Pretty ridiculous

[Secondleo]

Someone is making some nice money right now.
I'm sure other people have noticed.
As soon as the price starts to rise a little higher, some massive sell walls pop up, price drops back.
As soon as the price starts to drop a little lower, some massive buy walls pop up, price climbs back.

Rinse, repeat, make some easy money. It's like playing ping pong with monkeys.
Good idea, really... is there some other exchange on the horizon already?

[shantell]

But in the end it is very smart to keep the price pretty low for now so it will attract new users. In the end it will skyrocket if the stakeholders play their cards right.

[Secondleo]

Of course a lower price is something that is desireable.
That ping pong play on the other hand isn't.

A manipulated market is less attractive than a free one. Even if it just looks like one.

[shantell]

But i hope the stakeholders goal is to ditribute some coins, but they dont know how yet?

[newcn]

there's an exchange based on ripple platform:
https://peercover.com/#/simpleGateway

[Ezravdb]

lol aint nobody quick buying atm

Seems like a lot of folks are quick selling, why would you do that for 0.00006xxx lol

[BitDred]

lol aint nobody quick buying atm

Seems like a lot of folks are quick selling, why would you do that for 0.00006xxx lol

Why because maybe nobody is buying and at .0006 most made over 12x their money if they bought at .00000500 like a lot did just a week ago.

Price is consistently falling.

What people do not understand is if the price rises too much than nobody will buy. The big NXT holders who hold 80% of the coins will only be able to sell a few at those higher prices. Think supply and demand. Sell 1 NXT for $100 or sell 500 NXT for $20,000. Does it matter when you over over 100 million of them?

[Bionic]

The manipulation is crazy.   Its been like that for many weeks.   Yes somebody is making some nice money.

[BitDred]

The manipulation is crazy.   Its been like that for many weeks.   Yes somebody is making some nice money.

I just don't know who is coming in any paying so much right now. If people would just hold off and wait they could buy at a more reasonable level.

[pinarello]

Someone is making some nice money right now.
I'm sure other people have noticed.
As soon as the price starts to rise a little higher, some massive sell walls pop up, price drops back.
As soon as the price starts to drop a little lower, some massive buy walls pop up, price climbs back.

Rinse, repeat, make some easy money. It's like playing ping pong with monkeys.
Good idea, really... is there some other exchange on the horizon already?

Or it could be a big stakeholder spreading the wealth at this rediculous low price, buy fast coz it wont last long.


Pin

[Secondleo]

I have my NXT since quiet a while and I am happy with the development, I don't post much, but I'm not new here.

Thing is, that those big stacks are never bought or sold. They just pop up and drive the price the other direction.

If all orders are at sizes of about 10K-25K, the 360K orders are really highlighted.

I'm with many others... the market is so small, it is easily manipulated.

[pinarello]

AFAIK, it is manipulated the wrong way imo

just kidding, but hope they dont come whining that they could not get NXT at these levels.


Pin

[Mikesbmw]

I agree with Secondleo, those immense walls rarely get touched.

They are just there and once the market threatens to touch them *poof* they are gone.

This happened quite a few times the last days. Walls around 10k and on the low end around 5k.
As if someone is trying to keep the market within "payable" reach for everyone. Even the amount of the wall at 10k was the same several times.

Think about it: if coins get to expensive the large influx of new people would stop. Should the price get to low, you would lose quit a few unhappy traders who got in at the high end.

[Graviton]

Good idea, really... is there some other exchange on the horizon already?

What kind of exchange makes the "manipulation" as you call it, impossible? Nobody charges fees for order entry. What's the other exchange going to do to improve the situation?

That's how all thin markets work. If there is no demand or supply, there can be the fake demand or supply.

DGEX is going to introduce trading fees on Jan 1st to limit the nonsense bogus trading that some member consider having a distorting effect on the market.

[Secondleo]

It is always possible, but every additional exchange will make it harder for whomever tries to manipulate. Coordinating several places at once is just harder, simple as that.

I'm under no illusion the problem will vanish. It will be slightly mitigated though.