The whales are cashing out

[freightjoe]

I am wondering where you can find this information about the whales cashing out? There is some report talking about it?

What I have read is about Charlie Lee getting rid of all his Litecoins: https://www.bloomberg.com/news/articles/2017-12-20/after-7-500-rally-cryptocurrency-founder-sells-all-his-coins  which created a bit of doubts and fear, but after his explanation (bit weird for me, but I prefer to think that each one of us have different believes and reasons to do what we do) it seems that no crash happened with Litecoin.

So, how we can know about effects of whales cashing out, if we already don't know if that is happening for sure?

https://seekingalpha.com/article/4127707-just-sold-half-bitcoin
http://nordic.businessinsider.com/this-danish-billionaire-just-made-a-killing-on-bitcoin-2017-11/

[GwSoJ]

I am wondering where you can find this information about the whales cashing out? There is some report talking about it?

What I have read is about Charlie Lee getting rid of all his Litecoins: https://www.bloomberg.com/news/articles/2017-12-20/after-7-500-rally-cryptocurrency-founder-sells-all-his-coins  which created a bit of doubts and fear, but after his explanation (bit weird for me, but I prefer to think that each one of us have different believes and reasons to do what we do) it seems that no crash happened with Litecoin.

So, how we can know about effects of whales cashing out, if we already don't know if that is happening for sure?

https://seekingalpha.com/article/4127707-just-sold-half-bitcoin
http://nordic.businessinsider.com/this-danish-billionaire-just-made-a-killing-on-bitcoin-2017-11/

Lol, so these two links which are the same story and that have zero way of being confirmed are your entire argument?

[freightjoe]

Hey freightjoe, you're biggest problem here is you are trying to compare a crypto market to a normal market. It's not even a valid comparison, can't be and never will be.

Anyone cashing in BTC for fiat is an idiot and if they sell 10,000 Bitcoin at once and the price drops a few thousand dollars then I will happily buy them.

So basically your argument is that this time it is different?

Try a little reading: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640

It is a solid well-researched book covering the last 800 years showing that it is never different in terms of financial bubbles. And don't delude yourself into thinking the world has not seen tremendous technological inventions in the past 800 years.....

This time it's different in comparison to what? of course it's different because it's brand new.

It's not a financial bubble because it's not financial. It's technological. It's like comparing the travel logs of steam ships from London to New York vs the same trip done on Concorde. There is no comparison.

The markets will have to reinvent themselves over and over again for the next few years because we still don't even know what Cryprocurrency is yet. So there is absolutely no validity in any comparison or prediction you or anyone else makes.

Stick to the facts. Crypto is the future, Bitcoin is crypto gold and there will only ever be 21 million of them. The rest, right now, is irrelevant.

I am sticking to the facts. In 800 years we have seen the invention of the modern financial system, the printing press leading to a mass-enlightenment of the global population, the steam engine, the combustion engine, railways, electronics, instant global communication, an explosion in global population from a few tens of millions of people to 7 billion - and through all of this change, the underlying financial developments were essentially the same over and over again.

Yet in all of this you claim that crypto is so wildly revolutionary that this time it is different? That would be ahistoric, narcissistic and delusional.

[freightjoe]

I am wondering where you can find this information about the whales cashing out? There is some report talking about it?

What I have read is about Charlie Lee getting rid of all his Litecoins: https://www.bloomberg.com/news/articles/2017-12-20/after-7-500-rally-cryptocurrency-founder-sells-all-his-coins  which created a bit of doubts and fear, but after his explanation (bit weird for me, but I prefer to think that each one of us have different believes and reasons to do what we do) it seems that no crash happened with Litecoin.

So, how we can know about effects of whales cashing out, if we already don't know if that is happening for sure?

https://seekingalpha.com/article/4127707-just-sold-half-bitcoin
http://nordic.businessinsider.com/this-danish-billionaire-just-made-a-killing-on-bitcoin-2017-11/

Lol, so these two links which are the same story and that have zero way of being confirmed are your entire argument?

Lol, typical behaviour of people with religious fervor not wanting to learn. And, yes, Bitcoin is a religion with the devoted constantly chanting "hodl" in the hope that is will save them. It will never matter to the believers how many or how few links are posted, it will never be enough. And after the shock of the crash they will be looking for someone else than themselves to blame for their misfortune.

