Bitcoin Forum

There has been much ta do about whales and pump groups and the like lately and how they influence the altcoin and even BTC scene. I was discussing with friends the pros and cons of these large scale influential investor/whales/and even pump groups. I'm some case they can bring badly need funds and attention to a new coin or tech. If they enter a coin and help it and leave it in better over all condition when they finally exit I have no issue with them. If they just bast a bunch of BTC up the buy wall for a bust pump and then dump down on all the new investors coming in because of tall the excitement I do have an issue. IMO the best situation would be that they really invest in the development and marketing of they coin that they like and help it build value for the long term. I've heard people also say they are the scourge of the Earth and to never to be dealt with. So with all this I created this poll and ask for comments both for and against. It's is only self moderated for repeated spamming the same comment/view and or abusive language otherwise speak you mind.

I voted #2 as I do believe that is the best realistic outcome from whale type players.  

It is a game, alt currencies exchanges are beyond what you can call high risk investments.. and if you pretend to take alts as stock markets then you have a problem ;)

Bringing in BTC can only be a good thing. You just have to be careful when swimming with the whales.  ;)

Whales can be both destructive and usefully. Like some people there are good one and shit ones. Voted 2

Don't you wonder why it is considered as a fraud on penny-stock ?
Clearly they should be out of here... they are scamming as much as the "other" scammer and completely destabilise a coin in the process...

BTCWhale was the best  ::)

I say #1 as it's pretty much the case.

Whales are a fact of life. Like it or now they are here. I voted #1

lol... I should do poll if you are okay with scam coin and dev running out with people btc...
you would just have to copy and paste your answer

i aslo voted for 2, if you want to kill then just kill shit coins  :P

voted 3 , i have more respect for a pumper that is willing to put some money where his mouth is before hand than alot of those people screaming scam on every premine expecting the devs to make them rich working full time but  living from cornflakes and tab water. then value their own "community work" (posting day and night on a forum ) some big as contribution to the project.
i like to engage in discussions here to but sometimes its painfull to watch. waiting for prom jokes on my sig  ;)

I voted #2 as stated but I am very surprised more wouldn't choose 3. MY thought to as why not was they wouldn't want the whale/pumpers to have any dev influence over the coin.

Cool poll I picked 1. It's the truth they do bring BTC into the markets.

Voted 2 i Have no probs with whales that Help not do pnd scams

Seems like some people are noticing that Bitcoin will not necessarily destroy current institutions. They might change ownership, but the larger amount of wealth will not be redistributed. Whales have been around since the first markets. The notion that should apply "good" or "bad" trading ethics seems strange to me. Trading is always about scoring the most profit at the end of the day and everybody is trading as egoistically as he pleases to. The whole point of crypto is that algorithms are able to set bounds to what people are able to do. Funny how People try to paint the world of crypto black and white. Your decision if the world we are creating will be viewed by you out of a retro-perspective as a dystopia or a utopia.

I don't really have a problem with whales, but I definitely think that they shouldn't be able to dictate the priority of development, the development requirements or the future of the coin..

The first few months of shadow I was completely oblivious to the fact that whales.. The more things progressed, the more people were offering funds to hire extra developers, managers, technical writers, journalists, etc.

The team has obviously grown, and it took me a while to realise I'm no longer able to make decisions on my own, but it seems to be moving forward. I really don't like the delayed open source thing, but I guess you need to protect investments for a bit.

The whales also tend to know allot about other whales, and obviously they've been in the game allot longer than late adopters, so they have very valuable input most of the time.

I would definitely enjoy developing allot more if there wasn't a direct monetary value, and if people didn't care about the price.

Some day people will realise that this is all epic research and experimentation, and that the monetary value is actually curbing the innovation, because they constantly asking are we there yet, and if you miss a deadline or there's a bug or a hack that the developers weren't in control of, the whales can put a massive dent in an entire communities investment.

I would vote for #2.  Some whales are bad.  They just come in and then dump to shit.  But some whales are good.  They leave the coins better off after they're out and after all is said and done, the coin gets more attention, more btc; I mean what's wrong with that?

how much you have to invest in one single alt to be a whale?

Wolong was the best he leave a coin better than it was before he entered
Not like the recents dumper whales

you are referring to pandacoin I guess...  ;D

I bet this is common among the better devs in this community. Ones that are doing it for their enjoyment or their beliefs first. Not for profit, or as some get rich quick scheme.

Interesting that you say that. My opinion of Shadow is that it's either complete bullshit made up by the whales, or they do actually have some hidden genius(supposedly you) who's capable of developing the tech that they're claiming. Reading your post makes me think it's possible they're not full of shit. I'll be interested to see how it all turns out.

What about @manelecrypto on Twitter? That name keeps cropping up.  Real whale but quiet? Close to IconicExpert but not on the same page exactly and they push oppositely sometimes.

I see the whales as a natural element in a chaotic system.   They are movers as much as they are shakers when you get down to it.  I've seen the coordination of whales make some pretty big things happen in this space.  But I've also seen a lot of good people get taken advantage of.

I agree with Ryno almost entirely.   The coupling of a coin project with 'monetary value' will always have some type of affect.    I do however think though that we need to understand that what we are all trying to create here is a better way to harness 'value' whatever that means.  So we must understand the markets come along with it for good or ill.

Also, I think its important to express that 'Whale' is a really subjective term.   Many or even most of us would have, or would be considered 'whales' by a new person to Crypto.   Sometimes we are in the right place at the right time,  Seeing promise is something hardly anyone notices and you turn your measly 1.2 btc into 1.7% of a new and exciting coin prospect.    You just became a whale by being in the right place at the right time.  Imagine the fiscal power it would take to muscle into 1.7% of a high market value coin.   Very few people could do it,  But those that can maybe I would call them whales?

Its a difficult concept, but I am sure I share the same opinion as many of you that I would like to see less of the abuse and manipulation and more progress towards satoshis dream.

All ships will rise!

IMO whales are necessary. They bring big amounts of money to coins that otherwise never would have had the chance at it.

What an impressive post. Speaks well of the kind of developer you are.


In response to the OP's question, I think there are two types of whales.
The first are the opportunists who make profits from natural market movements. I think we should welcome them with open arms.
The second type are those who create coins, generate artificial hype, create pumps, and dumps their holdings before exiting the market. We should be wary of them, because they are capable of destroying cryptocurrency.