he didn't just lose $400,000, assuming the calc is correct.
Occam's Razor indicates he also lost control of 30000 BTC. that's even more important. i don't buy the idea he bought his own wall. too much lost in fees when he could just've taken it down. and he could've backed it up for a higher price.
Topic: 25k btc's are about to be dumped on just bitstamp - page 3. (Read 7308 times)
The wall builder lost about $300,000 doing this crazy move.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.
The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.
The whole thing was orchestrated by the people that have been acquiring throughout the sell off, and is intended to spark off the next run up.
I guess these other guys can't possibly fathom that exchange insider whales would have enough funds and bitcoins to:
1. Open large short positions at 600 (precisely on the 3D chart crossover to the downside)
2. Start slowly selling off bitcoins to drive market down, putting up large sell walls along the way
3. Drive a capitulation down to $275
4. Set up their own 30K btc sell wall @ $300, and buy it back with small purchases to short cover without sparking a rally
5. Remove all sell pressure after the short cover, allowing market to naturally rise
Naw, that couldn't possibly happen. Nope.
I tend to agree....so the market isn't scared of 300...would they freak at mid 200s?
Do you think they'll have a go at it to see?
Do you think they'll have a go at it to see?
Putting a 20k btc wall at say $250... it would be purchased immediately by all existing bids, any left over would be snapped up by a hoard of hungry pirhanas (arbitrage).
It would only drag global price down by about $10 for a short time and then rebound leaving strong support at 250.
If a low wall gets chewed through like this, it's a very bullish sign for the market.
Chinese markets actually finished higher at the end of the wall than they were at the start.
Chances are we may not see $300 again... ( of course I could be completely wrong here, la di dah
)LMFAO! A Bitcoin insider dumps over $7mil in coins & the dumb money throws their money into the casino thinking they know better........ wow.
I tend to agree....so the market isn't scared of 300...would they freak at mid 200s?
Do you think they'll have a go at it to see?
Do you think they'll have a go at it to see?
Putting a 20k btc wall at say $250... it would be purchased immediately by all existing bids, any left over would be snapped up by a hoard of hungry pirhanas (arbitrage).
It would only drag global price down by about $10 for a short time and then rebound leaving strong support at 250.
If a low wall gets chewed through like this, it's a very bullish sign for the market.
Chinese markets actually finished higher at the end of the wall than they were at the start.
Chances are we may not see $300 again... ( of course I could be completely wrong here, la di dah
) Should have quietly sold little by little rather than trying to drive down the price.
It's entirely possible they've been doing that for the past few months.
^ This. It's pretty clear by now especially what just happened with the bitstamp wall. Whoever is doing this is driving the price down to either make short term profit from shorts, or preparing for a huge buy. Though, I do think their last plan to cause panic with the latest wall backfired and the market is finally showing resistance to any further price decline, but we will see.
Yeah but you would think such a move (market price ask wall of 20k btc) would be conducted at the beginning of a price drive down campaign, doing it now is risky, and we've just seen the result... the market almost chewed through it without needing to swallow... the wall was pulled when arbitragers started a buy frenzy (making a tidy sum that will probably be spent in the real world as fiat).
IMO the chances of that seller making future gains with that selloff are slim, he has produced a strong support at $300. I think we have tested the bottom, it's prolly up from here...
Maybe this question has been answered, so I apologize, but how can somebody hold that much fiat on a Bitstamp account? Is this a corporate account or something?
For example Cavirtex has a $USD limit on accounts, so you can only sell $150k of coins at a time before you need to withdraw. Bitstamp doesn't have this limit, but when I inquired they said they would monitor large or unusual transactions on an individual basis and possibly request additional ID info.
For example Cavirtex has a $USD limit on accounts, so you can only sell $150k of coins at a time before you need to withdraw. Bitstamp doesn't have this limit, but when I inquired they said they would monitor large or unusual transactions on an individual basis and possibly request additional ID info.
I tend to agree....so the market isn't scared of 300...would they freak at mid 200s?
Do you think they'll have a go at it to see?
Do you think they'll have a go at it to see?
Should have quietly sold little by little rather than trying to drive down the price.
It's entirely possible they've been doing that for the past few months.
^ This. It's pretty clear by now especially what just happened with the bitstamp wall. Whoever is doing this is driving the price down to either make short term profit from shorts, or preparing for a huge buy. Though, I do think their last plan to cause panic with the latest wall backfired and the market is finally showing resistance to any further price decline, but we will see.
The whole thing was orchestrated by the people that have been acquiring throughout the sell off, and is intended to spark off the next run up.
+1
Should have quietly sold little by little rather than trying to drive down the price.
It's entirely possible they've been doing that for the past few months.
The market cap is still too small for bitcoin
The wall builder lost about $300,000 doing this crazy move.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.
The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.
Exactly. Which makes me think it was a bank or non economic agent.
Otoh, the increasing balances in many early adopter addresses doesn't jive with that. Do you have any specific evidence it was an early adopter?
Makes me wonder if it really takes the 'balls of an early adopter' to ride this train and all those bubbles. I guess they've already cashed out enough, in order not to regret everything, but they may of course still get burned big time, if there isn't another bubble or rise!
maybe the guy who won the 30k silkcoin auction decides to sell ---- pure BS 
at least we see some demand at that price level.
at least we see some demand at that price level.
The wall builder lost about $300,000 doing this crazy move.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.
The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.
And the point is, he's rich and we're not - what a stupid man
I didn't imply he was stupid, just a little crazy, not optimal way to sell coins.
Just discussing the whole situation as it's dramatic and interesting.
Bought few bitcoins at 290$ price. Feeling good.
Should have quietly sold little by little rather than trying to drive down the price.
The wall builder lost about $300,000 doing this crazy move.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.
The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.
And the point is, he's rich and we're not - what a stupid man
The wall builder lost about $300,000 doing this crazy move.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.
The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.
The whole thing was orchestrated by the people that have been acquiring throughout the sell off, and is intended to spark off the next run up.
The wall builder lost about $300,000 doing this crazy move.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.
The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.
Exactly. Which makes me think it was a bank or non economic agent.
Otoh, the increasing balances in many early adopter addresses doesn't jive with that. Do you have any specific evidence it was an early adopter?
The wall builder lost about $300,000 doing this crazy move.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.
Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.
The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.
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