[GwSoJ]

Hey freightjoe, you're biggest problem here is you are trying to compare a crypto market to a normal market. It's not even a valid comparison, can't be and never will be.

Anyone cashing in BTC for fiat is an idiot and if they sell 10,000 Bitcoin at once and the price drops a few thousand dollars then I will happily buy them.

So basically your argument is that this time it is different?

Try a little reading: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640

It is a solid well-researched book covering the last 800 years showing that it is never different in terms of financial bubbles. And don't delude yourself into thinking the world has not seen tremendous technological inventions in the past 800 years.....

This time it's different in comparison to what? of course it's different because it's brand new.

It's not a financial bubble because it's not financial. It's technological. It's like comparing the travel logs of steam ships from London to New York vs the same trip done on Concorde. There is no comparison.

The markets will have to reinvent themselves over and over again for the next few years because we still don't even know what Cryprocurrency is yet. So there is absolutely no validity in any comparison or prediction you or anyone else makes.

Stick to the facts. Crypto is the future, Bitcoin is crypto gold and there will only ever be 21 million of them. The rest, right now, is irrelevant.

I am sticking to the facts. In 800 years we have seen the invention of the modern financial system, the printing press leading to a mass-enlightenment of the global population, the steam engine, the combustion engine, railways, electronics, instant global communication, an explosion in global population from a few tens of millions of people to 7 billion - and through all of this change, the underlying financial developments were essentially the same over and over again.

Yet in all of this you claim that crypto is so wildly revolutionary that this time it is different? That would be ahistoric, narcissistic and delusional.

What are you talking about man? The only thing in that post you just made that is even relevant to this discussion is the invention of the modern financial system. Which is now old, defunct and just about to be re-invented so also has very little relevance.

If you think the financial system today is the same as it was 800 years ago then you clearly know absolutely nothing about the financial system.

Stop digging mate. You're in a hole you can't get out of already.

[Oulay]

No real point in discussing with you as you are clearly incapable of rational analysis. The crash is coming, that is unchanged. That this is a bubble is beyond any doubt. That the bubble is driven by a combination of greed and sheer blind stupidity is also beyond a shadow of a doubt. The whales are in the process of cashing out, leaving the naive to take the fall.

The same reply, again and again.. Every time someone puts you in the corner you say that he is incapable of rational analysis...
Just show me one sentence based on rational analysis in the whole quote pyramid in your post!
Even your original post is based on stupid speculations and still you come here and talk about rational analysis..
you were wrong last time.. you'll be wrong this time.. and you'll be wrong every next time in the future...

Even if bitcoin is a bubble and even if it bursts one day, no one of us will be able to tell that "this drop" is the last one that "this time" is the time bitcoin will collapse.. It didn't burst any time when the price dropped in the past, so why should it burst now? Thus, the best strategy is to act like it's not the last drop because most probably it won't be..

[freightjoe]

What are you talking about man? The only thing in that post you just made that is even relevant to this discussion is the invention of the modern financial system. Which is now old, defunct and just about to be re-invented so also has very little relevance.

If you think the financial system today is the same as it was 800 years ago then you clearly know absolutely nothing about the financial system.

Stop digging mate. You're in a hole you can't get out of already.

Try thinking a bit, that usually helps.

So you genuinely mean that the whole industrial revolution was not relevant for the financial development?
That the population explosion was not relevant for the financial development?
That the invention of modern communication tools (and computers) was not relevant for financial development?

If this is truly what you believe, then your understanding of economics (and history) is indeed very very poor.

This time is clearly not different - right down to ill-informed short sighted people hyping the latest craze because to them this time it is different

[saedasda]

I dont think that whales are cashing out but they are only changing token. Dont panic bro this is just the beginning  

[freightjoe]

No real point in discussing with you as you are clearly incapable of rational analysis. The crash is coming, that is unchanged. That this is a bubble is beyond any doubt. That the bubble is driven by a combination of greed and sheer blind stupidity is also beyond a shadow of a doubt. The whales are in the process of cashing out, leaving the naive to take the fall.

