolutely no effect on the price?  But you made money off it going up after a massive influx of buying pressure after it broke certain levels?

Have you ever heard of Priming?

http://blog.tiptaplab.com/What-is-Priming-A-Psychological-Look-at-Priming-Consumer-Behavior

be back in a bit. baby needs bottle.... *update* its back down, but notice that "Mistake" put the ethereium icon above bitshares for all to see.*  ----priming the market.
« Last Edit: November 18, 2014, 11:45:44 pm by fuzzy »
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Offline Ander

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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 aferwards.

Yes I remember.  It happened in the middle of an uptrend and had absolutely no effect on the price. 
At the time I was trading doge and had probably 5 million doge.  The big rises happened at other times and were the result of massive buying after the price broke out above certain levels. 

I made like 2.5 BTC on that doge trade. :)   Got a lot of extra bitshares out of it.
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Offline fuzzy

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

not if it is primarily owne by one group of colluding individuals...

there is a big difference between value and perceived value.

Look at diamonds, for instance.  Why are they so expensive when they are by far not rare?
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Offline inarizushi

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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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Offline fuzzy


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 Ander

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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

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 fuzzy

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 Ander

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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

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 speedy

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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?