- If someone has the means they should rip this whale a new asshole. What a complete wanker, we were going up nicely before this.
EDIT: Damn! Someone just ate 11.5 BTC of his!
Eventually he will realize that he is not safe to low ball like that and will just sit back.
Good. Still confusing as to why you would bother doing things this way. It's not enough to actually dump the market down into lowball buys (assuming he wants to accumulate) and it's guaranteed to get a poor price over all for your coins (assuming he wants to divest).
That's the problem with growing too fast - it's possible he's just an idiot that found himself with BC he feels is worthless now that the spike is past and thinks it's all gravvy.
Even when things were going nuts yesterday, and I was taking profits - I still never placed a single sell for more than 3BTC and always well between the bigger orders so as not to form a wall... probably made an extra 5BTC doing that. This guy will likely be broke in a week...
I would wager it is one of the people who proclaimed a while back that they were going to "destroy blackcoin" - that whole resistance towards the Multipool. The beauty is that not only will he consistently make a loss each day by holding the price down and getting his sell walls munched up but each time this happens the market gets a signal "Shit, someone is willing to buy 12BTC at 27,000 - probably going to be safe buying back in then!"
But yeah you are right, its not profitable to do what he is doing and we can only assume he is doing it to deliberatly try and destroy the coin - but he can't and he wont. It might take a week or two but eventually he will have exhausted his BC stash and be out of pocket by hundreds of Bitcoin compared to what he would have made had he let the market rise and trickle sell his coins.
EDIT: And it's a real plus having a big BTC holder like yourself on the good side, that is, not trying to hold the coin down - When the price rises again it will be because of you and others like you that brought confidence back to the market.
