MaidSafeCoin (MAID) - Price & Trading topic (Part 1)

Dang that was quite a drop today, 229 BTC. Looks like a whale is trying to run the stops and scare out some (hopefully last-minute) margin calls.

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Its the Pump&Dump we used to see last year for a while where the whale(s) would buy up prior to update release and FOMO would cause others to buy up too. Then they dumped before the update came out while others are still buying fearing missing on the next big MAID price rise.

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But why wouldn’t they hold through the pump? One other possibility is that it’s a “test pump.” Have you read this article? https://cryptofrenzy.files.wordpress.com/2014/02/god.pdf

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The Whales create an extra rise by buying up while it lower and expectations of a BIG announcement are rising. The others who fear missing out on some BIG announcement causing the price to rise forever buy up too.

The whales take advantage of this additional rise and cash out and move onto the next market.

The whales don’t want to tie up their funds. The can get 8%-20% from successful pumps and dumps and do this each week. Why hold? Of course you need big funds to be able to pump&dump

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5 posts were split to a new topic: An academic paper that examines the benefits of adding bitcoin to a portfolio of assets:

Well that was off-topic and worthy of its own topic, I have moved the posts to a new topic (see split message above this post)

Feel free to continue the BTC academic paper discussion there

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The last 15 minutes the price of MAID has gone up roughly 15%.
Anyone an idea why?
Someone with a lot of money has seen the light or some news I missed?

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Someone bought up nearly 500btc in a bit of a rush. Feels a bit suspicious for being in such a hurry, but meh. Better up than down :wink:

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Loads of coins have had big pumps & dumps over the past week - maybe some whales decided it’s Maid’s turn. I’d prefer it if there were a more sound explanation, but this seems to be the reality of short term crypto currency trading!

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My guess is it will go to 65 or 70 Mil and then slow do again. When you think about maidsafe, I kind of think that its likely ahead of Ethereum with their planned move to POS, things could get interesting. Not sure what the latest is.

If I had 500btc I’d lay it down too. So much goodness on the way, vaults from home, Alpha 2 if it works as planned, node age and data chains.
I’d say long or short whoever that was will see an healthy return or its at least worth the gamble.

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But you could spread your buys over as little as 3-4 hours and save yourself thousands rather than buying out the book and letting it retrace 10%.

Really, the only good reason for intentionally pushing up prices is the short squeeze imo. I have no problem with shorters getting smashed by whales, their loss is all of our gain ;). There have been a lot of shorts open recently in maid, lending rates went up to 1% a day two weeks ago and they’ve stayed over 0.2% most of time time since. I suspect a whale saw a good chance to splash around with that many shorts open. They can set each other off like dominos as they panic close or get liquidated. It doesn’t seem to have worked very well though yet, if that was the intention. Perhaps they will come in with another push to clear them out and create a new floor for them to pump from? :wink: Who knows? No way to know what’s really happening behind the scenes of course. That buy was suspicious though, it seems crazy to me anyway.

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So last week we had 500BTC buy then a lot of sells.

Today we have 420BTC buy. Will it be followed by sells?

Good question. I’m assuming the buyer is the same, so perhaps the better questions are: has he done buying, or is he building a big position? and why is he buying now? $800k isn’t pocket change. Someone seems to believe good things are going to happen.

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Agree, it feels very much like the start of a pump cycle to me. The pump relies on actual news and development to create real excitement and bring in new investment above the point the pumpers enter. It just feels like market-makers taking positions to my untrained eye.

Feels to me like a positive sign for maid holders in the short term. In the long term none of this stuff really matters that much I guess.

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Makes sense. I’m not a trader, so I really don’t have a feel for the kind of size whale’s throw around, but I’m assuming you think 1000BTC is fairly standard? I’m also probably wrong, but something you said in an earlier post makes me suspect it isn’t a whale: the position management doesn’t seem typical of a professional trader right? Clearing out the order book temporarily, just to watch the price go down again seems very amateurish.

I also agree that it doesn’t mean very much, and while it’s nice to see, I’m not going to get excited until this kind of thing happens when we have a live network whose user base is scaling rapidly.

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It is either someone with more money than sense, or a shrewd trader who is orchestrating with others to continue to pump and extracting free money from the shorters they trash on the way up. The only real ‘reason’ for intentionally pushing prices up is to short-squeeze and pump for profit.

I guess we’ll see soon enough. There’s no reason for fomo yet, so if they continue to chop the book to pieces it becomes less and less likely that it’s just investors who don’t understand how to not throw away 5-10% of their $500k investment when they buy from a low volume market.

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True, but it looks to me like we’ve broken a very important downtrend. Here’s the daily going back to the ATH in March last year. I haven’t drawn in a trendline from the 2 previous tops, but from eyeballing it, it’s clear that’s been broken:

For a change in trend to happen, we need to break the trendline, but also (in a new bullish trend) to make a higher low and a higher high. Zooming in to more recent history, that’s exactly what’s happened:

Bottom line, I can understand why traders are getting excited here.

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I absolutely agree about people having good reason to enter and take positions now.

However, there are only two reasons for buying entirely out of the sell book rather than placing orders, even if they are big orders a little above the current ask. Those two reasons are fomo/urgency and destroying short positions because their losses feed your pump and profits. There will be some fomo now, that big buy will create a bit, but there wasn’t any reason for it when he could have spread the buy over a few hours or days and got them cheaper.

Who knows though, I might just be seeing what I expect to see, not what’s really there. :confused:

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So not the ‘ding an sich’ eh Mr Kant? :slight_smile:

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