I partially agree with the thread starter, but it's more complex. Many miners accumulate coins when price is going up, but sell all mined coins when price is going down beyond a certain level. So miners are not only inflating the supply continuously but also inflating volatility.
That's the reason I'm following closely PoS (proof-of-stake) and PoB (proof-of-burn) altcoins, which don't have this problem. Their volatility is not systematic but result of the low trade volume, frequent pump-and-dump activity and because most of them follow Bitcoin's price in a certain way. If one of them manages to rival Bitcon, it will be more stable, I guess.
Topic: "Bearwhale" doesn't exist (Read 1728 times)
All bears are temporary. They are mostly bulls who want more coins, otherwise they wouldn't have stuck around for such a long bearish market.
The problem is they never seem to be satisfied.
Otherwise, the market would have turned and we would have a roaring bull market by now.
There are people with lots of coins around. Search the topic that has a list of big scams and thievery and you will see.
I suppose that hackers and thieves that stole lots of coins(Gox, Stamp, etc) would like to sell them one day, so by definition they are bearwhales
I suppose that hackers and thieves that stole lots of coins(Gox, Stamp, etc) would like to sell them one day, so by definition they are bearwhales
All bears are temporary. They are mostly bulls who want more coins, otherwise they wouldn't have stuck around for such a long bearish market.
Except for those with an axe to grind for ulterior motives, like paid trolls, bankers, or those like a certain CS prof who put his reputation on the line by calling for Bitcoin's failure.
All bears are temporary. They are mostly bulls who want more coins, otherwise they wouldn't have stuck around for such a long bearish market.
Well, it exists in the way of someone possessing a very large number of coins. The ask walls on Bitstamp didn't come out of thin air, unless you suspect Bitstamp being behind it in some sort of manipulation-scheme or something...
It was a meme inspired by a very real (and documented) 30,000 BTC sell wall that was put up several months ago. The community bought it up and the meme was born.
Actually it has been around at least since the days of <$100 coins.
Back at the time of the 30kBTC bearwhale in early October 2014, CNBC quoted a post with a picture of bullwhale defeating bearwhale from over a year ago.
When there are single walls of multiple 10k of coins to be sold, on legitimate exchanges, it is some single entity who controls those coins. Whoever they may be, whatever their intentions I don't know, but if they put up such a big wall, they're a bearwhale!
Doesn't actually take that much capital to push the btc market around, not compared to forex exchanges.
I see the hard push down as an excellent sign of assumed future rally so any market manipulators can push it down, buy in low then profit from subsequent rally.
Anyway, point is that doesn't take much to be a bear whale in btc world, so I'm sure there's more than few around looking for cheap coinage
I see the hard push down as an excellent sign of assumed future rally so any market manipulators can push it down, buy in low then profit from subsequent rally.
Anyway, point is that doesn't take much to be a bear whale in btc world, so I'm sure there's more than few around looking for cheap coinage
The top 100 and 500 addresses are growing. Not only are there bearwhales, they keep getting mightier.
And this nonsense about miners dumping needs to stop. It's not nearly enough for the kind of price drops we are seeing, even if all of it was getting dumped. Which it isn't.
And this nonsense about miners dumping needs to stop. It's not nearly enough for the kind of price drops we are seeing, even if all of it was getting dumped. Which it isn't.
Yes they do i saw one
On a serious note, bearwhale is a whale (entity with lots of coins) who's a bear (who thinks they're overpriced and wants to sell them). So clearly they exist.
What you seem to be implying is that there is no one entity that's "manipulating" the market. Not sure what you mean by manipulating exactly, but looking at the charts during the recent decline and the manner the coins were sold i'd speculate that it was mainly driven by one entity (and it very well might be the same entity that had that on 30k sell order). Whether it was manipulation or just someone turning bearish and cashing out is anyone's guess.
As far as addresses growing if anything that implies a bull. A person buying up more coins, they'd be a bear if the balances went down and they were cashing out. Plus don't forget that majority of those are exchanges and business holding someone elses coins.
