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Author Topic: Who is a Bitcoin whale?  (Read 8119 times)
cryptotipz
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June 17, 2015, 04:47:38 PM
 #1

Just wanted to get thoughts and do sort of a survey..

In your opinion, who fits the description Bitcoin Whale? Who's eligible to be called a mini whale?

Responses appreciated Smiley

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June 17, 2015, 05:37:32 PM
 #2

Mega early adopters or already fiat millonaires with 100000+ BTC can move markets at will, specially under cooperation. They can rig the market if they all act in sync, thats why we need price crashes, to scare all those lucky individuals holding too much money and spread out the wealth across individuals.

I think a miniwhale is anyone with more than 1000 BTC. Alone can't do much, but a group of them can set trends.
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June 17, 2015, 05:38:40 PM
 #3

Mega early adopters or already fiat millonaires with 100000+ BTC can move markets at will, specially under cooperation. They can rig the market if they all act in sync, thats why we need price crashes, to scare all those lucky individuals holding too much money and spread out the wealth across individuals.

I think a miniwhale is anyone with more than 1000 BTC. Alone can't do much, but a group of them can set trends.

I know a few people with over a 1000 coins, I've seen them start a 5-10% downtrend on Bitfinex with 4x margin back when that was available.
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June 17, 2015, 06:44:04 PM
 #4

Mega early adopters or already fiat millonaires with 100000+ BTC can move markets at will, specially under cooperation. They can rig the market if they all act in sync, thats why we need price crashes, to scare all those lucky individuals holding too much money and spread out the wealth across individuals.

I think a miniwhale is anyone with more than 1000 BTC. Alone can't do much, but a group of them can set trends.

I know a few people with over a 1000 coins, I've seen them start a 5-10% downtrend on Bitfinex with 4x margin back when that was available.

Are they forum posters? The only people in here that have admited to have 1000+ coins as far as I remember are rpietila and the main devs. I think Andreas said that he "doesn't how that many Bitcoins" but has never revealed his wallet.
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June 17, 2015, 07:13:05 PM
 #5

i read about BCX that admitted that he had 5k bitcoin, i don't know if that true but it should be considered

also there was one early adopter here with over 200k bitcoin, i remember his story about police bursting into his home, i can't find the original topic, it was from 2011
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June 17, 2015, 07:45:38 PM
 #6

who fits a bitcoin whale?

most likely are the ones who run and offer services to the bitcoin community. eg: coinbase, primedice, the twins recent exchange thats about to launch.

Those are all whales.

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June 17, 2015, 08:12:34 PM
 #7


I think Andreas said that he "doesn't how that many Bitcoins" but has never revealed his wallet.


He said he came along in 2011 so the super early gains are unlikely. I think I've heard him mention having 100 something coins but I might have imagined it.

i read about BCX that admitted that he had 5k bitcoin, i don't know if that true but it should be considered

also there was one early adopter here with over 200k bitcoin, i remember his story about police bursting into his home, i can't find the original topic, it was from 2011

That might've been Knightmb. There was some weirdness about Bob Dole's tax records or something related to that raid. At one point he said he had 371,000 coins but has given them away. Er, ok.

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June 17, 2015, 08:41:05 PM
 #8


I think Andreas said that he "doesn't how that many Bitcoins" but has never revealed his wallet.


He said he came along in 2011 so the super early gains are unlikely. I think I've heard him mention having 100 something coins but I might have imagined it.

i read about BCX that admitted that he had 5k bitcoin, i don't know if that true but it should be considered

also there was one early adopter here with over 200k bitcoin, i remember his story about police bursting into his home, i can't find the original topic, it was from 2011

That might've been Knightmb. There was some weirdness about Bob Dole's tax records or something related to that raid. At one point he said he had 371,000 coins but has given them away. Er, ok.


Thats what I would call a serious whale Shocked Although I think nobody can keep themselves from selling a massive portion during the various price peaks on the way to this point. No way he still has such a number, probably he is swimming in fiat now..
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June 17, 2015, 10:24:00 PM
 #9

It all depends on what definition of Whale you have. Some people could say that whale is someone who owns 1000 BTC. Others may say that we need 100.000 BTC to be called a whale.
I did not find any firm and clear definition of what whale really is. Of course the biggest bitcoin services could be called a major whales too. Leading exchanges or bitcoin casinos...
But we are not gonna present you a clear answer Op, because there isn't any.