The same reply, again and again.. Every time someone puts you in the corner you say that he is incapable of rational analysis...
Just show me one sentence based on rational analysis in the whole quote pyramid in your post!
Even your original post is based on stupid speculations and still you come here and talk about rational analysis..
you were wrong last time.. you'll be wrong this time.. and you'll be wrong every next time in the future...

Even if bitcoin is a bubble and even if it bursts one day, no one of us will be able to tell that "this drop" is the last one that "this time" is the time bitcoin will collapse.. It didn't burst any time when the price dropped in the past, so why should it burst now? Thus, the best strategy is to act like it's not the last drop because most probably it won't be..

Read this one: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640
And then tell my that it is not based on rational analysis. And, please, tell me why this time - for the first time in 800 years - it is different.

[GwSoJ]

What are you talking about man? The only thing in that post you just made that is even relevant to this discussion is the invention of the modern financial system. Which is now old, defunct and just about to be re-invented so also has very little relevance.

If you think the financial system today is the same as it was 800 years ago then you clearly know absolutely nothing about the financial system.

Stop digging mate. You're in a hole you can't get out of already.

Try thinking a bit, that usually helps.

So you genuinely mean that the whole industrial revolution was not relevant for the financial development?
That the population explosion was not relevant for the financial development?
That the invention of modern communication tools (and computers) was not relevant for financial development?

If this is truly what you believe, then your understanding of economics (and history) is indeed very very poor.

This time is clearly not different - right down to ill-informed short sighted people hyping the latest craze because to them this time it is different

Aww, resorting to insults already, very weak.

The industrial revolution came out of requirement for more stuff and due to advancements in technology. The financial system that built up around it had nothing to do with it. This is basic stuff, shame you can't seem to get your head around it.

The population explosion happened because we could produce more food, better medicine and hygiene. Once again it had nothing to do with finance that yet again grew beside it but not because of it.

You're argument is like an old woman's fart. It's weak, watery and has no substance to it.

[bitterguy28]

This is true, but I suggest to hold and be patient. Don't get affected on the price dropping. I will hold my bitcoin because I am thinking of on the future that for sure I can gain profit if I will patiently wait on that day that I can en-cash in the right time. Maybe If I can have my 1 btc for the future that would be great.

I agree with you mate patience and calm guys do not panic about bitcoin falll down that is not healthy for us, for my observation about bitcoin dump and pump have a good effect, if bitcoin dumping the price for the short time and wait the bounce back and huggable interest profits return can get.

[Oulay]

No real point in discussing with you as you are clearly incapable of rational analysis. The crash is coming, that is unchanged. That this is a bubble is beyond any doubt. That the bubble is driven by a combination of greed and sheer blind stupidity is also beyond a shadow of a doubt. The whales are in the process of cashing out, leaving the naive to take the fall.

The same reply, again and again.. Every time someone puts you in the corner you say that he is incapable of rational analysis...
Just show me one sentence based on rational analysis in the whole quote pyramid in your post!
Even your original post is based on stupid speculations and still you come here and talk about rational analysis..
you were wrong last time.. you'll be wrong this time.. and you'll be wrong every next time in the future...

Even if bitcoin is a bubble and even if it bursts one day, no one of us will be able to tell that "this drop" is the last one that "this time" is the time bitcoin will collapse.. It didn't burst any time when the price dropped in the past, so why should it burst now? Thus, the best strategy is to act like it's not the last drop because most probably it won't be..

Read this one: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640
And then tell my that it is not based on rational analysis. And, please, tell me why this time - for the first time in 800 years - it is different.

Everything the link says is that bitcoin will crash someday.. It's not saying that it will crash today.. While your original post is just about guessing that it will crash today, like you guessed - and were wrong - last time..
And btw I'm not saying that this time is different..

Actually, you should tell me why this time is different?? why among all the previous falls in bitcoin price it recovered to a much higher price, but this time it's gonna burst??

[Dapper]

It's the same game (zero sum, like all securities/commodities markets all over the world).  Sell it down and buy back in.   

[freightjoe]

Read this one: https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640
And then tell my that it is not based on rational analysis. And, please, tell me why this time - for the first time in 800 years - it is different.

