Topic: .. - page 2. (Read 5314 times)
Bearwhale anticipated this. Bearwhale is a smart guy.
The wall was up for 8 hrs. 8 hour volume at stamp, on a slow day, is around 10k coins. See where I'm getting at? I know I have a portion of that wall, and many people do, and I assume the volume was much higher than usual even without possible bearwhale buying. The last part of the wall - about 15k coins - went very quick, that could be him, maybe, possibly. But making much money on that? I don't see it. Just waiting would've been a much better strategy )
I don't think the BearWhale ate his own wall, here's why:
1. He could have done it at Huobi for free (and would have got more attention) instead of Stamp (with the higer fees and fucked up fee structure)
2. His coins were sitting in his wallet untouched since April 2013. Are you telling me that this guy had 9M dollars at bitstamp and then after more than a year he just moved 30k untouched bitcoins to bitstamp for the stunt paying a lot of fees for nothing?
https://twitter.com/dan_pantera/status/519294855999406081
1. He could have done it at Huobi for free (and would have got more attention) instead of Stamp (with the higer fees and fucked up fee structure)
2. His coins were sitting in his wallet untouched since April 2013. Are you telling me that this guy had 9M dollars at bitstamp and then after more than a year he just moved 30k untouched bitcoins to bitstamp for the stunt paying a lot of fees for nothing?
https://twitter.com/dan_pantera/status/519294855999406081
Step 1: Put 30,000 sell order in attempt to make the public believe you are trying to "push down" the price. This gives the average Joe the impression that the whale is trying to manipulate the price. (i.e. push it down)
Step 2: Average Joe "realizes" that this person is intentionally trying to manipulate the price. Thus, average Joe believes, "I'm smarter than that...I'm not falling for it!"
Step 3: Bearwhale rebuys the majority of the coins he tried to "sell" via many smaller purchases across dozens of Bitstamp accounts.
Step 4: Average Joe sees how fast the coins are eaten and thinks, "Look at that volume! People are buying the entire order! Look at the demand! We're headed up."
After all the coins are eaten up...the demand doesn't subside because the Average Joe is still thinking, "We're going up because of how quickly that wall was eaten...yada yada yada."
We go up 33% in a week as a result. Bearwhale lost a little bit to people that bought some of his coins...and commissions, but overall...he's up, a lot.
Bearwhale anticipated this. Bearwhale is a smart guy.
What do I think? I think Bearwhale is probably awesome at chess.
Step 2: Average Joe "realizes" that this person is intentionally trying to manipulate the price. Thus, average Joe believes, "I'm smarter than that...I'm not falling for it!"
Step 3: Bearwhale rebuys the majority of the coins he tried to "sell" via many smaller purchases across dozens of Bitstamp accounts.
Step 4: Average Joe sees how fast the coins are eaten and thinks, "Look at that volume! People are buying the entire order! Look at the demand! We're headed up."
After all the coins are eaten up...the demand doesn't subside because the Average Joe is still thinking, "We're going up because of how quickly that wall was eaten...yada yada yada."
We go up 33% in a week as a result. Bearwhale lost a little bit to people that bought some of his coins...and commissions, but overall...he's up, a lot.
Bearwhale anticipated this. Bearwhale is a smart guy.
What do I think? I think Bearwhale is probably awesome at chess.
I doubt he would be good at chess. And with 30k coins i would do other things then self buy them for fun.
The bearwhale would not need to use dozens of accounts, he would only need to use one account in addition to the one he used to place his sell order.
I believe that he was probably trying to push down the price artificially in order to buy bitcoin at an artificially low price.
I would guess that he probably made a bot/script to buy up to 30k bitcoin at a price no greater then $300 (his selling price) and was hoping that people would try to trade ahead of him, pushing down the price and allowing him to eat up these orders at a lower price.
I believe that he was probably trying to push down the price artificially in order to buy bitcoin at an artificially low price.
I would guess that he probably made a bot/script to buy up to 30k bitcoin at a price no greater then $300 (his selling price) and was hoping that people would try to trade ahead of him, pushing down the price and allowing him to eat up these orders at a lower price.
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