The top 100 and 500 addresses are growing. Not only are there bearwhales, they keep getting mightier.
And this nonsense about miners dumping needs to stop. It's not nearly enough for the kind of price drops we are seeing, even if all of it was getting dumped. Which it isn't.
And this nonsense about miners dumping needs to stop. It's not nearly enough for the kind of price drops we are seeing, even if all of it was getting dumped. Which it isn't.
Yes they do i saw one
On a serious note, bearwhale is a whale (entity with lots of coins) who's a bear (who thinks they're overpriced and wants to sell them). So clearly they exist.
What you seem to be implying is that there is no one entity that's "manipulating" the market. Not sure what you mean by manipulating exactly, but looking at the charts during the recent decline and the manner the coins were sold i'd speculate that it was mainly driven by one entity (and it very well might be the same entity that had that on 30k sell order). Whether it was manipulation or just someone turning bearish and cashing out is anyone's guess.
Bearwhale is an urban legend. What you see is the normal free market. No manipulation to the downside just the impact of the new mined coins being dumped every day.
If there was manipulation in the market it has always only been to the upside.
I dismiss the bearwhale-theory as an urban legend.
If there was manipulation in the market it has always only been to the upside.
I dismiss the bearwhale-theory as an urban legend.
A bearwhale to me means a lot of little bears combined together.
Once they know they are wrong, they will all go long again.
Bears are afraid and just looking at each other waiting for the first move.
true like is real life of one goes other are to follow
Bearwhale is an urban legend. What you see is the normal free market. No manipulation to the downside just the impact of the new mined coins being dumped every day.
If there was manipulation in the market it has always only been to the upside.
I dismiss the bearwhale-theory as an urban legend.
If there was manipulation in the market it has always only been to the upside.
I dismiss the bearwhale-theory as an urban legend.
A bearwhale to me means a lot of little bears combined together.
Once they know they are wrong, they will all go long again.
Bears are afraid and just looking at each other waiting for the first move.
Then how do you explain the more than 40% price drop in just a 2 weeks time span. Considering the size of bitcoin market cap, you need sizable fund coming from somewhere to drive down the price so quick and so fast.
Free market had enough after the exponential trend was broken. Inflationary pressure was too high, not enough new sheep buying. So panic happened. The last big drop IMO is simply the result of the inflation. People called it months in advance.
No new money: price goes down fast
I fail to see manipulation. I do not fail to see supply/demand is not in equilibrium.
People guessed a single entity was crashing the price ages before the bear whale revealed himself. I guess the bear whale slowly dumped a hell of a lot of coins before putting up the 30,000 BTC ask wall. I guess there must be other whales as big as the bear whale. The other big holders panic selling one after the other could have contributed to the last crash.
I have no patience for newbies who think they know it all. Another thing that keeps growing is my ignore list.
yes, isolationism and ad hominem arguments is the answer to everything
I have no patience for newbies who think they know it all. Another thing that keeps growing is my ignore list.
The top 100 and 500 addresses are growing. Not only are there bearwhales, they keep getting mightier.
And this nonsense about miners dumping needs to stop. It's not nearly enough for the kind of price drops we are seeing, even if all of it was getting dumped. Which it isn't.
And this nonsense about miners dumping needs to stop. It's not nearly enough for the kind of price drops we are seeing, even if all of it was getting dumped. Which it isn't.
Yes, top adresses need to buy so pump their own ass. Logical.
So the myth of the high inflation being important for distribution has been debunked with this too. After that theory has been debunked it could be safe to say Bitcoin is economically stupid with that much higher than necessary inflation.
3600 every day not enough to drop the price? So why do people think 30k like the auction or 19k like the bitstamp hack could influence price? After all it's only a week or two of mining. Son, you are actually underestimating those new coins' impact by several orders of magnitude.
The inflation takes at these prices 5000$ from the market every 10 minutes!!!
What do you think where that constant slow bleed is coming from? The 'bearwhale'? haha, no. It's from mining.
Jump to: