Topic: Theory regarding the 10K Bitstamp wall. (Read 2901 times)
Question is, are 6 million us dollar not enough? Why must he fear others to steal their coins? Greed greed.
Whale obviously got bored and just dumped his last 5000 BTC.
Obviously he is quite insensitive to whether he gets full value for these Bitcoins and/or doesn't think it would be a good idea to hold out for better prices.
I wonder if/when he will be back with another 10K Stolen/auctioned/Gox'd BTC.
3 million USD worth of $580 coins sold, quite possibly about to become 5000K of fresh bagholder coin. 3 Million of liquidity eaten up between $570 - $514 with no reason to believe that he or someone just like him, won't be back for more fun later on.
This is extremely bullish for Bitcoin, apparently.
because billyjoeallen said so.
Obviously he is quite insensitive to whether he gets full value for these Bitcoins and/or doesn't think it would be a good idea to hold out for better prices.
I wonder if/when he will be back with another 10K Stolen/auctioned/Gox'd BTC.
3 million USD worth of $580 coins sold, quite possibly about to become 5000K of fresh bagholder coin. 3 Million of liquidity eaten up between $570 - $514 with no reason to believe that he or someone just like him, won't be back for more fun later on.
This is extremely bullish for Bitcoin, apparently.
because billyjoeallen said so.
Any exchange can fake transactions and that's the reason trade system should be open source or at least have a transparent trade auditing engine...
Are you referring to bitstamps wall? Nothing about it seems fake.
No I am not putting a finger in anyone, but if you control the exchange source code, you control everything ... for example ... you recive the orders buy/sell from a client, then you will add kind of timestamp and pass it to match engine (lets say priority based on price and time logic) .. so you store it in an array ...
Code:
class ArrayContainer
{
class Order
{}
static void Main(string[] args)
{
//Create orders
Order order1 = new Order();
Order order2 = new Order();
Order order3 = new Order();
//Declare array of order type
//and add the above three order instance
Order[] orderList = { order1,order2,order3};
//Access the order
Order curOrder = orderList[1] as Order;
}
}
{
class Order
{}
static void Main(string[] args)
{
//Create orders
Order order1 = new Order();
Order order2 = new Order();
Order order3 = new Order();
//Declare array of order type
//and add the above three order instance
Order[] orderList = { order1,order2,order3};
//Access the order
Order curOrder = orderList[1] as Order;
}
}
You just need to inject your own set of data ... I'm really made an oversimplification to the problem but my point is... without a proper audit engine you must need to trust the exchange A,B, C & Z ... In stoke exchange for example there are independent authorities to do that job... (off course you need to trust then as well, never end history )
Could be coins from bitcoinbuilder transactions.
.............and people have started selling as low as $556 to bypass the 'great wall'
Any exchange can fake transactions and that's the reason trade system should be open source or at least have a transparent trade auditing engine...
Are you referring to bitstamps wall? Nothing about it seems fake.
Any exchange can fake transactions and that's the reason trade system should be open source or at least have a transparent trade auditing engine...
they could be Chinese coins too
Well, obviously somebody who wanted to say 10k BTC quickly and did not care about maximizing the profit. likely somebody locking in huge gains anyway, imho.
Anything else is pure guessing - we can as well use tea leaves to try to answer whether it was an Mt Gox insider ...
Anything else is pure guessing - we can as well use tea leaves to try to answer whether it was an Mt Gox insider ...
I hope that happens. It's unbelievable the prices remains so high so long. In April bubble prices crashed to $50-$70 at least 8 times. However this time the price is v stubborn with no real chance of cheap coins other than flash crashes that no one gets to buy into
Because Bitcoinland is about the dumbest market on earth, price will probs spike in aftermath.
Already read loads of comments on here about this showing how 'strong' the market is and how it is therefore bullish.
But that there is 6 million USD of liquidity being taken out the market on Stamp alone.
6 Millions USD to keep the price at $779.34 for a few hours....mostly by automated bot buy-ins. (wonders what bot masters will make of it when they find out)
Methinks I shall now go to bed leaving my shorts open with no stop loss.
Whoever it is, but he is successfully selling all those coins rapidly. The wall volume is already at only 5800 now.
Yep.....had he sold them the 'traditional way' he would have crashed market for sure.
....now the market will crash after he is out, all the liquidity is dried up, and bots realise they are holding a big pile of expensive coin.
I hope that happens. It's unbelievable the prices remains so high so long. In April bubble prices crashed to $50-$70 at least 8 times. However this time the price is v stubborn with no real chance of cheap coins other than flash crashes that no one gets to buy into
Whoever it is, but he is successfully selling all those coins rapidly. The wall volume is already at only 5800 now.
Repetilia
Whoever it is, but he is successfully selling all those coins rapidly. The wall volume is already at only 5800 now.
Yep.....had he sold them the 'traditional way' he would have crashed market for sure.
....now the market will crash after he is out, all the liquidity is dried up, and bots realise they are holding a big pile of expensive coin.
Whoever it is, but he is successfully selling all those coins rapidly. The wall volume is already at only 5800 now.
ELI5 how this works with the liquidity on BFX, we are about 4 dollars over the wall. we cannot buy into it, if he suddenly unloads how much of the BFX order book gets taken out .... ?
The wall is too conspicuous to be a part of any strategy let alone a smart one. Somebody may have just wanted a mansion and being the nice early adopter he is selling all his coins a bit below market price to not cause panic
You obviously haven't been paying much attention old boy!
He has sold over 4000 BTC at the spot price of when he placed his 10K order!
Who gets to sell 4000 BTC at spot price FFS?
The wall is too conspicuous to be a part of any strategy let alone a smart one. Somebody may have just wanted a mansion and being the nice early adopter he is selling all his coins a bit below market price to not cause panic
wow a real wall. i havent seen this since july on gox. it loiks like stamp is finally growing up into a major exchange, to replace gox. great. i guess that needs to start with some goxcoins though. now when will we start to see bidwalls like this?
Sounds like a very reasonable explanation. He is definitely getting a nice return with his strategy. My own feeling is that several of these massive dumps over the past 48 hours are gox insiders getting out.
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