Bitcoin Whale Spends over 800 BTC just to Win a 5 Million Doge Bet

[sureshnsnet]

I think about how much bitcoins he holding with him because he spent 800 bitcoins for just win 5m dogecoins maybe 800 bitcoins are not anything for him if someone spent it for a bet to 5million dogecoins as my thought but still not able believe it is real or fake news because I can see both comment posts here.  

[Astargath]

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

haha, you are a victim of some fake news on the internet so far as you even wrote an article on your website... it is so easy to take credit for something that has happened in the past. and that is what they are doing right here. the price stopped and naturally there was a stronger buy support there and now someone is trying to take credit.

That would be quite a coincidence, he even warned the other guy not to take the bet.

[nancy]

This can be a nice pump for dogecoin

[killerfrost]

it is a game of rich people, so don't be surprised by that kind of thing, they are more concerned with self-esteem than matter, what matters is winning the bet even if they have to bear material losses, 800 bitcoin might not mean anything to them.

Although that is a game for rich people, if I were him, I would not use 800 bitcoin to try to win the prizes in gambling. I would prefer to hold that 800 bitcoin and waiting for the price to increase. I can use 800 bitcoin for another thing than to just play gambling. But I realize that for rich people, they can use their money for anything they want, and they don't mind to use it on the gambling games, and if that rich person loses that big amount of bitcoin, they will not regret it because they can make another bitcoin easily.

Yep if we own 800 BTC we will do many other things better, such as hold waiting for prices to rise. Or buy good altcoin and hold. And that's why they are different from us, they can spend 800 BTC to make a small game and do not care about losses, they can earn 800 BTC easily because maybe they have 10 times that amount in their wallets

[CyberKuro]

Hardly to confirmed, coincidence with the bet? Probably yes, probably not.
He didn't spent BTC800, it's purely clickbait.
He supposed to spent dollars instead of bitcoin to keep bitcoin price above $7100, and don't think it would take so much money to make it happen.
The opponent could do the opposite to push the price below $7100.

[Juggy777]

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

haha, you are a victim of some fake news on the internet so far as you even wrote an article on your website... it is so easy to take credit for something that has happened in the past. and that is what they are doing right here. the price stopped and naturally there was a stronger buy support there and now someone is trying to take credit.

@pooya87 it’s not his fault that he fell for the clickbait scheme of the media house, who wrote a catchy article with the sole aim of getting traffic to thier site. According to Cointelegraph article it’s now confirmed that the user didn’t buy 800 bitcoins to influence the prices, and it’s also sad to read that in the end he’s only getting 6 Doge coins for winning the bet.

Source: https://cointelegraph.com/news/bitcoin-whale-defends-72k-price-with-800-btc-to-win-001-in-doge

[ChrisPop]

The volume and liquidity in the crypto market is very low compared to the traditional markets. Any party with a few hundred bitcoins can masssively impact the bitcoin price especially if they use leverage. I am sure that this problem is going to solve itself as the market matures, but until then we're going to see these massive wicks thrown around in the market. I don't like the idea of betting over market price. If you wanna bet do it on the market like everyone else. I guess some people are just arrogant and they fulfill themselves by showing off in the public  

[coin-investor]

https://www.coincurb.com/news/bitcoin-investor-spends-800-btc-to-win-bet/

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

Very interesting and that's only one whale, the bet and the conversations are open, we never know if they have a secret room where they can discuss manipulating the market, they can manipulate the market now because Bitcoin is not in its peak price I don't know if it is possible to bets like that when Bitcoin is trading at $50,000 level, it's hard to imagine manipulating the market through bets but they are actually doing it and we have seen the proof.

[Kprawn]

You would have to be very stupid to risk $5.7 million worth of Bitcoin on a $11 000 worth of Dogecoin. Yes, people might say that he would not have

lost the $5.7 million, but he would be risking it in a bad timed trade.    I personally think 800 bitcoins would not make a huge difference on Bitfinex,

but other traders might pitch in to sway the price and that could trigger something. In any way, it is never a good idea to splash money like that,

because it will just attract attention from the wrong people. (authorities and criminal elements) 

[Fappanu]

https://www.coincurb.com/news/bitcoin-investor-spends-800-btc-to-win-bet/

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

Here we can see how Whales play the price of bitcoin, and here we also see how they make a huge profit by manipulating prices.
And there is nothing we can do here if we do not go along with the steps we will take to prevent our losses.

[buwaytress]

So what do we gain here?
- Bitfinex prices can be manipulated (we knew that).
- To Manipulate it for a short period of time, you need to be able to have 800 BTC (not including hidden orders if we accept the insinuation from whale to be accurate)
- Whales who bet don't honour their bets (who's surprised eh?), whales don't care when their bets aren't paid up either. 10k USD, after all, it's like peanuts for the big boys isn't it?

[ariennem]

https://www.coincurb.com/news/bitcoin-investor-spends-800-btc-to-win-bet/

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

Hi Astargath
I looked and I found that she does analyzes on her blog, but from these analyzes I find that she is not professional dans le bitcoin, in addition Dogecoins has no real value

[xvids]

Nice move and it was pretty clear that they only use one trading site to bet on the price,
Who know's maybe there are other whales who help him in order to receive some tip or have some part of the bet.
But it was clear that the price was manipulated and it isn't something new for us we all know that the whales could easily move the market from time to time.

