Money for Nothing and your Bitcoin for Free

[Ozero]

Even if this information proved  to be incorrect, it could well have happened in practice and this is quite normal. Smaller bitcoin holders do this all the time. This is one of the reasons why Bitcoin does not reach very high price values. Thus, its price will constantly stray. This is quite normal, because if this market rule did not work in relation to cryptocurrency, then after some time there would have been a general collapse. Simply put, the bubble would burst.

[Aptekary]

It seems to me that there is no need to blame ordinary users of cryptocurrency, which keep small amounts of Bitcoin.  The fact is that in the cryptocurrency market, large whales have always been manipulated.  Trace the connection between large orders on trading exchanges with Bitcoin pricing.

[Ryan Dugan]

People are only talking like this because things went well. If things went badly then what? How often can a whale do this? It must have been calculated. Whoever the owner of that wallet is they sure are lucky.

It seems to me that there is no need to blame ordinary users of cryptocurrency, which keep small amounts of Bitcoin.  The fact is that in the cryptocurrency market, large whales have always been manipulated.  Trace the connection between large orders on trading exchanges with Bitcoin pricing.

I think most of us would do the same thing in their position.

[Caladonian]

It seems to me that there is no need to blame ordinary users of cryptocurrency, which keep small amounts of Bitcoin.  The fact is that in the cryptocurrency market, large whales have always been manipulated.  Trace the connection between large orders on trading exchanges with Bitcoin pricing.

Small holders most of the time are the victims of whales movements, each time the big bag holders create actions momentum will go according
to their directions, it's always the traders who can handle pressures and risk will benefits with any sway that will happen.

Trade with all your knowledge and continue to enhance your opportunities, whales are there so carefully analyze before believing in any created movements,

[uneng]

Even if this information proved  to be incorrect, it could well have happened in practice and this is quite normal. Smaller bitcoin holders do this all the time. This is one of the reasons why Bitcoin does not reach very high price values. Thus, its price will constantly stray. This is quite normal, because if this market rule did not work in relation to cryptocurrency, then after some time there would have been a general collapse. Simply put, the bubble would burst.

I didn't know these news were just fud, but since it is, I agree with you: this could be a very normal event on crypto market. Hodlers who have many coins under their control can manipulate the market and play with prices, leading a panic selling wave right after that will impact the market even more.
Some centralization enthusiasts will use this possibility as an argument against bitcoin, saying that is one of the biggest weaknesses of decentralization and I believe they aren't totally wrong. At same time that is what allow investors to build their fortunes and grow their small investments decently.

[Bunsomjelican]

As I can see with this business, if you have a big huge capital in cryptocurrency there is  big chance for you to earn big in the future, even for a short of period of time. And it is true that big whaler is an advantage because they can manipulate the market so easily.

[Kakmakr]

I am not saying this cannot happen, but I think after reading the whole discussion it became clear that this was just FUD and not true at all. Yes, there are certainly people doing this and I think it is highly unethical to manipulate the market at the expense of others, but I think most people would do this, if they had the resources to do this.

Would you ignore a $15 000 000 payday for 90 minutes of work? <Most people work their whole life and never accumulate that kind of money> 

[ralle14]

According to this article, anyone with a 25K BTC can earn millions of dollars in just a few hours with the right moves. Am I correct? Could this be so simple? I don't think it's possible.

Doing the "right moves" on trading is possible for whales since we've seen the price of Bitcoin move by 5%-10% several times. It's not always simple and he's not the only whale trader so there's still a risk to it.

Also for others that are interested in reading the thread that was discussed a week ago (mentioned by a couple of users on page 1).  

[bitcoin-shark]

is surprisingly the ease and speed with which whales manage to manipulate the market in their favor, interest, exchanges should find a way to stem this phenomenon, unless it also suits them (more fees for more volumes)...

[maldini]

this was already discussed a ton when price dropped and was debunked too. you didn't need to read something on reddit and make a article about it! it was a misunderstanding plus some FUD that led the started of this whole thing to believe those funds were moved to exchange to be sold. we actually figured out that those coins weren't even moved to exchange, but to a wallet (XAPO to be exact)

Yes right, this discussion has been discussed in another thread and it is true that there are quite a lot of coin transfers. But that doesn't mean that they dump all coins, the price drops in my opinion because there is a lot of fud appearance due to this discussion so that people think through other perspectives as if a big dump will occur.

https://bitcointalk.org/index.php?topic=5150691.msg51347543#msg51347543

[jossiel]

is surprisingly the ease and speed with which whales manage to manipulate the market in their favor, interest, exchanges should find a way to stem this phenomenon, unless it also suits them (more fees for more volumes)...

That's the power you can have if you own thousands of bitcoins but it's not verified that this news that has shared by OP is what actually happened during the dip days.

I am not saying this cannot happen, but I think after reading the whole discussion it became clear that this was just FUD and not true at all. Yes, there are certainly people doing this and I think it is highly unethical to manipulate the market at the expense of others, but I think most people would do this, if they had the resources to do this.

