Topic: LOVE (??) THE WHALES: WHO THE FUCK ARE THEY? (Read 271 times)

This was posted while I was writing the reply above. And its a different viewpoint that they don't make a difference. Do you think that speculating about their role, and i suppose, by extension, expecting them to show any form of pro-active zeal, is a waste of time? Should I just accept that their only but extremely important role is not to dump those stashes on the market?

I don’t see why you have to hate on whales.

How many times have you heard news about VCs, Startup Incubators or other such funding parties come out in the open and declare that "This is the technology of the future and I am investing a Million dollars in it"??Have you?? Give me one example and maybe we would have your "technology" whale. If we had even a few of such individuals, you would be seeing a far more concerted effort towards mainstreaming the technology. You wouldn't have so much misinformation on media ---

We have many problems already globally. Just not make another problem again against these whales.

Yes there are some who are angry with them but what can they do against them?? I don't think we need to hate them but just let them

Maybe I am just ignorant of these technology enthusiasts and am wrong to point out that the whales are little more than the wealthy factory owners in this very communist ecosystem.

What are your thoughts on this?

Do you think there are people out there with the dough and the willingness to make a difference?

"The whales" is mostly just a conspiracy theory. People know that some individuals hold a lot of coins, so they now blame every price movement that goes against their expectations of whales. Price falls? Whales are dumping. Price rises? Whales are pumping. Price goes sideways? Whales are manipulating.

You say that whales are elusive, but what it actually means is that no one has any good proof of who these whales are and when they are actually manipulating the market. We know a few concrete examples, like the bearwhale, which by the way nicely demonstrates that whales aren't as powerful as people believe.

I think speculating about whales without bringing no evidence of their activity is just a waste of time. Just like saying "Bitcoin will reach X" without any backing to your statement. This is just a pure guess.

I agree - leave the whales alone, and worry about the sharks.


and the pollution.

Someone posted a topic about an article claiming that the "Bitcoin Whales" have been accumulating and increasing their BTC stash post the "Black Thrusday" event.

I replied that kind of metric is simply a false comparison.

It is comparing a bunch of greedy motherfuckers against the over 90% of people who actually believe that BTC is worth something and hold less than 1 BTC.

There is no reliable way of knowing who exactly these whales are but I am pretty sure they are not "wise investors", as one reply in that topic puts it.

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The problem is that any such event is likely to play out in a similar fashion. If the price did a rebound down to 5k, who is going to buy it up... probably not the masses as it will be seen as a sinking ship. The same people accumulating now though will grab it up with the cash they've already made from BTC and whatever other early investor coins they've profited from.

There are some out there who are using their positions to educate assist and create a market for crypto in general.

Vent away good sir... much like the rest of the world issues you learn to live with it and try your best to not b part of the problem.

that makes no sense!
you have to be either a developer to have any "weight" or start a centralized company which goes against bitcoin to have any "weight".

besides one thing that is important for many bitcoin users is privacy. and bitcoin technology created in 2008 is already good and doesn't need growing.

this will happen all over again in about 3 or 4 years when people complain about "whales" having lots of bitcoin while it costs them something like a million bucks to buy 10 bitcoins!

maybe theymos might be amenble to introduce merit-negging for topic starters only. or maybe just for @aminimanish

Someone posted a topic about an article claiming that the "Bitcoin Whales" have been accumulating and increasing their BTC stash post the "Black Thrusday" event. I replied that kind of metric is simply a false comparison. It is comparing a bunch of greedy motherfuckers against the over 90% of people who actually believe that BTC is worth something and hold less than 1 BTC. There is no reliable way of knowing who exactly these whales are but I am pretty sure they are not "wise investors", as one reply in that topic puts it. These are people who chanced upon bitcoin as developers, cryptography enthusiasts, silk road traders or even plain-ass scammers. These people have actually made their wealth from the 1000s of BTC they held while bitcoin went through ATH and present levels.

Some people think that some of these whales must be newcomers interested in technology. There is plenty of evidence that this is not the case. A newcomer whale interested in technology and buying 1000+ BTC post 2016-17 would have been a seminal event and we would have heard about the individual or institution all over the news. Any such recent whale investing on basis of "technology" would put their weight behind the technology and would have put all their effort to make it grow.

How many times have you heard news about VCs, Startup Incubators or other such funding parties come out in the open and declare that "This is the technology of the future and I am investing a Million dollars in it"??Have you?? Give me one example and maybe we would have your "technology" whale. If we had even a few of such individuals, you would be seeing a far more concerted effort towards mainstreaming the technology. You wouldn't have so much misinformation on media because a group of such people would be working towards ensuring that the regulators don't get to take a one-sided view. Nothing of this sort happens. People like you and me talk it out on this forum, one of the last bastions i guess.

Most of those other bastards are doing exactly what the wealthy elites have always been doing. Milking the rest of the people for fiat money while bitcoin is kept propped up by the belief of the >90% that hold less than 1 BTC. That is the sad truth. Right now, this is just another "Rich getting richer" scheme. Maybe I am just ignorant of these technology enthusiasts and am wrong to point out that the whales are little more than the wealthy factory owners in this very communist ecosystem.

What are your thoughts on this?

Do you think there are people out there with the dough and the willingness to make a difference?

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This is basically my rage post against those elusive "Whales". My earlier thoughts weren't like this. I used to think there was a case for Bitcoin champions.