25k btc's are about to be dumped on just bitstamp

[DieJohnny]

I dont think this is manipulation, the sell wall is back every few hours and it is getting smaller. Some large holder is exiting the market in the stupidest fashion possible.

[Cortex7]

wall is being turned on and off, if he's trying to get out quietly he sure is being loud about it 

[marvinrouge]

I dont think this is manipulation, the sell wall is back every few hours and it is getting smaller. Some large holder is exiting the market in the stupidest fashion possible.

Sounds legit, but if each time he creates a wall he sells 3k, why not to make 3k walls

[Cortex7]

What do you think will happen to the price after the order is sold/removed?

Last two times he pulled it, the price went up to 320 ish

Hmmm.. has he gained some control? maybe a technique to lure bids into smaller orders he leaves after the wall is turned off?

no it's just arbitrage eating into his wall. If he left that wall up for a few days I bet it would be eaten.

[williamj2543]

Damn, thats 10 million dollars right there. What will the price be after this order is fulfilled?

[krb91]

What do you think will happen to the price after the order is sold/removed?

Last two times he pulled it, the price went up to 320 ish

I was almost ready to panic buy at $325, but then his $300 wall appeared. Thanks to whoever put that wall there.

[marvinrouge]

I buy some. Just to be a part of this

[RockHound]

What do you think will happen to the price after the order is sold/removed?

Good question - from the other times he entered Bitstamps' Orderbook today, would say the price is going down, but got an irrational feeling that the opposite will happen

[RockHound]

Damn, thats 10 million dollars right there. What will the price be after this order is fulfilled?

Big Dawg scoring cool points with us Bitcointalkers  

Just 21347BTC to go

[RockHound]

Are people just putting orders in @ $299.99? To buy off him

$299.99 keeps getting topped up - Wonder if he will stay once they have all completed @$299.99

[Cortex7]

Wall is being bought at a rate of ~10btc a minute.

If this rate continues it will be gone in ~1.5 days.

21126 now left in the $300 wall.

[Xiaoxiao]

I think this is just a small trick from their bags.  No one shells out 30k btc's like that.  I think the bigger ammos are to come, once this 30k is eaten up and no more buy orders left on exchanges.  Then he shells out the big guns aka 50k stacks and 100k stacks... and good buy to the 300s.

[RockHound]

Wall is being bought at a rate of ~10btc a minute.

If this rate continues it will be gone in ~1.5 days.

Perhaps Bitstamp only allowed this client to exchange for certain periods?? (I don't know)

I'm sure I remember, you have to contact Bitstamp if you want to deposit over a certain amount (it's a lot) I sent over my Superannuation money + savings and was ok (nowhere near this whales $9-10Mil)

[cypherdoc]

there's surely no dump going on.

[serenitys]

Oh...well hell.

I am not a trader so a lot of this was over my head but I think I got it. The manipulator/real seller/bf buddy whale bear man person didn't put up 25k - 30k worth of bitcoin, he put up 25k-30k bitcoinS which would be selling 7 frigging million dollars worth at 300ish?

 

Is that right?

Is that why all the charts flatlined all of a sudden?

And if he was to sell 7 million, it would send the price careening toward single digits?

Is that right?

And the death knell silence happening is waiting to see what happens in the next 24 hours when the day people wake up Monday and discover the 6 million dollar man is holding up bitcoin fun?

So can this person cancel the order to sell all these coins and if so, and he/she did, what would happen to the price at that point?

Also, should I go make popcorn? Is it gonna be one of those nights? Can girls play too because this is seriously interesting to me. 

[Cortex7]

Maybe pressure from the wife...

wife:
honey we want dollars not bitcoins

early adopter:
but the blockchain will free mankind, plus if we wait we can afford a large island with airstrip and helis and jets etc.

wife:
but if you sell today we can get the olympic size pool instead of the regular size.

early adopter:
shit... ok, $300 is my lowest price (deploys THE WALL)

wife:
wow hun your dollar amount no longer says zero in the account, in fact its going up by $3000 a minute... I LOVE YOU HUN!

etc...

[Cortex7]

Oh...well hell.

I am not a trader so a lot of this was over my head but I think I got it. The manipulator/real seller/bf buddy whale bear man person didn't put up 25k - 30k worth of bitcoin, he put up 25k-30k bitcoinS which would be selling 7 frigging million dollars worth at 300ish?

 

Is that right?

correct

Is that why all the charts flatlined all of a sudden?

Yes, good news that they go flat, this means his coins are being bought, other exchanges want to rise in price and some people take advantage (arbitrage) buying cheap $300 coin on bitstamp and selling for a little guaranteed gain on other exchanges.

And if he was to sell 7 million, it would send the price careening toward single digits?

Is that right?

If he were to push "Sell Now" and place a market order then some lucky people on bitstamp would get some very cheap coin.

Then all other exchanges would share the blow through arbitrage.

I'm not sure what the final "stable" price would be, but nowhere near sinlge digits.

And the death knell silence happening is waiting to see what happens in the next 24 hours when the day people wake up Monday and discover the 6 million dollar man is holding up bitcoin fun?

So can this person cancel the order to sell all these coins and if so, and he/she did, what would happen to the price at that point?

Also, should I go make popcorn? Is it gonna be one of those nights? Can girls play too because this is seriously interesting to me.  

The person would be mad to hit "sell now".

We should start to worry if the price drops below the wall and he moves it down.

[krb91]

Maybe pressure from the wife...

wife:
honey we want dollars not bitcoins

early adopter:
but the blockchain will free mankind, plus if we wait we can afford a large island with airstrip and helis and jets etc.

wife:
but if you sell today we can get the olympic size pool instead of the regular size.

early adopter:
shit... ok, $300 is my lowest price (deploys THE WALL)

wife:
wow hun your dollar amount no longer says zero in the account, in fact its going up by $3000 a minute... I LOVE YOU HUN!

etc...

That makes sense. I originally thought it's because he wants the money, but it's probably because she wants the money.

[vuduchyld]

What does the rest of the book look like?  If (s)he hit "sell now" how far down would 30K bitcoins take us?  I went to stamp, but it didn't show the whole thing.

[RockHound]

Oh...well hell.

I am not a trader so a lot of this was over my head but I think I got it. The manipulator/real seller/bf buddy whale bear man person didn't put up 25k - 30k worth of bitcoin, he put up 25k-30k bitcoinS which would be selling 7 frigging million dollars worth at 300ish?

 

Is that right?

Is that why all the charts flatlined all of a sudden?

And if he was to sell 7 million, it would send the price careening toward single digits?

Is that right?

And the death knell silence happening is waiting to see what happens in the next 24 hours when the day people wake up Monday and discover the 6 million dollar man is holding up bitcoin fun?

So can this person cancel the order to sell all these coins and if so, and he/she did, what would happen to the price at that point?

Also, should I go make popcorn? Is it gonna be one of those nights? Can girls play too because this is seriously interesting to me.  

Spot on - who knows where the coins had come from if he deposited BTC to sell or deposited like you said 7-10Mil

During today he has entered the order book with 30,000BTC @ $320, $275 and now at $300

My guess is that he'll probably withdraw from the orderbook again at some point and rejoin later on - wow, decisions, decisions - life of a whale  



Also wouldn't he had been a lot better off selling like just over a week ago @$450?

$150 x 30,000 = $4,500,000 extra ?? I know it's only 4.5mil but still