Would you ignore a $15 000 000 payday for 90 minutes of work? <Most people work their whole life and never accumulate that kind of money> 

Even for $1 000 000, you have to calculate on how many years you need to dedicate within your life just to accumulate a net of that profit. But yeah, it was all just a FUD and I thought last time it was for real. These articles would really love to drive the prices down by their influence.

[Naughty Princess]

It seems to me that there is no need to blame ordinary users of cryptocurrency, which keep small amounts of Bitcoin.  The fact is that in the cryptocurrency market, large whales have always been manipulated.  Trace the connection between large orders on trading exchanges with Bitcoin pricing.

Manipulating the market which benefits those who are having good volume of bitcoin but those who just take risk with small amount can easily panic when the price changes and gain profit early though small than to lose it due to price dropping. We have to understand how to play with the market.

[bitcon]

is surprisingly the ease and speed with which whales manage to manipulate the market in their favor, interest, exchanges should find a way to stem this phenomenon, unless it also suits them (more fees for more volumes)...

The cryptocurrencies world is just a virtual model of the reality we live in. Those, who have more money can affect almost everything, which has a material nature. The whales will always manipulate the market.

[MakeMoneyBtc]

Honestly i don't really see the point of this thread since all you said there happened more than a week ago. Regarding to whales, it's well knows that they do this kind of moves pretty often and it's no wonder that when you have hundreds of millions of dollars at risk you are almost 100% that you are going to end up in profit.

[MonsterV]

What worry us most is those newbies so are easily sway by this news. Majority of them will be somewhat influence and push the sell button because they don't know why they are being played by this whales.

Even so it does not rule out the possibility of old traders also following the market flow and they sell it because of that manipulation. Old traders must hold coins with a large amount on average and certainly they don't want to lose, therefore they are also carried away and sell them.

There are too many hypocrites here, even though they are also afraid when there is bad news that affects the market and they push the selling button in droves, that's a double-faced trader.

[Danslip]

This article has been written by Jason Bloomberg and published on https://dailyiconews.com, I just copy and paste it.


On June 3rd, the price of Bitcoin (BTC) dropped from $8,451 to $7,886 in ninety minutes, a drop of 7%. Thanks to the intrepid Redditor u/makoveli, we know precisely why this drop took place.

As it turns out, a single individual (or perhaps a consortium trading as a unit) was responsible. This ‘whale’ moved 25,000 BTC to Coinbase. About a half hour later, they moved 14,000 of those Bitcoins to another wallet, followed forty minutes later by another transfer of 11,000 BTC from Coinbase to yet another wallet.

Then a mere fifteen minutes after that, our friendly whale moved ten million Tether (USDT) from one wallet to another.

As u/makoveli concludes, “someone dumped 25k BTC for $215M and bought it back shortly after for $200M. In doing so, they pocketed $15M and walked away with the same amount of BTC as they started with.”

Yes, this whale had $215,000,000 worth of Bitcoin to play with – and play with it they did, to the tune of $15,000,000 in profit. Not bad for 90 minutes of work.

Could anybody have moved the value of Bitcoin this way? Certainly – all you would need is 25,000 Bitcoins or so, and the will to make a huge score at the expense of all the hodler chumps out there.

And if anybody still wonders what the real purpose of Tether and other stablecoins like it is? Price manipulation like this example and many others, of course, benefitting a small handful of whales at the expense of a large number of crypto hodlers – aka marks.

Jason Bloomberg neither owns, nor plans to own, any cryptocurrency or other crypto token, either long or short.

It is not the secret fact that BTC whales use different exchanges for arbitrage and speculation. Over the 200 mln, USD is not a joke and these guys found an easy way to make money with simple clicks. A dream came true or these guys, these guys know what they are doing in my opinion.

[TimeBits]

Money for Nothing and your Bitcoin for Free

I thought this article was going to be how usd and other fiats are printed in unlimited and they get your bitcoin for free (limited), because that would of been a good article.
This is about a pump and dump, who cares?

[Nalbo]

This is true for everything not just bitcoin or stable coin.
The world economics has worked this way. The improvment in crypto is that you have choices.
If you talk about real world fiat wealth, it's more concentrated around whales than bitcoin is. 26 richest people in earth owns more than 50% of total global wealth.
https://www.theguardian.com/business/2019/jan/21/world-26-richest-people-own-as-much-as-poorest-50-per-cent-oxfam-report

[agatha90]

I see that sometimes the price of a coin is influenced by a large shot from the popes, when they start playing their assets, the market price changes immediately. So the conclusion is, market prices are influenced by the game of the big whale.

[Little_king]

The whole market has become a gambling house has the whales are the one controlling the price to their own self price , even the TA has no effect on the market anymore for the they are the dictator , just recently that price need to dump bit keep in stands for days and sudden surge happen and also now the price as stay for days in 8000 range which they are to pump or dump any moment.