[kryptqnick]

https://www.coincurb.com/news/bitcoin-investor-spends-800-btc-to-win-bet/

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

Is it easy to manipulate the market, though? I don't see any dramatic changes over the last 24 hours in terms of the price of Bitcoin. Do you? Maybe the guy just got lucky rather than prevented the loss. It could be just a coincidence like some have rightly pointed out.
Oh, not to mention that even if it had an impact, it was 'local', not 'global'. The bet was about Bitfinex, and pouring $5 million worth of coins made the price, what, like $50 more for an hour on one major exchange? That's not an example impact or let alone manipulation to me. I think it actually shows quite the opposite: how much effort a millionaire has to put to make a tiny difference (if any at all).

[Slow death]

Goes to show how easy it is to manipulate the market.

This is not a problem that only bitcoin has. But the crypto market problem is that they manipulate the price in a very obvious way that most people realize and this creates a gap for governments to criticize the crypto market. many governments also do things similar to what has happened in the crypto world

[2double0]

Samu looks like a scammer here, doesn't he?
The promise was, he needs to pay Joe007 5M dogecoins to his (Joe's) choice of address if the demand of the bet is met and BTC remains above $7100. No matter how it was maintained, but whether market manipulation or anything, the risk was involved too because Joe could have been dumped by another whale if markets could have slumped and seen a downsurge on most high volume exchanges. Betting his 800 BTC just to win a bet of 5M dogecoins looks weird mentality here, but if the word was kept by Joe, so should have been done by Samu too as expected. He just paid Joe 6 dogecoins after accusing him of manipulating the markets, excuses?

[posi]

Holycow He could have just bought the doge in the market and with less than 200BTC he could get more than 500Million of doge, no one advised to just buy instead of manipulating the market, 800+ BTC is the price to prove his analysis.  Anyway, people can do any thing with what he owns as he see fit, its his coins.

That's a kind of thing that usually happens between die-hard fans of a particular meadow which seem to be good in what they love and i don't see something bad in it because the guy that won the bet will definitely be somebody who usually invest in future form of trading which automatically earn more profit.
Meanwhile, the situation happened a couple of days ago

[HarmonyA]

https://www.coincurb.com/news/bitcoin-investor-spends-800-btc-to-win-bet/

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

Wow! Somebody utilized around 800 BTC to keep Bitcoin price stable for a period.
He was much progressively idealistic that he will win.
A similar person that was wagering on Twitter, be that as it may, it would be a serious occurrence if it wasn't.
This indicates the power of crypto whales in the market. They can do an undo, and  further points at one of the issues to be address on crypto volatility.

[pooya87]

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

haha, you are a victim of some fake news on the internet so far as you even wrote an article on your website... it is so easy to take credit for something that has happened in the past. and that is what they are doing right here. the price stopped and naturally there was a stronger buy support there and now someone is trying to take credit.

@pooya87 it’s not his fault that he fell for the clickbait scheme of the media house, who wrote a catchy article with the sole aim of getting traffic to thier site. According to Cointelegraph article it’s now confirmed that the user didn’t buy 800 bitcoins to influence the prices, and it’s also sad to read that in the end he’s only getting 6 Doge coins for winning the bet.

Source: https://cointelegraph.com/news/bitcoin-whale-defends-72k-price-with-800-btc-to-win-001-in-doge

yeah, i know the news is circulating other places including the bigger news sites but the link that OP posted is a link to his own website so it is safe to assume he himself wrote it or basically copied the content that he thought is more click-bait-y.
it just makes sad to see people waste a lot of money and effort in creating websites then try to grow its traffic by writing very low quality content and then wonder why their site fails in the long run.

[Astargath]

This guy on Twitter actually spent 800 (probably more) BTC in order to win a few Dogecoins. Goes to show how easy it is to manipulate the market.

haha, you are a victim of some fake news on the internet so far as you even wrote an article on your website... it is so easy to take credit for something that has happened in the past. and that is what they are doing right here. the price stopped and naturally there was a stronger buy support there and now someone is trying to take credit.

@pooya87 it’s not his fault that he fell for the clickbait scheme of the media house, who wrote a catchy article with the sole aim of getting traffic to thier site. According to Cointelegraph article it’s now confirmed that the user didn’t buy 800 bitcoins to influence the prices, and it’s also sad to read that in the end he’s only getting 6 Doge coins for winning the bet.

Source: https://cointelegraph.com/news/bitcoin-whale-defends-72k-price-with-800-btc-to-win-001-in-doge

yeah, i know the news is circulating other places including the bigger news sites but the link that OP posted is a link to his own website so it is safe to assume he himself wrote it or basically copied the content that he thought is more click-bait-y.
it just makes sad to see people waste a lot of money and effort in creating websites then try to grow its traffic by writing very low quality content and then wonder why their site fails in the long run.

Some people have websites, others get paid for posting stuff on Bitcointalk, we all do what we can eh? I wouldn't necessarily say your posts are very high quality but good luck hating on other people, you will get far.