whales are stupid

[waterpile]

I wish i was a whale 

[oceans]

I wouldn't say Whales are stupid they just know what they are doing and are smart enough to do it and make themselves rich. Any one of us could be a whale we just need to know the means and ways to be just as rich as those who are.

[botany]

I wouldn't say Whales are stupid they just know what they are doing and are smart enough to do it and make themselves rich. Any one of us could be a whale we just need to know the means and ways to be just as rich as those who are.

True. A stupid whale won't be a whale for long. 

[Ayers]

When whales dump, it means at least all these BTC are going in hands of other non whale people. It only takes these people to be intelligent and not panic sell at minimum fear.

The strategy of whales dumping is to get other people to sell as well.... and then pick up btcs at a lower price.

it's better for them to sell at other whales , but they don't know who are the buyers

[RyanPumper]

So, the implied assumption is there are no "whales" in the futures markets? forex, securities etc? Theres whales in every market, Bitcoin is no exception.  If it wasn't for these whales you speak of, bitcoin would have never rallied like it did last year.

[odolvlobo]

When whales dump, it means at least all these BTC are going in hands of other non whale people. It only takes these people to be intelligent and not panic sell at minimum fear.

The strategy of whales dumping is to get other people to sell as well.... and then pick up btcs at a lower price.

A smart whale would never do that because it doesn't work. When the whale dumps, other people buy the dumped btc cheap. Then the price returns to normal and the whale has less than he started with.

[kerafym]

When whales dump, it means at least all these BTC are going in hands of other non whale people. It only takes these people to be intelligent and not panic sell at minimum fear.

The strategy of whales dumping is to get other people to sell as well.... and then pick up btcs at a lower price.

it's better for them to sell at other whales , but they don't know who are the buyers

And don't forget whale eat up all the small fish in one move be it up or down.

[arieq]

what people forget is that the biggest whale of all is us together as a whole

[sherbyspark]

they are giving bitcoin a bad name. price will go down long term because of these disgraceful whales.

Its not right to call them stupid. Whales have the maximum amount of bitcoins, and you can't expect them to hold those massive amount of coins, when the price is going from 600$ to 275$ within a month. They need to protect their investments, and when the whole world panics, they will obviously not hold.

[hasherr]

i think its nice that whale dumps his coins. Price lowers for a while so other ppl can buy coins cheaper. Bitcoin wealth distribution improves. Less whales the better, less ppl who can fcuk with market at their will. It would be perfect if noone owned more than 1 % of all coins.

[TheDragonSlayer]

they are giving bitcoin a bad name. price will go down long term because of these disgraceful whales.

And they are making big bucks so why are they stupid?

[Justine]

they are giving bitcoin a bad name. price will go down long term because of these disgraceful whales.

And they are making big bucks so why are they stupid?

Exactly.

They see too many people trying to get on the get rich quick bandwagon and decided it is time to cash out to those bag holders.

[Sunderland]

Before we accused whale are stupid , do you know how much BTC mined everyday ?
and how many BTC dump everyday to the market ?
Miner need money to pay their daily bill.
This is not 100% fault from miner or whale.

[thirdprize]

someone who is rich is not stupid
you may ask yourself why you are not a whale

This.
Without the poor, no riches.
There must be contrast. Otherwise life is dull.

Haiku Alert!!!

[RodeoX]

You wanted a free market, you got it. Free markets are not kind.  

[ibminer]

You wanted a free market, you got it. Free markets are not kind.  

It's not the market, it's the people in it. A free market could be the greatest & kindest place on Earth if everyone on the planet were kind and had good morals and ethics.  

[RodeoX]

You wanted a free market, you got it. Free markets are not kind.  

It's not the market, it's the people in it. A free market could be the greatest & kindest place on Earth if everyone on the planet were kind and had good morals and ethics.  

That's true. I was assuming people would act in ways that are profitable and competitive. But, as you say, these are choices people may make or not make.

[ibminer]

You wanted a free market, you got it. Free markets are not kind.  

It's not the market, it's the people in it. A free market could be the greatest & kindest place on Earth if everyone on the planet were kind and had good morals and ethics.  

That's true. I was assuming people would act in ways that are profitable and competitive. But, as you say, these are choices people may make or not make.

I think it should be a little more detailed and not as much of a generalization. It sounds like your assuming people would act in ways that are profitable and competitive no matter what ethical or moral guidelines are broken?  

I had assumed...or hoped   ... that there were other ways to be profitable and competitive and that people would act without the need to demean themselves to a lower standard just because they have a small shred of anonymity. But, alas, bitcoin shows glimmers of both extremes, the good and the bad.

I realize there will be plenty of people who are just generally bad people but I feel like there are more of the good guys then the bad, and I hope that people in the bitcoin community do not decide the only real way to make a profit with bitcoins is to start a scam, defraud someone, or manipulate the market. I think this would be bad for bitcoin.

I'll conclude with the fact that money does not make you smart, and not having any doesn't make you stupid. It also doesn't take a genius to get rich, even the ethical way. The majority of rich people I know are NOT rich because they worked hard and earned it. At the end of the day, those rich people likely see me as one of the stupid ones, but I am OK with that. 

[cellard]

You wanted a free market, you got it. Free markets are not kind.  

It's not the market, it's the people in it. A free market could be the greatest & kindest place on Earth if everyone on the planet were kind and had good morals and ethics.  

How incredibly dumb is that logic? That's the same as saying, a communist system could be the greatest & kindest place on Earth if everyone on the planet were kind and had good morals and ethics.  

See? everything can work IF everyone on the planet were kind and had good morals and ethics, IF.

[cellard]

I'll conclude with the fact that money does not make you smart, and not having any doesn't make you stupid. It also doesn't take a genius to get rich, even the ethical way. The majority of rich people I know are NOT rich because they worked hard and earned it. At the end of the day, those rich people likely see me as one of the stupid ones, but I am OK with that. 

This, most people that got rich come from early money distributions (just like rich bitcoin people). Once you inherit 5 millions, it's HARDER to lose them than to keep them.

If you are born in middle class, chances are you'll be stuck there, let alone being legit poor. A breakthrought through the class you are born at is nothing but luck. Working hard and saving = you may become a millionaire, but you'll get to enjoy it where, in the cementery? what a joke.