Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[NotLambchop]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.

It's bearish only in the sense that it invalidates all the "big players are paying premium prices, buying OTC to avoid slippage."

Only if it sells..

Actually, just the opposite.  The wall being bought would mean that big players do want to buy large quantities without slippage.

Seriously. I´m sure all of the big players that are interested in buying huge chunks have 10 Mio+ laying around on Bitstamp (and on every other exchange to be sure) sitting in front of their computer24/7, just in case someone puts up a 30k BTC wall... And it´s weekend btw.
That wall has been around for a few hours on a Sunday. we´ll see how much longer it stays.

You trade large amounts without your cell ringing when the price hits your mark?
And you think it's some minnow risking 27k coin on a Sunday?

[criptix]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

to have 10 million $ on one exchange is nearly as smart as having 30.000 btc on one exchange lmao  

yeah true.  so stupid.

it has to be either Nejc Kodric or someone very close to him.

let's put it this way

if you had about 400g's to sink into internet funny money 2 years ago you probably have a lot more resources and could find Nejc et al if something didn't go right.  last i heard some parts of europe can get a little rough...

if we are talking about such persons, why the heck would he panic sell like this on a sunday?

[prophetx]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.

It's bearish only in the sense that it invalidates all the "big players are paying premium prices, buying OTC to avoid slippage."

Only if it sells..

Actually, just the opposite.  The wall being bought would mean that big players do want to buy large quantities without slippage.

Seriously. I´m sure all of the big players that are interested in buying huge chunks have 10 Mio+ layin around on Bitstamp (and on every other exchange to be sure) sitting in front of their computer24/7, just in case someone puts up a 30k BTC wall... And it´s weekend btw.
That wall has been around for a few hours on a Sunday. we´ll see how much longer it stays.

wrong answer

[prophetx]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

to have 10 million $ on one exchange is nearly as smart as having 30.000 btc on one exchange lmao  

yeah true.  so stupid.

it has to be either Nejc Kodric or someone very close to him.

let's put it this way

if you had about 400g's to sink into internet funny money 2 years ago you probably have a lot more resources and could find Nejc et al if something didn't go right.  last i heard some parts of europe can get a little rough...

if we are talking about such persons, why the heck would he panic sell like this on a sunday?

he has not panic sold, he dumped about 15% ...

no he did a mini dump to get attention

[sbrzol]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

or he wants to buy more, but does not want the price go higher (nobody will eat so much btc) until his new fiat arrives to bitstamp

[mmitech]

I mean how many 1TH/s miners does one think they can plug into a typical 200A house panel?
Sure there may be larger mining facilities out there but they have higher overheads.

There are bigger ones:
http://virtualmining.com/secret-bitcoin-mine-chinese-facility-uses-boiling-liquid-to-cool-massive-computers-that-generate-bitcoins-photos/
(That is an old one, though.)

AFAIK thse large installations are still profitable, even with today's prices.  But the increase in total hashrate means less coins for the outfits that were already mining.

this exact mining operation is from ASICMINER, it is no more profitable for sure (they used 120nm chips, each board does max 13GHs) and I also believe it is already offline.... but there is for sure other old yet profitable mining operations out there.... the key to that is making your own chips to bring the production cost to as low as possible.

hint: bitfury average cost for their 55nm chips is around 1$ but they sold them for $120 each at one point. how cool is that ?

[spooderman]

wall down

[JorgeStolfi]

This is ancient history not related to current events: a plot of the prices on some of the main exchanges during the time when the price at MtGOX was substantially above the average:


[ click on image for full-size version ]

Here is the data file for that plot, if anyone wishes to play with it.

[Schickeria]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.

It's bearish only in the sense that it invalidates all the "big players are paying premium prices, buying OTC to avoid slippage."

Only if it sells..

Actually, just the opposite.  The wall being bought would mean that big players do want to buy large quantities without slippage.

Seriously. I´m sure all of the big players that are interested in buying huge chunks have 10 Mio+ layin around on Bitstamp (and on every other exchange to be sure) sitting in front of their computer24/7, just in case someone puts up a 30k BTC wall... And it´s weekend btw.
That wall has been around for a few hours on a Sunday. we´ll see how much longer it stays.

It must not get bought by one or very few people. We saw this on smaller walls. Reaching the wall one starts to buy, other will follow.

Well, I agree that it could be some manipulation, only I see no reason to believe that for now. Let's wait and let us see what will happen  

[spooderman]

Well it seems to me that that wall did it's job.

We seemed to bounce back. From 276 to above 320. Then he sold and put up a giant wall to prevent further recovery.

Thanks a lot.

[kryptopojken]

Wall is gone 

[criptix]

There's a premium that would need to be paid for someone to acquire 30K.. look at the USMS Auction. To show a 30K wall would be completely stupid unless, of course, it's just designed to scare people. It's working.

And yet nobody wants to buy it

to have 10 million $ on one exchange is nearly as smart as having 30.000 btc on one exchange lmao  

yeah true.  so stupid.

it has to be either Nejc Kodric or someone very close to him.

let's put it this way

if you had about 400g's to sink into internet funny money 2 years ago you probably have a lot more resources and could find Nejc et al if something didn't go right.  last i heard some parts of europe can get a little rough...

if we are talking about such persons, why the heck would he panic sell like this on a sunday?

he has not panic sold, he dumped about 15% ...

no he did a mini dump to get attention

yes correct, but i still dont get the point of the 30 k wall.
if he really wants to sell thats a pretty bad sell strategy imho no?

[vuduchyld]

And look what happens to the price, instantly, when the wall comes down.

[criptix]

wall is gone, bitstamp is bouncing now, lets watch where we land

[selene72]

300-310-300 in about 5 seconds

[blaaaaacksuit]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

My theorie, its some one that whants the price to go down. They are not intending to sell, otherwhise they would not have closed the sell wall and put it up higher.
And with 30k I think that they can well bring it to 100 -130 if done right.


The question is, who and why

Wild speculation would be, that the winklov brothers need more Bitcoin for there ETF. So they are trying to bring the  Price down. ^^

Nigga, please.  The last thing the winks are going to get involved with right now would be rampant manipulation.  They don't want that etf to have any association with anything that might be construed as illeagal.

[fonzie]

Doesn't look like 300 will hold on stamp

So before I go to sleep.

What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?

Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?

Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.

Theories?

I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.

It's bearish only in the sense that it invalidates all the "big players are paying premium prices, buying OTC to avoid slippage."

Only if it sells..

Actually, just the opposite.  The wall being bought would mean that big players do want to buy large quantities without slippage.

Seriously. I´m sure all of the big players that are interested in buying huge chunks have 10 Mio+ laying around on Bitstamp (and on every other exchange to be sure) sitting in front of their computer24/7, just in case someone puts up a 30k BTC wall... And it´s weekend btw.
That wall has been around for a few hours on a Sunday. we´ll see how much longer it stays.

You trade large amounts without your cell ringing when the price hits your mark?
And you think it's some minnow risking 27k coin on a Sunday?

ehh, i was sarcastic about the part that people have millions of USD on every exchange just in case a opportunity arises to buy a huge sum of coins without slippage.

[spooderman]

Now a 25k buy takes us to $1100

[ssmc2]

[Schickeria]

Well it seems to me that that wall did it's job.

We seemed to bounce back. From 276 to above 320. Then he sold and put up a giant wall to prevent further recovery.

Thanks a lot.

It does not mean a lot. Could start to sell a part, move it down...next hours/days will show.