o0o0
Legendary
Offline
Activity: 1596
Merit: 1021
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 06:16:22 AM |
|
I have spent the last three days doing block chain investigation to see where bitcoins have been going.
I can't assign identities to these entities, and this is somewhat hazy and open to interpretation as it depends on the disposition of the Silk road seized coins and some other auctioned coins that have not reappeared on the market. Also the entities involved appear to be engaged in "buy, hold, and don't consolidate" - deliberately trying to avoid linking their purchased coins. I'm only about 70% sure that the coins are held by this small set of entities, mainly on the grounds of the purchases being made in a consistent way - similar amounts at repeating times of week in the same marketplaces. One tipoff was that in months that had large 'closed' auctions these patterns were disrupted; several of the pattern buys disappeared altogether, while others (judging by market and purchase timing) bought more apparently to avoid causing sudden changes in the level of market support.
If I'm right there are at least seven "whales" -- which apparently did not exist one year ago -- that probably have each now got about a half million Bitcoin. They have been buying steadily for the last seven or so months, except that they bought a larger total in the months with the closed auctions (assuming it was them who got the closed auctions). They are continuing to buy very steady amounts in $US dollar terms, as the price starts to rally and the amounts of their purchases in Bitcoin start getting lower.
Holy crap that's an awe-inspiring amount of money. But the "noise" of individual and chaotic transactions has been declining relative to these very regular clockwork transactions, and the market has changed character so that it is now increasingly *about* these semi-regular transactions - which appear in the market as flocks of buy orders spread over the course of hours or a day. And when the noise of chaotic transactions did spike with the "bearwhale" incident last month, the patterns were disrupted as these new whales apparently sunk about 2.5 million extra into the market over the following three days.
Someone has been stuffing price stability down our throats whether we want it or not.
I could be wrong about this; I might be seeing something that doesn't mean what I think it means. And I don't know who's doing it. If this were two years ago, or even one, I'd say someone is getting ready to do a massive pump. But whoever this is, they're playing a very large, long-term game - too large to NOT be in the direct eye of regulators - and I don't know whether they intend to cause a massive price spike followed by a dump and risk of jail time for market manipulation, or support a slow steady gain followed by a very carefully structured sell-out that will allow them the two or three years they'd need to reach minimum safe distance (from prosecution) before the market is unsupported.
Can you post the research data you have pointing to the 7 whales and where you draw your conclusions? I think many would find this interesting. I've suspected that there are some big players out there with huge fiat capital and i'm sure they have a plan but exactly what makes me feel uneasy. Is it a mass return to fiat or simply a mechanism they are using to increase BTC holdings to become future bitcoin major players once we get cemented in the bitcoin system worldwide. I hope its not a giant fiat plan for transfer as if there are large amounts like that being planned up i don't think there is enough resistance to absorb all that without burning mass people and putting doubt in bitcoin... lets face it alot of people go for profit and it doesn't need a huge dump to get negativity. I'm thinking its a mechanism to increase BTC holdings and if your 7 whale theory is correct then the 30,000 coin drop was merely a research vessel for whatever else is coming. Maybe it might be worth you publishing this research somewhere on a site that people can follow and contribute to? Knowledge is power.
|
|
|
|
Erdogan
Legendary
Offline
Activity: 1512
Merit: 1005
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 08:47:31 AM |
|
I have spent the last three days doing block chain investigation to see where bitcoins have been going.
I can't assign identities to these entities, and this is somewhat hazy and open to interpretation as it depends on the disposition of the Silk road seized coins and some other auctioned coins that have not reappeared on the market. Also the entities involved appear to be engaged in "buy, hold, and don't consolidate" - deliberately trying to avoid linking their purchased coins. I'm only about 70% sure that the coins are held by this small set of entities, mainly on the grounds of the purchases being made in a consistent way - similar amounts at repeating times of week in the same marketplaces. One tipoff was that in months that had large 'closed' auctions these patterns were disrupted; several of the pattern buys disappeared altogether, while others (judging by market and purchase timing) bought more apparently to avoid causing sudden changes in the level of market support.
If I'm right there are at least seven "whales" -- which apparently did not exist one year ago -- that probably have each now got about a half million Bitcoin. They have been buying steadily for the last seven or so months, except that they bought a larger total in the months with the closed auctions (assuming it was them who got the closed auctions). They are continuing to buy very steady amounts in $US dollar terms, as the price starts to rally and the amounts of their purchases in Bitcoin start getting lower.
