Nobody bought into the wall | Bitcointalksearch.org

derpinheimer

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Quote from: johnyj on October 10, 2014, 09:52:50 AM

The 26k sell wall @$300 was put there by a large whale to scare people to sell coin to his 200+ coin buy wall @$299.99, to get more coins cheap. But it seems he could not squeeze out enough panic sellers' coin. So he eventually bought the majority of it back with his other accounts and cancelled the rest

If those coins got eaten by a large whale, then he lost 10000+ coins at low, the operation failed

..what? This is so wrong I don't even. This had been discussed to death. The wall was eaten by regular traders. His intent was to sell ( why is debatable, but he did want to sell them )

And it was 38,000 coins.

johnyj

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Beyond Imagination

The 26k sell wall @$300 was put there by a large whale to scare people to sell coin to his 200+ coin buy wall @$299.99, to get more coins cheap. But it seems he could not squeeze out enough panic sellers' coin. So he eventually bought the majority of it back with his other accounts and cancelled the rest

If those coins got eaten by a large whale, then he lost 10000+ coins at low, the operation failed

serenitys

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Be Here Now

Thank you

I did too. I thought the site was broken because it was this for several hours. I got tired of watching and then the "minnow attack" began. Grin

criptix

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Quote from: serenitys on October 09, 2014, 12:52:00 PM

Speaking of whale and price crashing...I don't, but in the event it ever happens I have a large number of bitcoins, 30k for instance, and I get a great deal on my own island or a castle or a mega business or whatever and want to "cash out" - what is the best way to do that without crashing the price?

Is it just the amount of bitcoins available via the exchanges being bought and sold that make up its price or does the price include/impact bitcoins held in offline wallets? I keep hearing the suggestion to leave it offline so it doesn't affect the price but not sure how that works.

Selling large amounts of bitcoin or higher valued/priced coins for hard assets, real estate, cars, houses, etc. usually can't be done for now directly with bitcoin so it has to be sold and traded back for fiat. Just need the best way to do that so it doesn't cause one of these events.

Thanks

Trades on exchanges are much more visible then OTC trades, but both influence the price to a certain degree.
The best way to sell a large chunk of btc would prolly be a otc trade. You avoid slippage and alot of security risks regarding exchanges.

/edit

i went to bed after the wall shrunk from 26 to 16 k. Cheesy

derpinheimer

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Quote from: hyphymikey on October 09, 2014, 01:13:22 PM

OP fail

Silly bears trying so hard.

TBH I'd consider it bullish if the wall was pulled and not eaten.

hyphymikey

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OP fail

Silly bears trying so hard.

derpinheimer

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Quote from: BitCoinNutJob on October 09, 2014, 01:02:38 PM

Quote from: Dilla on October 09, 2014, 09:03:29 AM

Pretty sure there was a bunch of small buys, then a big 11000btc buy.

Can anyone confirm there was an 11k BTC buy? cant remember seeing that, if so wow someone was really keeping a ton of fiat on bitstamp.

There was not. The largest was a bit over 2.5k. Right around that was another buy around 1.8k or something, so the charts like that may show "4k", but it was actually 2 separate orders.

Here is the spreadsheet that shows all the orders, again: https://docs.google.com/spreadsheets/d/1ZZaXtuRJ_Ppo1_R2UczZSIpyreGjxpUMDsimbPneGq4/pubhtml?gid=928136785&single=true

otto93

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Activity: 216

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Live, Hope, Win

Quote from: BitCoinNutJob on October 09, 2014, 01:02:38 PM

Quote from: Dilla on October 09, 2014, 09:03:29 AM

Pretty sure there was a bunch of small buys, then a big 11000btc buy.

Can anyone confirm there was an 11k BTC buy? cant remember seeing that, if so wow someone was really keeping a ton of fiat on bitstamp.

The chart below shows it was some big buys in a short space of time, not just one 11k BTC buy. It looks like there was a 4.5K buy, a 3K buy, a 1.5K buy, a 1K buy, and loads of other little buys in the last half hour.

http://bitcoincharts.com/charts/bitstampUSD#rg5zig1-minzczsg2014-10-06zeg2014-10-06ztgSzm1g10zm2g25zv

BitCoinNutJob

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Quote from: Dilla on October 09, 2014, 09:03:29 AM

Pretty sure there was a bunch of small buys, then a big 11000btc buy.

