Am I considered a whale if I trade with $10,000 - page 2.

leea-1334

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Quote from: BTCLovingDude on March 23, 2018, 05:47:51 AM

you may.

it will depend on the altcoin you are trading. right now $10,000 is going to give you 1.179BTC and with that amount you can affect the price of at least a hundred different altcoins, possibly more. these altcoins that i am talking about have small volumes since nobody trades them anymore so you can place big buy walls, manipulate the market and a lot of other tactics to pump and dump them.

but if you try to do anything in a bigger market your 1.179BTC will be nothing in something like litecoin for example because they have a much bigger market.

that is why it is becoming harder and harder to manipulate bitcoin because bitcoin is the only thing that is growing for real.

Exactly! You may never be called a Bitcoin whale (to even join the Bitcoin Club you should have 21 BTC, regardless of the amount) but if you look even on a big exchange like Bittrex, you see coins with daily trading volumes between 1 to 10 BTC. Even with 1 BTC you could trade back and forth several times a day and make the price go crazy.

Manipulation is real in altcoins, as you said.

diamondpony

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$10k is nothing. Maybe $100k could be considered a whale but I thought whales were those with serious money - enough to manipulate the market. Probably $500K+

bitcoinveda

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I don't think so because there are many people in the crypto world who is having more than 20 BTC with them. There are many whales who can manipulate the crypto market within the second, do you have the ability to manage them within second with your $10k?

JHED1221

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I think you can call yourself as a whale as long as you holidng big percentage of total supply

Red-Apple

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Quote from: Cnut237 on March 23, 2018, 06:18:37 AM

Quote from: quickie69 on March 22, 2018, 09:04:23 AM

Just wondering. Would I be considered whale Huh

It depends entirely on the coin.
If you are trading $10k of bitcoin, you are definitely not a whale.
If you are trading $10k of a coin that only has $1 million market cap, then yes, you're a whale.

Big fish, small pond. Small fish, big pond. And yes I know that a whale is not a fish before anyone points it out:)

yet another very good reason why Market Cap should not be used at all!

just because some altcoin has a lower market cap it doesn't mean it also has a lower volume. an altcoin with $1 million market cap may as well have such a packed orderbook that nobody can move. or have a huge volume and liquidity that $10k can do nothing about.
for example SMLY has a tiny market cap but the orderbooks are packed (last time i checked it on Cryptopia) and $10k is nothing in it.
or you can see KBR, it has $800k market cap but its volume has been $700,000 and $10k is nothing in this coin.
same with ACE with $400k MC and $600k volume

CarltonWyatt

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People are playing with billions in crypto. I think a few million plus is enough to be considered a whale but there are different levels of wales so it goes deep

Cnut237

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Quote from: quickie69 on March 22, 2018, 09:04:23 AM

Just wondering. Would I be considered whale Huh

It depends entirely on the coin.
If you are trading $10k of bitcoin, you are definitely not a whale.
If you are trading $10k of a coin that only has $1 million market cap, then yes, you're a whale.

Big fish, small pond. Small fish, big pond. And yes I know that a whale is not a fish before anyone points it out:)

BTCLovingDude

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BTC to the moon is inevitable...

you may.

it will depend on the altcoin you are trading. right now $10,000 is going to give you 1.179BTC and with that amount you can affect the price of at least a hundred different altcoins, possibly more. these altcoins that i am talking about have small volumes since nobody trades them anymore so you can place big buy walls, manipulate the market and a lot of other tactics to pump and dump them.

but if you try to do anything in a bigger market your 1.179BTC will be nothing in something like litecoin for example because they have a much bigger market.

that is why it is becoming harder and harder to manipulate bitcoin because bitcoin is the only thing that is growing for real.

Tol9n

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Quote from: quickie69 on March 22, 2018, 09:04:23 AM

Just wondering. Would I be considered whale Huh

It all depends on the coin and its volume, the whale is the one who almost single-handedly captured the coin and can itself influence it. Therefore, think yourself whether you are a whale.

pey

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You are just a little fish with $10.000 Grin

I think whale is someone who can affect the market, you should have at least $10M or such amount of money. I mean $10k is nothing.

platinov_and

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SPOKKZ

Quote from: quickie69 on March 22, 2018, 09:04:23 AM

Just wondering. Would I be considered whale Huh

I would not consider you a whale. but it all depends on the volume of the coin. if the coin has small turns then you are really a whale. if you look at the top 10 coin, then you're definitely not whale!

Mister1k

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Quote from: quickie69 on March 22, 2018, 09:04:23 AM

Just wondering. Would I be considered whale Huh

If you trade this much what is impact on the other places stupid. Like you people created a unwanted spam thread in this forum. We all finding the more trouble by the spammer here. I think this thread goes like a trashcan from now.
Hope you lock this thread before all this happen. There is nothing uses for this forum or the members.

Chuokie

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Well sort of, but I don't see any bad reason if you used that money to Altcoins since you have fund to spare not like us that we earn through hard work. You have right to to make it your budget to make it more bigger.

xenomorphe1

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You can become a whale if you buy 1000 WhaleCoin Grin

. You can be a real whale if you have 0.5% of a coin. It depends of the number of people having the coin.

beebee187

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I would say unless it is a really small coin with really low volume, you would not be considered a whale, as your trading would most likely not have any major impact on the price of the coin.

faatipoke

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Quote from: quickie69 on March 22, 2018, 09:04:23 AM

Just wondering. Would I be considered whale Huh

You will be an Anchovy instead. Do you want to swim in the ocean Anchovy? I think this is difficult for you because whales and sharks are out there and Anchovy does not have a defence for them

Seriously a whale is a person having more than 1000 btc. If you trade in small cap altcoins 100 BTC will make you a whale.

anggriani

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Quote from: quickie69 on March 22, 2018, 09:04:23 AM

Just wondering. Would I be considered whale Huh

I am confused why are you so ambitious to be a whale?
Is it so important to you?

People will not care about this, you better focus to manage your assets.
How from $10000 could be $100k can even be 1 million dollars.

DiceChain

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if the volum is low 24h. you are a whale. if you like volum 24h. About 100k or 1 million, you are just an ant Grin

topesis

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Absolutely no, Why would you be considered a Whale because you have amount a little bit above 1BTC, A whale is a person who their buy or sell order can move the direction of the market. A $10K in most order is nothing expecially on big exchanges, if you are talking if some project with low cap it may move the price because most of them lack volume to help the price

l4w

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I think it depends on the coin. When your trades are forming like 1% of the 24h volume of a coin I would consider yourself a whale. But with the more popular coins that's definitely not the case with 10 grand.

Topic: Am I considered a whale if I trade with $10,000 - page 2. (Read 534 times)