25k btc's are about to be dumped on just bitstamp - page 6.

krb91

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Activity: 254

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Streamies Rocks!!!!

Quote from: Cortex7 on October 05, 2014, 09:51:46 PM

Maybe pressure from the wife...

Quote

wife:
honey we want dollars not bitcoins

early adopter:
but the blockchain will free mankind, plus if we wait we can afford a large island with airstrip and helis and jets etc.

wife:
but if you sell today we can get the olympic size pool instead of the regular size.

early adopter:
shit... ok, $300 is my lowest price (deploys THE WALL)

wife:
wow hun your dollar amount no longer says zero in the account, in fact its going up by $3000 a minute... I LOVE YOU HUN!

etc...

That makes sense. I originally thought it's because he wants the money, but it's probably because she wants the money.

Cortex7

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Activity: 238

Merit: 106

Quote from: serenitys on October 05, 2014, 09:50:25 PM

Oh...well hell.

I am not a trader so a lot of this was over my head but I think I got it. The manipulator/real seller/bf buddy whale bear man person didn't put up 25k - 30k worth of bitcoin, he put up 25k-30k bitcoinS which would be selling 7 frigging million dollars worth at 300ish?

Shocked

Is that right?

correct

Quote from: serenitys on October 05, 2014, 09:50:25 PM

Is that why all the charts flatlined all of a sudden?

Yes, good news that they go flat, this means his coins are being bought, other exchanges want to rise in price and some people take advantage (arbitrage) buying cheap $300 coin on bitstamp and selling for a little guaranteed gain on other exchanges.

Quote from: serenitys on October 05, 2014, 09:50:25 PM

And if he was to sell 7 million, it would send the price careening toward single digits?

Is that right?

If he were to push "Sell Now" and place a market order then some lucky people on bitstamp would get some very cheap coin.

Then all other exchanges would share the blow through arbitrage.

I'm not sure what the final "stable" price would be, but nowhere near sinlge digits.

Quote from: serenitys on October 05, 2014, 09:50:25 PM

And the death knell silence happening is waiting to see what happens in the next 24 hours when the day people wake up Monday and discover the 6 million dollar man is holding up bitcoin fun?

So can this person cancel the order to sell all these coins and if so, and he/she did, what would happen to the price at that point?

Also, should I go make popcorn? Is it gonna be one of those nights? Can girls play too because this is seriously interesting to me. Grin

The person would be mad to hit "sell now".

We should start to worry if the price drops below the wall and he moves it down.

Cortex7

full member

Activity: 238

Merit: 106

Maybe pressure from the wife...

Quote

wife:
honey we want dollars not bitcoins

early adopter:
but the blockchain will free mankind, plus if we wait we can afford a large island with airstrip and helis and jets etc.

wife:
but if you sell today we can get the olympic size pool instead of the regular size.

early adopter:
shit... ok, $300 is my lowest price (deploys THE WALL)

wife:
wow hun your dollar amount no longer says zero in the account, in fact its going up by $3000 a minute... I LOVE YOU HUN!

etc...

serenitys

full member

Activity: 126

Merit: 101

Be Here Now

Oh...well hell.

I am not a trader so a lot of this was over my head but I think I got it. The manipulator/real seller/bf buddy whale bear man person didn't put up 25k - 30k worth of bitcoin, he put up 25k-30k bitcoinS which would be selling 7 frigging million dollars worth at 300ish?

Shocked

Is that right?

Is that why all the charts flatlined all of a sudden?

And if he was to sell 7 million, it would send the price careening toward single digits?

Is that right?

And the death knell silence happening is waiting to see what happens in the next 24 hours when the day people wake up Monday and discover the 6 million dollar man is holding up bitcoin fun?

So can this person cancel the order to sell all these coins and if so, and he/she did, what would happen to the price at that point?

Also, should I go make popcorn? Is it gonna be one of those nights? Can girls play too because this is seriously interesting to me. Grin

cypherdoc

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Merit: 1002

there's surely no dump going on.

RockHound

full member

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Merit: 100

Quote from: Cortex7 on October 05, 2014, 09:27:36 PM

Wall is being bought at a rate of ~10btc a minute.

