How to withstand whales? - page 7. | Bitcointalksearch.org

steve_rogers

member

Activity: 280

Merit: 62

Quote from: Harlot on April 05, 2018, 01:46:37 PM

Still it cannot prove that not all whales are doing direct trading to each other. If whales need to push the price down they cannot do it just by selling or exchanging FIAT to each other. If Skype Transactions are there way to deal it is because they just want an exact amount or quantity of crytpocurrency they want to get in exchange of their money without influencing the market, but they will always base their trades on the current market value of the cryptocurrency, and they won't stray away far from it.

If you have read attentively the article and my comment, it was mentioned that if they want, a single whale could manipulate the price of centralized exchanges (where trade the majority) the way they want, that's not a problem at all for them.

zolfa

member

Activity: 518

Merit: 11

I agree with you, because the sale of bitcoin with high value will make the skeptical bitcoin value and unstable bitcoin value.
Finally, bitcoin confused should stay at which point.

and our attitude is holding or buy along with whales.

Nick Abimanyu

member

Activity: 406

Merit: 19

HODL is the single most effective and appropriate way of not feeding whales, but we also have to make a purchase. How wonderful if the plan is done simultaneously by all bitcoin users without exception, but it seems difficult to do because some of us are still many sell bitcoin even though the price is low.

Harlot

hero member

Activity: 1806

Merit: 672

Still it cannot prove that not all whales are doing direct trading to each other. If whales need to push the price down they cannot do it just by selling or exchanging FIAT to each other. If Skype Transactions are there way to deal it is because they just want an exact amount or quantity of crytpocurrency they want to get in exchange of their money without influencing the market, but they will always base their trades on the current market value of the cryptocurrency, and they won't stray away far from it.

merchantofzeny

sr. member

Activity: 1036

Merit: 279

I half expected this to be happening. If you think about it, people rich enough to be investing millions in different projects would already have a large network, so it's not far-fetched that they'd decide to invest and act collectively in that investment. There are whales everywhere, in stocks for example.

Sure, hodl but if you can, ride the wave with the whales.

steve_rogers

member

Activity: 280

Merit: 62

Hey guys, just found a mind-blowing article about whales and "skype trading".

Quote

A small group of about twenty over-the-counter (OTC) traders and clients including big investors, miners, payment processors and hedge funds, has reached a monthly trading volume worth billions of dollars. Instead of using an online exchange like Coinbase or Kraken, the participants close major deals chatting on Skype and settle them by sending fiat via bank wires and cryptocurrency directly to each others’ wallets.......

So in December, when common people sold houses and cars or took loans in the bank and bought bitcoin during its unprecedented growth, bankers quietly sold all the bitcoins out of the exchange at high prices, and this did not affect the exchange rate, but when not over-the-counter areas were over, they came to the stock exchanges and the remains of bitcoin were already sold on open exchanges, causing a price collapse.
If a whale wants to buy bitcoin for $ 500 million and go with this amount to the one of top 5 exchanges, such as Poloniex or Binance, he can in one trading session, push the rate one or two thousand dollars up, and that's exactly what he does not need.

What are your suggestions??? I think the only way is just HODL despite the fact of price collapse.

Topic: How to withstand whales? - page 7. (Read 916 times)