Holy crap that's an awe-inspiring amount of money. But the "noise" of individual and chaotic transactions has been declining relative to these very regular clockwork transactions, and the market has changed character so that it is now increasingly *about* these semi-regular transactions - which appear in the market as flocks of buy orders spread over the course of hours or a day. And when the noise of chaotic transactions did spike with the "bearwhale" incident last month, the patterns were disrupted as these new whales apparently sunk about 2.5 million extra into the market over the following three days.
Someone has been stuffing price stability down our throats whether we want it or not.
I could be wrong about this; I might be seeing something that doesn't mean what I think it means. And I don't know who's doing it. If this were two years ago, or even one, I'd say someone is getting ready to do a massive pump. But whoever this is, they're playing a very large, long-term game - too large to NOT be in the direct eye of regulators - and I don't know whether they intend to cause a massive price spike followed by a dump and risk of jail time for market manipulation, or support a slow steady gain followed by a very carefully structured sell-out that will allow them the two or three years they'd need to reach minimum safe distance (from prosecution) before the market is unsupported.
This is great. Now you only need a hero, some courage, some love, some betrayal and a few princesses, and you have the complete novel.
|
|
|
|
CokeCoin
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 235
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 01:51:42 PM |
|
To think that not so long ago I was paid 50 BTC for two hours of work.
That sounds pretty cool, what kind of work, it you don't mind me asking?
|
|
|
|
|
CoinCidental
Legendary
Offline
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 04:46:19 PM |
|
Yes, those ratez lookz finez to Me (licks chops)
|
|
|
|
Cryddit
Legendary
Offline
Activity: 924
Merit: 1132
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 05:27:24 PM |
|
Yes, those ratez lookz finez to Me (licks chops)
Exercise due caution. Places that advertise good rates are a bit more common than places that trade them.
|
|
|
|
Cryddit
Legendary
Offline
Activity: 924
Merit: 1132
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 05:29:11 PM |
|
This is great. Now you only need a hero, some courage, some love, some betrayal and a few princesses, and you have the complete novel.
Laugh. Yes, that would work for the backstory of a good yarn. And I might even be able to sell that one. Maybe I ought to write it, it would promote Bitcoin awareness anyway.
|
|
|
|
fabiola!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 05:44:04 PM |
|
i know ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) plastic means we cant do money oragami ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) . still fiat runs the shops so cant go all in. i believe in bitcoin so stopped at 1/4 total fiat wealth. A little each week should get me a nice overall stake over time. I'm aiming for 200btc. i'd like 1000 btc but i think 200btc is more realistic. That's a lot, well done. I'm a musician so I'll have to wait till my next royalty pay out to go and buy a few more btc. Mining is very slow atm, I'm just getting 1 btc a month I think, terrible! But if I had a "real" job I would be doing the same as you, wages in Ozzieland are so high it's great for you guys. Wages aren't that high it depends on the job. The average wage i think is $74,000 AUD but what they don't tell you is the big earners in mining etc pull the average up alot. Most people i know are in the $50,000 a year range and thats AUD or $46,930 USD... however the housing market isn't that fun price wise. Where i am due to mining a house was $700 a week at one stage. When i lived in brisbane a 2 bedroom apartment was $380 a week. So out of $50k a year thats $20k gone in rent. Add in tax and food etc and i realise others struggle more but its not that fantastic. Mine wage is slightly above the $74k average and as i have no children, wife etc i do have some play money for investments. Bitcoin just happens to be the first one i really believe in. I missed the boat on facebook shares... when they first floated at $30 or so i said over costed... they dropped to $17 and i didn't buy... they are what $74 now? $80 at one stage.... idiot i was. Apple shares when they were $300 i saw the potential... they went to $700 something did i buy when i believed? no.... idiot i was again Global financial crisis i should of went all in on commonwealth bank shares... those were $28... what are they now or rather 2 years after that? $82... idiot i was again Not letting that happen again. I'm following my gut instincts and not losing out again. At the same time though i am quite happy to lose everything that i set aside for it. Fortunes favor the bold. Best thing i think you can do is set aside a weekly amount you won't miss and just keep buying. I do some faucets on the side that whilst yes you get bugger all if i'm gaming or doing computer stuff in my own time i can once an hour spend 10 seconds of my life to type a captcha. I don't do them all as i find alot completely useless... personally i only use btc25.net, freebitco.in and moonbit.co.in . They do good satoshi rates compared to others without having to watch ads etc. Its easy and the return is nice enough. I'm using some of what i get there to pass to friends for free to encourage them to use it. I think everyone should kick a faucet off as a start and use the meager income to promote to others. If you get friends trying decent faucets like i listed they get a taste of btc cause everyone likes free... it gives them a playground to trial it. Once they see its usefulness and freedom they usually want to buy more as faucets can't satisfy their needs past that. I like Brisbane, I spent most of the time around that area + the gold & sunshine coasts. I didn't visit any mining towns but I've heard horror stories about how expensive they are. Sorry that you missed the boat so many times, hopefully you'll be fine this time round! Thanks for all your advice, I will try to acumulate all the btc I can, and I'll try to promote it to as may ppl as possible/pass on the faucets links ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) thanks again!
