Topic: Does BTC Value Even Matter for Whales? - page 2. (Read 2519 times)

I used to and even invested £500 once in Bitcoin way back in 2011. Without caring if I lost the money (a small amount compared to what I was piling into gold n silver at the time) but just doing it to provide the market with liquidity and 'support' the cause. Unfortunately for me, all those coins ended up on Silk Road, as did countless other single digit coins. I never bought my first speculative BTC until late Nov 2013....not entirely out of stupidity as I work offshore for weeks at a time and often can't participate in obvious bull runs etc.

These days I take a much more cynical view of Bitcoin. I suspect that Bitcoin was created by the NSA and intended as a means of facilitating capital flight out of lesser nation's economies. Even if I am wrong and the received wisdom of Bitcoin being created by a lone libertarian cyber-anarchist is correct, Bitcoin has turned into a great big blood thirsty andd highly manipulated cut throat market that wants to feast on your hard earned fiat.

So no, I don't 'care' about Bitcoin or it's development as a unit of exchange. It is a market like any other in which an individual may enrich himself, or impoverish himself. Right now, the odds are stacked far higher on investors losing money. That is the nature of bear markets where liquidity is leaving the market as opposed to bull markets where liquidity is pouring in, and Bitcoin is just as vicious in its retreat as it was voracious in its advance.

But dont you care at all about bitcoins advancement as a currency? Or are you purely an investor/trader?

What does your signature say Ibian?

"there is no bubble"

Did you have that signature when Bitcoin was at $1200?

A) yes he did.

Would you have advised a newcomer to be buying in all the way down from $1200

A) yes he would.

Would a new-comer to Bitcomer to Bitcoin therefore be seriously underwater had he listened to your advice anytime in the past 5 months?

A) yes they would.

And what about newcomers who listened to me when I told them not to buy in at $800, $700, $600 $500? They would still have their heads well above water right?

A) Ask bitcoinsrus who was practically commanded to buy 'cheap' coins @$820 by a big pile of Bitcoin Nutters on here only for me to stress firmly that he shouldn't.

Yeah...i am a shiote trader. I have even been stating that Bitcoin was overdue a counter trend rally up to $540 (check my post history) for quite some time yet still manage to get wiped out chasing a missed short opportunity. Nobody should ever copy my trades, not ever..... Being a good trader is 85% to do with being the right personality type and that type just isn't me...........But my ability to call a general trend has been pretty good up until now. Given enough time and even my last ever short trade would have come good...if I hadn't exited it with a 50% loss.....if it wouldn't have been 100% liquidised due to Bitcoin going 35 cents beyond it's liquidisation price at the very top of the price spike.

Sorry Ibian old bean, but $200 range it will be. Bitcoin takes these near vertical counter trend price spikes, rises 40% within a few days and then we find time and time again that there is no demand for Bitcoin at these levels cos the only real demand for Bitcoin is speculative demand. If people can't make money from it then they don't buy it and start selling it. Perhaps you should sell yours? After all, how fucking stupid would you feel if you are still holding in $200 range when you could have sold in $1100 range? That would constitute a massive loss in my books no matter what price I bought those coins at.

of course the value matters because at the end of the day even a lot of wealthy people feel poor.  The increases and decreases in prices just carry less weight as btc holdings substantiate a smaller and smaller percentage of overall net worth...

You should probably know that mat is not the best person to ask for advice. He had single digit coins, snorted them up his nose through the silk road and didn't buy in till 700 or something like that. He is also a self-admitted shit trader and claims no longer to care about bitcoin.

Do you believe bitcoin will ever reach $10,000+ per?

With all factors taken into consideration (demand, supply, hoarding, fake volume, pumping, dumping, hacking,):

It was $1200.

It is currently $496.

In the future it will trend much lower until or unless some kind of X-Factor has kicked in and takes it to the next level.

The two most recent Bitcoin bubbles have all involved it being used as a medium for capital flight. I expect more of the same at some point down the line. Exactly when, I couldn't possibly say.

How high do you think the saturation point is for bitcoin?

Yes, but clearly only up to a point. Obviously there are limits to how high a price can be driven before a saturation point is met.

Depends. ... if they are holding it .... like the winklevoss brothers.

of course it does. Lower btc price allows them to buy them in at a cheap

Couldnt the bitcoin price being driven up also put more buyers in the market for BTC?

Yes indeed. But for Bitcoin to get up to $1000, there has to be enough buying pressure in the market to soak up all the Bitcoins that are for sale between this price and $1000. Where is the interest in Bitcoin going to come from? Is a whale going to use his wealth to ramp the price up to $1000 being lumbered with all those expensive coins only for the organic market forces to bid spot price right back down leaving the whale seriously underwater?

Whales will try and pump the price as high as is required in order to maximise their profits. Selling at a high as possible price is how the best profits are made.

Couldnt they make more money in the long run if the price of bitcoin continued to rise? They could pump and dump as much as they want even if the price sits at $1000/BTC right?

I am sure that the Bitcoin whales would rather the market expanded, but since it is declining and liquidity is draining away from the market, obviously many whale entities are going to continue to excerise their market clout to extract as much fiat from the declining market as possible, and that means pump n dump.

My opinion:
When a stock rises and you can manipulate it you can make a lot of little profits on the way up by forcing it to collapse by selling.
Buy walls, sell walls forcing the market to become volatile and predictable for the whale manipulating is.
This way a whale can make multiple times the money on a rising market.
When we get to da moon the whale will be on mars

Whales can be more like hedge funds as well, not only ordinary 'buy that thing' investment funds.
Hedge funds can make money by shorting on downtrends freely, so they may or may not care, according to their strategy.

They could just be squeezing the last bit of profit from their investments.

Whales can influence the market with large buys or dumps and also buy/sell walls. They might get some insider info from exchanges too.

yes it matters, unless they don't care about losing money.  I have never met someone who doesn't care of the value of their investment.