Bitcoin Forum

One day ago, i used 152.9 BTC to purchase 8266 ETH in a single transaction. Since then price has gone up a good bit, however, my order is still pending...

I would like to understand how things work a little better, my questions are...


1) how long do larger transactions take? so far ive waited over 24 hours, ive noticed smaller transactions are way quicker

2) did i capture price at time of buy?

3) is it better to break down my transaction by doing 10 smaller ones that equal 1 big buy?

4) how do whales trade massive amounts?

The size alone is not important, the question is how high a fee per byte you pay.


I dont know, that depends on who poloniex works. I always had the impression that you need to deposit before you can trade. Which would imply that you have not yet traded.


No.


If you transfer >50k USD, pay the few cents fee.

Sounds like the price rose before your order went through. Your order is still sitting on the book waiting to be fulfilled. Poloniex will tell you with a box whether the trade was successful and it's pretty much instant regardless of how large it is depending on whether someone else sold the amount of coins you wanted at the price you wanted.

I have made many trades, most were smaller amounts, this is my largest one yet. I just want to know why it takes so long? doesnt make sense to me.

https://i.imgur.com/oY08pzB.png (https://i.imgur.com/oY08pzB.png)

wow OP that is too large amount, if its still on a pending status which means that the transaction did not push thru? I'm just a new in this kind of trading what will happen to OP's order if the price of eth went down does he will lose as well if the pending went thru after the price went down? sorry OP I just want to know the consequence of your trade.

because you placed a buy order lower than the market price so somebody has to sell their ETH at 0.01849940BTC in order to fill your order. and since they price has gone up (~0.02BTC) nobody is going to sell it at that price.
if you want to buy immediately look at the sell orderbook and buy from those.

^This
You placed an order at a price per coin that is well below market price, so it's sitting in the order book as an open order because no one is willing to sell coins at that price. If you want to buy immediately you need to be willing to pay more per coin. That's how markets work.

To "fix" this, cancel the order and place a new buy at market price. ...or wait. If you let the open order sit there and the price of ETH drops to the price in your order it will be executed.

Wow that's a big buy!  Must be nice to have that kind of scratch to speculate with.  Hope it works out for you, my dear whale.