Can anyone confirm there was an 11k BTC buy? cant remember seeing that, if so wow someone was really keeping a ton of fiat on bitstamp.

serenitys

full member

Activity: 126

Merit: 101

Be Here Now

Speaking of whale and price crashing...I don't, but in the event it ever happens I have a large number of bitcoins, 30k for instance, and I get a great deal on my own island or a castle or a mega business or whatever and want to "cash out" - what is the best way to do that without crashing the price?

Is it just the amount of bitcoins available via the exchanges being bought and sold that make up its price or does the price include/impact bitcoins held in offline wallets? I keep hearing the suggestion to leave it offline so it doesn't affect the price but not sure how that works.

Selling large amounts of bitcoin or higher valued/priced coins for hard assets, real estate, cars, houses, etc. usually can't be done for now directly with bitcoin so it has to be sold and traded back for fiat. Just need the best way to do that so it doesn't cause one of these events.

Thanks

derpinheimer

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Activity: 896

Merit: 1000

Quote from: piramida on October 09, 2014, 12:31:12 PM

Quote from: wobber on October 09, 2014, 12:27:14 PM

As price increases smaller and smaller walls are needed to confine the price. See those walls at Bitstamp of not even 3k coins that are now in place that are doing a good job at keeping price lower than 385.

the other way to look at it - bearwhales are getting smaller every day, more like bearsharks (3000), and soon get down to bearfish (300) or bearplankton (30).

The problem with this POV is that it leaves the previous whales, such as this guy who sold nearly 40k coins, as equally larger than before. And according to that chart of sumBTC held by largest addresses, they are growing..

So if BTC:USD grows, they grow exponentially larger. Its not the end of the world, but it comes down to whether or not these are people who want to make some money, or want to become trillionaires later in life.

lucky88888

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https://nxtforum.org/

To the guy that sold off nearly 30k btc at 300, Dont be depressed you're still 8million+ dollars rich! Grin

BITCOIN I'M COUNTING ON YOU!!

piramida

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Borsche

Quote from: wobber on October 09, 2014, 12:27:14 PM

As price increases smaller and smaller walls are needed to confine the price. See those walls at Bitstamp of not even 3k coins that are now in place that are doing a good job at keeping price lower than 385.

the other way to look at it - bearwhales are getting smaller every day, more like bearsharks (3000), and soon get down to bearfish (300) or bearplankton (30).

derpinheimer

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Not gonna bother reading all of this, but all ~38,000 coins the seller offered were bought.

~10,000 sold at market, the rest eaten from a wall.

wobber

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As price increases smaller and smaller walls are needed to confine the price. See those walls at Bitstamp of not even 3k coins that are now in place that are doing a good job at keeping price lower than 385.

serenitys

full member

Activity: 126

Merit: 101

Be Here Now

I bought at 325 and 350 so I got a little taste of whale meat too. My first whale. I wanted it to drop under 300s but had it pointed out that the 200s would be more of a loss of faith number and after giving that some thought I had to agree it made sense. Clearly so since it shot up to 390 already. I'll still buy up to 425 though so it's nice to see.

Ohhhh bitcoin! Grin

piramida

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Borsche

Even if he managed to pull some part of that wall, he still should be feeling rather played now that the price is breaking 400 just two days later.

otto93

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Quote from: wobber on October 09, 2014, 07:15:19 AM

https://www.youtube.com/watch?v=-uX_bB_4VJk&feature=youtu.be

I can see in the vid that Bitstamp starts with 2500 BTC volume and ends with 15,000. The wall was about 26k? So the wall was pulled before all coins we're sold...

You cannot calculate the total bitcoins sold by adding up only two of the numerous volume bars of a 6 hour sale. The vid screenshot below clearly shows there are more than two volume bars. There are hundreds of volume bars shown during the course of the video.

jaredboice

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Quote from: wobber on October 09, 2014, 07:15:19 AM

https://www.youtube.com/watch?v=-uX_bB_4VJk&feature=youtu.be

I can see in the vid that Bitstamp starts with 2500 BTC volume and ends with 15,000. The wall was about 26k? So the wall was pulled before all coins we're sold...

All I know is I got me some bits at $300. Whether the seller bought up his own coins or not, he gifted me a cut of the stash!

nanobrain

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Dumb broad

This place gets weirder by the day.
Personally, I hear the wall was skewered by a unicorn controlled by the CIA.

Topic: Nobody bought into the wall (Read 2783 times)