A while ago, Bitcoin was almost a synonym for volatility. The price could easily change 30% and more in a single day. That ended a few months ago. Since then, the price to the $ is as stable or even more stable than the Euro. What happened? http://mtgoxlive.com/orders is a graphical representation of MtGox's order book and the price. You can see that there is a bid wall at $5.20 and an ask wall at $5.30. I believe that is the same trader. He is limiting the range within which the price can fluctuate - *in other words, the price is manipulated*. The past weeks of history seem to indicate that the guy is slowly increasing his stash of Bitcoins - if the bid wall is weakened, it is enforced. You cannot break through. If the ask wall is attacked, the guy seems less dedicated to holding it. To cut the story short: I believe there may be someone slowly buying up large amounts of Bitcoins. And I believe that he is not interested in volatility. If true, this is good news and bad news. Good news because we can expect the price going up considerably at some point, probably triggered by large announcements or a hype campaign (Everybody did get a good position already, no?). Bad news, because it's possible that a single person is trying to own a large amount of future cash reserves - cash reserves that cannot be increased by definition. You have to consider that $10 Million is sufficient to buy up 10% of all Bitcoins that will ever exist - if you are able to keep the market oblivious of it. I believe that is a strong incentive for any Billionaire who understands the dynamics of Bitcoin. Cheers R|diger -- Zero State mailing list: http://groups.google.com/group/DoctrineZero ----- End forwarded message ----- -- Eugen* Leitl <a href="http://leitl.org">leitl</a> http://leitl.org ______________________________________________________________ ICBM: 48.07100, 11.36820 http://www.ativel.com http://postbiota.org 8B29F6BE: 099D 78BA 2FD3 B014 B08A 7779 75B0 2443 8B29 F6BE