|
|
|
|
james martin
Newbie
Offline
Activity: 45
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 06:01:46 PM |
|
I don't think....
|
|
|
|
X7
Legendary
Offline
Activity: 1162
Merit: 1009
Let he who is without sin cast the first stone
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 06:48:18 PM |
|
This thread is gentleman.
|
For what shall it profit a man, if he shall gain the world, and lose his own soul?
|
|
|
Dafar
Legendary
Offline
Activity: 1330
Merit: 1000
dafar consulting
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 07:27:09 PM |
|
This thread is gentleman.
Reddit neckbeard confirmed
|
|
|
|
CoinCidental
Legendary
Offline
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 07:54:28 PM |
|
Yes, those ratez lookz finez to Me (licks chops)
Exercise due caution. Places that advertise good rates are a bit more common than places that trade them. The last great rates were at the btcst , 1% a day I think it was lol If you sat down and worked it out, the interest rates would have exceeded 21 million btc in a relatively short time lol Everyone was too greedy too see it until they lost their coins and some people lost a lot ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) There is other hyip scams too but usually only the owner make money from such rates as there will never be enough to repay everyone the paper profits..
|
|
|
|
nor9865
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 07:59:04 PM |
|
Today, some made a nice little profit on their investment (or made back some losses if you haven't sold)
|
|
|
|
QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 08:05:09 PM |
|
http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months. The world just isn't going to be the same and we have been blessed as the pioneers. What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop? What ever happened to you, you little dogs knot? Got yourself stuck into something stupid I'll bet. Maybe someone will be kind enough to throw cold water on you. Hey, did the Texas nihilist suicide squad ever lock you up in a looney bin? Just curious.
|
|
|
|
sphericon
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 11:50:48 PM |
|
Every time this thread reawakens, it seems to be a good sign that a short-term rally has topped.
Quoted for wisdom. Quoted for wisdom.
|
|
|
|
CrazyRabbi
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 12, 2014, 11:55:11 PM |
|
Every time this thread reawakens, it seems to be a good sign that a short-term rally has topped.
Quoted for wisdom. Quoted for wisdom. Quoted for wisdom.
|
|
|
|
Flashman
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 13, 2014, 12:07:16 AM |
|
Every time this thread reawakens, it seems to be a good sign that a short-term rally has topped.
Quoted for wisdom. Quoted for wisdom. Quoted for wisdom. Quoted for post count. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
|
TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins.
|
|
|
BittBurger
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 13, 2014, 12:09:09 AM |
|
I love this thread.
Its my favorite on this website.
But why is it even being bumped right now?
There must be a whole bunch of people who hopped on board in 2013 and 2014 that got in at 290-450 and are excited by this.
Those of us who saw $60 and then $1000 feeel suuuuuuuuuuper bored right now still lol
-B-
|
|
|
|
fabiola!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 13, 2014, 12:09:47 AM |
|
Today, some made a nice little profit on their investment (or made back some losses if you haven't sold)
Quoted so they stop quoting the other one ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) It's pretty true what you say though.
|
|
|
|
keithers
Legendary
Offline
Activity: 1456
Merit: 1001
This is the land of wolves now & you're not a wolf
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
November 13, 2014, 12:28:54 AM |
|
I think all the business development in bitcoin businesses and recent merchant adoption is finally being worked into the current prices. We were sitting stagnant for far too long amidst all the recent adoption...
|
|
|
|
|