Woah its getting too deep in here. These are just stop loss and trigger orders with bitfinex or bots. There was a 6000btc dump just the other day too.
eh wot!?
What kind of Stop-Loss buys in 3000 BTC causing a market spike to non-maintainable highs?
I have witnessed the rancid (and probably fraudulent) market sweeps where a few hundred coins are dumped followed instantly by a few hundred coins purchased, triggering a big bunch of orders and effectively stealing coins and/or USD from market players. This buying surge just wasn't that kind of activity.
Or do I seriously lack some kind of market understanding here?
Woah, steady on! I bought around that level too! Bitcoins may drop a little but longer term the bull still looks like its in good shape to me.
You are buying just a handful of Bitcoins.
This person (yup, probably just one single entity here) bought about 3000K BTC. Now, if someone is looking to make a long term investment with a 2.5 Million USD ball of capital, he isn't going to be chomping at the bit at his computer waiting for his funds to clear at the exchange before just jumping right in. Over the past few days, there has been much better buying opportunities for someone looking at investing that kind of volume all in one go and actually, there were better opportunities even just today. Like the 820 - 836 mass whale buy in, this buy in itself was the top of the market, which makes it a fucking shocking bit of business, even if this time next year Bitcoin is at 5K.
I don't know, perhaps in the Bitcoin pond there is a different category of multi-millionaire swimming around, with zero business acumen and who isn't that bothered about winning or losing. Perhaps this was done to try and give Bitcoin some sort of boost on the back of the NY hearings, perhaps hoping that the great Bitcoin supporting public just chomping at the bit for a bit of positive market action would pile in right behind him. It was a very very strange an inexplicable piece of market action......and it cost me.
@sgbett.
Good post and credit to you for getting in and taking the risk for something in which you believed was the future, back at a time when Bitcoin did seem like a renegade anarchistic innovation that just might help free the people from bankster oppression. Obviously it has paid off for you. Of course, if you were a bit more of a market player you could have done a lot better for yourself than you have although that may all seem immaterial now after you having witnessed 50000% of upside. But that was then and this is now. No fucking way is Bitcoin going to see anything like the same growth that the early adopters have been treated to, yet all you early adopters are still religiously and forcibly preaching the same advice on everyone; Namely, 'buy and hold as much as you can regardless of price, because whatever you buy will be worth ten times that amount in no time at all'. All well and good for you guys, but what if the advice you dish out to newbs on this forum turns out to be wrong? Where would I be now if I caved into the scoffing and derision I got on here when I stated that I was selling $1100 range Bitcoins at a loss in $1000 dollar range?
Here is the rub from my point of view.
Bitcoin can no longer be viewed as an anarchistic or liberalising techno venture. Bitcoin is not anonymous. I can still see a 366 Bitcoin transaction (it wasn't that much in GBP back when it was made) to my old SR1 wallet. This is in the blockchain forever. Anyone with access to information linking my Intersango account to my identity (very easily done) can soon start to piece together my financial activity in Bitcoin. Perhaps this is still generally a bit of a pain in the arse for state intelligence agencies but I am pretty sure that if The Man is to welcome Bitcoin into the fold, then there are 101 innovative measures that can be taken to take all anonymity out of Bitcoin transactions. Perhaps Bitcoin is the prototype for the great beast's global currency. Perhaps Bitcoin will itself be transformed into it.
As for its valuation. If it is true that less than 5% of all Bitcoins are regularly transacted and just 49 whales own more than half of all Bitcoins in the world today.
Bitcoin is a fucking shockingly cornered market which has undoubtedly played a massive role in the meteoric rise of its price as determined on a handful of shady exchanges run largely by crooks. This a market where individual entities, who in the grander scheme of things may even be considered as pipsqueeks, have the power to absolutely destroy all your purchasing power. Perhaps some of the whales genuinely want to see Bitcoin succeed out of ideological reasons. Perhaps some are awaiting the chance to cash in on riches of avarice beyond their wildest dreams. Perhaps there are entities now in this market who intend to destroy it. Whatever the complexities of the reality out there are, this whole market hangs on the end of just a relative handful of strings that lead back to just a relative few hands, yet you early adopter luckers keep barking out the same old mantra and paradigms from 2-3 years ago.
Perhaps things have changed? Perhaps someone 'buying in and holding at these bargain prices' is not going to see multiple profits in the coming months, but multiple losses, or who knows, perhaps even get wiped out altogether?
Bitcoin right now, is a very dangerous financial playground. I am in it, because I am looking for that clear long opportunity but I just don't see it coming at this point in time. Therefore, unlike yourself on the bear trend down from $32 - $2, I refuse to invest and hold on the longside until I either feel the bottom is in and the trend has reversed, or their is such a bloodbath that any coins that are purchased will either prove to be the biggest waste of capital in a lifetime, or an investment of a lifetime.
Wow. Great post, actually. What happened to foam at the mouth retardo shorting Mat?
Anyway. Two remarks.
re: anonymity. You're right, that, on average, anonymity will probably vanish. But tumblers (or similar methods) will be to Bitcoin what Tor is to the Internet as a whole.
re: bad advice from early adopters. You got a point there, but it's pretty damn difficult to say if it's a good point yet. Every. Damn. Time. guys like you came out of the wood work saying "this time, it's different. buy and hold simply doesn't cut it anymore. the time of the big returns is over." And every. single. damn. time they were proven wrong.
True, you won't capture the entirety (by definition) of growth if you buy in now, but even if BTC tops out at 10k (something which a lot of people would at least consider possible), that's a god damn
12 fold increase.
Keep your point in mind, and come back if, in 1 or 2 years from now, we still didn't get to a new ATH.
possibly calm before the storm! 