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June 18, 2015, 06:20:26 AM
 #10

For me a whale is a something can change the price and change the people to panic mode xD
Some one have 10000+btc if he/she can't turn people to panic mode, I think he/she is not a whale.
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June 18, 2015, 07:44:15 AM
 #11

For me a whale is a something can change the price and change the people to panic mode xD
Some one have 10000+btc if he/she can't turn people to panic mode, I think he/she is not a whale.
IMO a whale is someone who has a lot of fiat or bitcoin, can pump up and dump down the price, influence the market sentiment etc. Some things like this often are on the news, some whale are to launch a hot bitcoin related products, like Winklevoss Twins, or some whales predict bitcoin doomsday and sell a large portion of his bitcoin stash.

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June 18, 2015, 08:36:43 AM
 #12

Just wanted to get thoughts and do sort of a survey..

In your opinion, who fits the description Bitcoin Whale? Who's eligible to be called a mini whale?

Responses appreciated Smiley

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A bitcoin whale is generally a person who holds a huge amount of bitcoin and if he decides to pump it in the market, it could have some effect on the price of the bitcoin, any person holding upwards of 50,000 bitcoin can be called as a whale, since those bitcoins can be used to create a small wave in the price of bitcoin when traded in an exchange.

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June 18, 2015, 11:03:44 AM
 #13

I think the bitcoin whales is not some one but some company.
The exchange may be the most possibilty the bitcoin whales.
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June 18, 2015, 11:14:08 AM
 #14


The exchange may be the most possibilty the bitcoin whales.


This is a very good point. At this moment in time no laws are being broken by exchanges who rig the market or front run trades. As long as they spit out coins and fiat there's no reason for them not to use customers funds either.

They do have an incentive not to as if it ever emerged they'd lose customers very rapidly, but I'm not sure a few exchange operators think that strategically.

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June 18, 2015, 11:24:30 AM
 #15

I see Bitcasino.io has 63 900 BTC in Slot Jackpots. Do they physically have those coins or do they just offer that amount of coins, when people win these jackpots at different times?
It would be interesting, if someone could quote statistics on price movement on exchanges for the different amounts.
A whale should be someone, who can move the price of Bitcoin when he/she sells their coins. If that is the case, you are defined as a whale in my books. 


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June 18, 2015, 12:38:11 PM
 #16

Bitcoin Whale: Have 100,000 BTC + holdings

Bitcoin Mini Whale, Dolphin whatever LOL: Have 20,000 BTC + holdings.

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June 18, 2015, 04:50:20 PM
 #17

Just wanted to get thoughts and do sort of a survey..

In your opinion, who fits the description Bitcoin Whale? Who's eligible to be called a mini whale?

We could apply sociology here and use some income inequality metric, e.g. share of top holders. Thereby we could consider as whales those Bitcoin holders who make up the top decile (10%) of all individual Bitcoin wallets (ordered by size). Thence, mini whales will constitute the next decile after the top one, and so on...



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June 18, 2015, 05:06:40 PM
 #18

Bitcoin Whale: Have 100,000 BTC + holdings

Bitcoin Mini Whale, Dolphin whatever LOL: Have 20,000 BTC + holdings.

there is also satoshi who is holding the most of any whale, what you consider him a super whale? or just The whale?

there were also, in the past big whales(bigger than 100k) who lost their coins, because of their incompetence
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June 18, 2015, 05:43:40 PM
 #19

Bitcoin Whale: Have 100,000 BTC + holdings

Bitcoin Mini Whale, Dolphin whatever LOL: Have 20,000 BTC + holdings.

there is also satoshi who is holding the most of any whale, what you consider him a super whale? or just The whale?

there were also, in the past big whales(bigger than 100k) who lost their coins, because of their incompetence

How do you know how much satoshi is holding? because of the same addresses that never moved any money?
I would consider all that money gone. If he wanted to do something with it, he would have done so already. Im starting to believe that either satoshi lost control of the coins somehow and now they are frozen forever, or satoshi is dead. I don't believe anyone can fight the temptation to have tons of millions and do nothing without them for so many years now.
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June 18, 2015, 06:21:23 PM
 #20

Bitcoin Whale: Have 100,000 BTC + holdings

Bitcoin Mini Whale, Dolphin whatever LOL: Have 20,000 BTC + holdings.

there is also satoshi who is holding the most of any whale, what you consider him a super whale? or just The whale?

there were also, in the past big whales(bigger than 100k) who lost their coins, because of their incompetence

How do you know how much satoshi is holding? because of the same addresses that never moved any money?
I would consider all that money gone. If he wanted to do something with it, he would have done so already. Im starting to believe that either satoshi lost control of the coins somehow and now they are frozen forever, or satoshi is dead. I don't believe anyone can fight the temptation to have tons of millions and do nothing without them for so many years now.

Or the NSA created bitcoin as a social experiment on the practicality of a decentralised financial system.

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