ETH BUBBLE IS OVER BTC BEING TAKEN OUT OF POLONIEX

[eddie13]

Polo still has over 57k BTC 24hr volume right now.. It doesn't really matter what the price is for them, they are making an absolute killing off of ETH in trade fees..

[galdur]

"Adoption-adjusted Market Caps" It´s an eye opener for sure. The question for the future is which of it won´t remain overpriced and largely useless dust.

[RoommateAgreement]

Polo still has over 57k BTC 24hr volume right now.. It doesn't really matter what the price is for them, they are making an absolute killing off of ETH in trade fees..

i agree, if exchangers are not pulling mtgox then they don't care about these things because they are taking a lot of fees on each trade that takes place on their website.

[Gillette]

Yeah, this shitty premined ETH is dying!

[Nxtblg]

Yeah, and there are other wondercoins that have pooped up lately and are being valued in the hundreds of millions of dollars presently. It seems to be pump and dump season.

In spades.   Yobit even started that whole IOU thing with Lisk, as if there weren't enough coins to speculate with.  Eth rose too high too fast anyway.

True. If you're a contrary-opinion type, you can mark down the Yobit IOU-Lisk maneuver as the moment when the markets became too pump-addled to be sustainable.

[Nxtblg]

Great fact-checking, by the way.

[jacobmayes94]

I will admit, I jumped on the mining bandwagon and made some money out of it... Would have been a fool not to... I will keep mining it for a while and see where it goes, but not sell yet. I am hoping it finds a good usecase, but it so sounded like a pump and dump. GPUs are  still pretty much worth what I paid for them too.

[synthgauge]

All those multisig destination addresses that have neat bundles of 5k coins in them, they belong to Poloniex.
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
38uEUzAbWBKduMJW4swyt2qbZoSZFBzV6i
3LPfVTknzT7FE4y4szU5wuLiNsE6MZQZA9
3LGDmZdFARee5zrvSay7juRHjvrDHjKwiL
3Jar2U9ZMwHr2eYDQP56tpczXG5W6jQtQ1
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
33pGeaghJeHZuGbjEeraDERzYVbMeeKSKw
344pUP56enuGjbPdyubYEqoxB6VaFmD1Md
many more....

How do u know these are poloniex wallets and not someone's local wallets?

- A single customer withdrew well over $17 million USD from polo

Could be entity, hedge fund, or any sort of incarnate moneymaker or being seeking ways to lock in huge bitcoin in a "personal" multisig wallet.

- Poloniex is moving some coins to multi-sig addresses. (Notice the old cold storage was single and the new are multi-sig)

Thats right, multisig addresses start with 3. Its possible that poloniex has gone to a precaution of chopping up the funds for securely storing them in multiple multi-sig wallets. Whats unclear is why they only resorted to that measure after the pump had ended, not before.

[poochpocket]

All those multisig destination addresses that have neat bundles of 5k coins in them, they belong to Poloniex.
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
38uEUzAbWBKduMJW4swyt2qbZoSZFBzV6i
3LPfVTknzT7FE4y4szU5wuLiNsE6MZQZA9
3LGDmZdFARee5zrvSay7juRHjvrDHjKwiL
3Jar2U9ZMwHr2eYDQP56tpczXG5W6jQtQ1
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
33pGeaghJeHZuGbjEeraDERzYVbMeeKSKw
344pUP56enuGjbPdyubYEqoxB6VaFmD1Md
many more....

How do u know these are poloniex wallets and not someone's local wallets?

Those 8 addresses alone total $16.8 million USD. That's just the few I listed, there are many-many more like that, all with perfect 5k BTC chunks in them.
What do you think is most plausible:
 - A single customer withdrew well over $17 million USD from polo
 - More than 8 different customers each withdrew exactly 5k BTC each (~$2 million USD)
 - Poloniex is moving some coins to multi-sig addresses. (Notice the old cold storage was single and the new are multi-sig)

Could be entity, hedge fund, or any sort of incarnate moneymaker or being seeking ways to lock in huge bitcoin in a "personal" multisig wallet.

That swing represents 85% of polo's cold storage, 70,000 BTC or $29,400,000 USD. Do you really believe that much BTC could have been the deposits of a single account? Where are the deposits of all the other customers? And look at the ETH cold storage balance, that has barely moved. Wouldn't you think that if nearly $30 million USD left polo the ETH balance would have been affected?

[vlom]

People are moving into VIPTOKENS and DECRED.

Decred price is very low now, i think anyone want to invest, the time is right now for that.

Everything is low now.  All of them.  I see the market cap is down to 7billion - it has been riding the 8billion market cap for awhile.  Interesting movement what does it mean?

ltc is still stable. so not every coin is down.

[cryptomann420]

l would really like to believe that the way the price and orders change so fast that all those buys and sells are legit! I think a group has come up with the best auto trading bots anyone has seen! Some one or group is making a killing and now its time to reap the profits!! Those withdrawals are CRAZY LOL Come on over 50,000 btc in volume everyday?

[Rune]

Looking back on all the volume polo got I can't believe BTC-E never added ethereum like why.
can anyone explain this to me I just don't get it do they not like money.