If this rate continues it will be gone in ~1.5 days.

Perhaps Bitstamp only allowed this client to exchange for certain periods?? (I don't know)

I'm sure I remember, you have to contact Bitstamp if you want to deposit over a certain amount (it's a lot) I sent over my Superannuation money + savings and was ok (nowhere near this whales $9-10Mil)

Xiaoxiao

legendary

Activity: 1274

Merit: 1000

The Golden Rule Rules

I think this is just a small trick from their bags. No one shells out 30k btc's like that. I think the bigger ammos are to come, once this 30k is eaten up and no more buy orders left on exchanges. Then he shells out the big guns aka 50k stacks and 100k stacks... and good buy to the 300s.

Cortex7

full member

Activity: 238

Merit: 106

Wall is being bought at a rate of ~10btc a minute.

If this rate continues it will be gone in ~1.5 days.

21126 now left in the $300 wall.

RockHound

full member

Activity: 224

Merit: 100

Are people just putting orders in @ $299.99? To buy off him

$299.99 keeps getting topped up - Wonder if he will stay once they have all completed @$299.99

RockHound

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Activity: 224

Merit: 100

Quote from: williamj2543 on October 05, 2014, 08:55:10 PM

Damn, thats 10 million dollars right there. What will the price be after this order is fulfilled?

Big Dawg scoring cool points with us Bitcointalkers Cool

Just 21347BTC to go

RockHound

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Activity: 224

Merit: 100

Quote from: krb91 on October 05, 2014, 08:48:56 PM

What do you think will happen to the price after the order is sold/removed?

Good question - from the other times he entered Bitstamps' Orderbook today, would say the price is going down, but got an irrational feeling that the opposite will happen

marvinrouge

sr. member

Activity: 378

Merit: 250

I buy some. Just to be a part of this Grin

krb91

member

Activity: 254

Merit: 10

Streamies Rocks!!!!

Quote from: vuduchyld on October 05, 2014, 08:49:27 PM

Quote from: krb91 on October 05, 2014, 08:48:56 PM

What do you think will happen to the price after the order is sold/removed?

Last two times he pulled it, the price went up to 320 ish

I was almost ready to panic buy at $325, but then his $300 wall appeared. Thanks to whoever put that wall there.

williamj2543

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Get ready for PrimeDice Sig Campaign!

Damn, thats 10 million dollars right there. What will the price be after this order is fulfilled?

Cortex7

full member

Activity: 238

Merit: 106

Quote from: vuduchyld on October 05, 2014, 08:49:27 PM

Quote from: krb91 on October 05, 2014, 08:48:56 PM

What do you think will happen to the price after the order is sold/removed?

Last two times he pulled it, the price went up to 320 ish

~~Hmmm.. has he gained some control? maybe a technique to lure bids into smaller orders he leaves after the wall is turned off?~~

no it's just arbitrage eating into his wall. If he left that wall up for a few days I bet it would be eaten.

marvinrouge

sr. member

Activity: 378

Merit: 250

Quote from: DieJohnny on October 05, 2014, 08:49:58 PM

I dont think this is manipulation, the sell wall is back every few hours and it is getting smaller. Some large holder is exiting the market in the stupidest fashion possible.

Sounds legit, but if each time he creates a wall he sells 3k, why not to make 3k walls Huh

Cortex7

full member

Activity: 238

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wall is being turned on and off, if he's trying to get out quietly he sure is being loud about it Cheesy

DieJohnny

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I dont think this is manipulation, the sell wall is back every few hours and it is getting smaller. Some large holder is exiting the market in the stupidest fashion possible.

vuduchyld

sr. member

Activity: 364

Merit: 250

Quote from: krb91 on October 05, 2014, 08:48:56 PM

What do you think will happen to the price after the order is sold/removed?

Last two times he pulled it, the price went up to 320 ish

krb91

member

Activity: 254

Merit: 10

Streamies Rocks!!!!

What do you think will happen to the price after the order is sold/removed?

Topic: 25k btc's are about to be dumped on just bitstamp - page 6. (Read 7308 times)