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Re:Winklevoss twins to offer Bitcoin ETF by jessaustin on Tuesday July 02, 2013 @12:29AM (#5975829)
I think we're talking about parties who don't actually have an order in. Rather they have automated a process to enter orders in response to certain conditions. Depending on what those conditions are, you won't be able to rely on a continuous price trajectory.

Admittedly, I don't see how this is different for BTC than it would be for any other asset.

Re:Winklevoss twins to offer Bitcoin ETF by justincormack on Tuesday July 02, 2013 @04:58AM (#5976572)
Those are not providing liquidity in a useful sense right now. Usually the measure is people prepared to trade at current bid or offer ie a very narrow measure. If you want to buy at 1% down that's not useful now.