[synthgauge]

All those multisig destination addresses that have neat bundles of 5k coins in them, they belong to Poloniex.
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
38uEUzAbWBKduMJW4swyt2qbZoSZFBzV6i
3LPfVTknzT7FE4y4szU5wuLiNsE6MZQZA9
3LGDmZdFARee5zrvSay7juRHjvrDHjKwiL
3Jar2U9ZMwHr2eYDQP56tpczXG5W6jQtQ1
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
33pGeaghJeHZuGbjEeraDERzYVbMeeKSKw
344pUP56enuGjbPdyubYEqoxB6VaFmD1Md
many more....

How do u know these are poloniex wallets and not someone's local wallets?

Those 8 addresses alone total $16.8 million USD. That's just the few I listed, there are many-many more like that, all with perfect 5k BTC chunks in them.
What do you think is most plausible:
 - A single customer withdrew well over $17 million USD from polo
 - More than 8 different customers each withdrew exactly 5k BTC each (~$2 million USD)
 - Poloniex is moving some coins to multi-sig addresses. (Notice the old cold storage was single and the new are multi-sig)

Could be entity, hedge fund, or any sort of incarnate moneymaker or being seeking ways to lock in huge bitcoin in a "personal" multisig wallet.

That swing represents 85% of polo's cold storage, 70,000 BTC or $29,400,000 USD. Do you really believe that much BTC could have been the deposits of a single account?

Yes.

Where are the deposits of all the other customers?

Still on poloniex. ~15% according to ur own calculations.

And look at the ETH cold storage balance, that has barely moved. Wouldn't you think that if nearly $30 million USD left polo the ETH balance would have been affected?

It has already been affected in a positive way. A yummy lump sum of ethers could soon be on its way from poloniex. Here is why.

[sanadas]

People are moving into VIPTOKENS and DECRED.

But the Decred price is also dropping. In fact most of the altcoin price has dropped a lot, including Monero and Dash.

[synthgauge]

People are moving into VIPTOKENS and DECRED.

But the Decred price is also dropping. In fact most of the altcoin price has dropped a lot, including Monero and Dash.

Eths sucking a lot of money thats why alts creeping down. Happens every time eth dips, then back to norm.

[jeremy grol]

People are moving into VIPTOKENS and DECRED.

But the Decred price is also dropping. In fact most of the altcoin price has dropped a lot, including Monero and Dash.

True, also decred dropped. Many will tell that this is the right time to invest.
I prefer to wait to see where those drops are headed.

[cryptojacko]

was only a matter of time before ETH began to correct.  Hopefully it goes low enough that it makes sense buying some to hold on to for a long time.

[poochpocket]

All those multisig destination addresses that have neat bundles of 5k coins in them, they belong to Poloniex.
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
38uEUzAbWBKduMJW4swyt2qbZoSZFBzV6i
3LPfVTknzT7FE4y4szU5wuLiNsE6MZQZA9
3LGDmZdFARee5zrvSay7juRHjvrDHjKwiL
3Jar2U9ZMwHr2eYDQP56tpczXG5W6jQtQ1
3K6LdP3sQyZwvjv5nrUpxdLe5vdAmHroKW
33pGeaghJeHZuGbjEeraDERzYVbMeeKSKw
344pUP56enuGjbPdyubYEqoxB6VaFmD1Md
many more....

How do u know these are poloniex wallets and not someone's local wallets?

Those 8 addresses alone total $16.8 million USD. That's just the few I listed, there are many-many more like that, all with perfect 5k BTC chunks in them.
What do you think is most plausible:
 - A single customer withdrew well over $17 million USD from polo
 - More than 8 different customers each withdrew exactly 5k BTC each (~$2 million USD)
 - Poloniex is moving some coins to multi-sig addresses. (Notice the old cold storage was single and the new are multi-sig)

Could be entity, hedge fund, or any sort of incarnate moneymaker or being seeking ways to lock in huge bitcoin in a "personal" multisig wallet.

That swing represents 85% of polo's cold storage, 70,000 BTC or $29,400,000 USD. Do you really believe that much BTC could have been the deposits of a single account?

Yes.

Where are the deposits of all the other customers?

Still on poloniex. ~15% according to ur own calculations.

And look at the ETH cold storage balance, that has barely moved. Wouldn't you think that if nearly $30 million USD left polo the ETH balance would have been affected?

It has already been affected in a positive way. A yummy lump sum of ethers could soon be on its way from poloniex. Here is why.

I'd like to meet this imaginary person who deposits $29,400,000 USD on Poloniex. I prefer the simplest explanation.

[sanadas]

was only a matter of time before ETH began to correct.  Hopefully it goes low enough that it makes sense buying some to hold on to for a long time.

It is in the correction phase now. If the price stays around 0.018 to 0.022 for the next few months, it is good.

[NUFCrichard]

But the traded volume is still pretty high.  It could be that Poloniex are splittng their wallets, or moving them into trezors or cold storage.

I do thing the main pump phase of the ETH rise is over, the next phase will be interesting, I expect some of the lesser Alts will shrink and die, I am not sad about that!