Everything the link says is that bitcoin will crash someday.. It's not saying that it will crash today.. While your original post is just about guessing that it will crash today, like you guessed - and were wrong - last time..
And btw I'm not saying that this time is different..

Actually, you should tell me why this time is different?? why among all the previous falls in bitcoin price it recovered to a much higher price, but this time it's gonna burst??

You are literally commenting on the content of the link without even reading what the content is? The link - as would be evident - is to a book on Amazon. As you will see because it deals with 800 years is not specific on Bitcoin. It is hard-core analysis showing exactly why it is never different - and never has been. I can see why you have a tough time understanding new items when you approach to anything not fitting your preconceived notions is simply dismissed based on what you guess the content is, not what the actual content is.

[freightjoe]

It's the same game (zero sum, like all securities/commodities markets all over the world).  Sell it down and buy back in.   

So you believe the markets are a zero sum game? Sorry to break it to you, but you are quite wrong....

[tech72]

We will never know. Price has been stable. Who knows Bitcoin might rise to 100k in few months. Whales as well as small traders have been cashing out for a while.

[Dapper]

It's the same game (zero sum, like all securities/commodities markets all over the world).  Sell it down and buy back in.  

So you believe the markets are a zero sum game? Sorry to break it to you, but you are quite wrong....

And how would you define a market (and this includes everything in the world from fish in the market to the Nasdaq to crypto) where one person buys and the other sells?

 

[ahmad21]

The extreme escalation in transaction times is there to ensure the whales can cash out but that smaller investors cannot.

Whales can make large transactions, the fees do not mean as much to them.

At the same time the small investors cannot cash out because their investment is quite small compared to the fees.

The result is the following:

- Whales are cashing out, converting to fiat
- Newbies are buying from the whales in the hope of continues increases
- Existing smaller investors do not want to sell now (despite possible large profits) because of the high fees is you only have a small investment (Today another bitcoiner on this forum has to pay a 20$ fee for a 50$ transaction).

When the whales have completed the sell-off, smaller bitcoin investors can finally begin to sell and that will be the trigger for a complete collapse in the price.

Just because one of the so called co founder of bitcoin has been alleged to sell of his bitcoins it doesn't really means that every whales is just selling off. Maybe its just that its a very normal correction in btc price. Yes one has to accept that bitcoin is no longer the old bitcoin and the blockchain on which it works really stinks now due to a lot of congestion but still btc is not out of confidence.

[Oulay]

You are literally commenting on the content of the link without even reading what the content is? The link - as would be evident - is to a book on Amazon. As you will see because it deals with 800 years is not specific on Bitcoin. It is hard-core analysis showing exactly why it is never different - and never has been. I can see why you have a tough time understanding new items when you approach to anything not fitting your preconceived notions is simply dismissed based on what you guess the content is, not what the actual content is.

I won't be reading the whole fuckin book just because you put its link in a post! I just read what is in the page you put its link and its enough to know what the book is about..

Everything the link says is that bitcoin will crash someday.. It's not saying that it will crash today.. While your original post is just about guessing that it will crash today, like you guessed - and were wrong - last time..

And btw I'm not saying that this time is different..

Actually, you should tell me why this time is different?? why among all the previous falls in bitcoin price it recovered to a much higher price, but this time it's gonna burst??

And again I say that I'm not saying this time is different.. Even if it's the same we can still make money out of it.
On the other hand, you didn't even respond to my question.. Why? Can't you understand it?

[freightjoe]

You are literally commenting on the content of the link without even reading what the content is? The link - as would be evident - is to a book on Amazon. As you will see because it deals with 800 years is not specific on Bitcoin. It is hard-core analysis showing exactly why it is never different - and never has been. I can see why you have a tough time understanding new items when you approach to anything not fitting your preconceived notions is simply dismissed based on what you guess the content is, not what the actual content is.

I won't be reading the whole fuckin book just because you put its link in a post! I just read what is in the page you put its link and its enough to know what the book is about..

You clearly are lying now.

Your initial comment to the link was :

Everything the link says is that bitcoin will crash someday

There is nothing in that page even close to what you are saying here.

There is no point in discussing this point with you when you are simply flat out lying.

But this is also typical of people who are afraid to admit that they are wrong - then they would much rather tell obvious lies than admit they are wrong.