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

[Cortex7]

I'm thinking engineered rally. Recent dumps and superbuys were to test market sentiment, then when the time is right (may or may not be now, no way to tell) make it look like things are changing. Or something like it.

If the wall gets devoured were gonna see some pent up rebound for sure. all those buyers at 300 will hold for ROI all at once, but most being profit whores they will probably sell at $310

[vuduchyld]

I'm thinking engineered rally. Recent dumps and superbuys were to test market sentiment, then when the time is right (may or may not be now, no way to tell) make it look like things are changing. Or something like it.

If the wall gets devoured were gonna see some pent up rebound for sure. all those buyers at 300 will hold for ROI all at once, but most being profit whores they will probably sell at $310

Not me!  I just bought to hodl

[jasonjm]

wall is actually getting eaten pretty damn fast

[vuduchyld]

I'm going to bed soon.  The way it looks, this wall is NOT getting pulled as it did earlier today...twice.  If I sleep for 7 hours, it sure looks as though the wall will still be here.

[jasonjm]

nah its been through 6000 coins in last 2 hours

and europe is waking up soon

if the wall gets eaten all the way through and isnt pulled, when its at approx 1000 coins I might risk a big purchase as punt, 100 or 200 coins

[williamevanl]

This is fucking insane.

Massive dumping to surely follow.

Why?

I suppose because people are clearly worried about Bitcoin crashing back to double digit figures and all signs point to this happening. It's not just moving in that direction, it's accelerating each day.

[Hunyadi]

No one is selling cheaper  No one wants to sell 

[Cortex7]

I'm thinking engineered rally. Recent dumps and superbuys were to test market sentiment, then when the time is right (may or may not be now, no way to tell) make it look like things are changing. Or something like it.

If the wall gets devoured were gonna see some pent up rebound for sure. all those buyers at 300 will hold for ROI all at once, but most being profit whores they will probably sell at $310

Not me!  I just bought to hodl

Excellent, I think you'll be well positioned for the short and long term.

Cheap coin at the moment IMO.

This wall test is proving that the market's not a bear but a sleeping bull.

[Cortex7]

No one is selling cheaper  No one wants to sell 

I see a couple of small orders <1btc sneaking in at 299.xx now and then.

[SlipperySlope]

No one is selling cheaper  No one wants to sell 

Plus, according to Bitcoin Wisdom, the Chinese exchanges are reporting prices $10 higher than the ask wall on Bitstamp. Who would sell on Bitstamp if they had a choice?

[Cortex7]

So the wall is gone for now, leaving a wide flat crater in the bitstamp price chart:



It looks like maybe ~14k bitcoins were purchased from it. Many being sold on other exchanges (arbitrage).

Most exchange users were probably oblivious to the wall and so it was driven over with just a bump.

Below we can see that this big wall only put a temporary 5% dent in BTC-China:



The wall builder lost about $300,000 doing this crazy move.

Very bullish news for bitcoin.

You hodling yet? maybe you should....

[FUR11]

It's awesome, that those BTC have been just gobbled up, instead of being dumped again and again. Also, that there hasn't been any catastrophic panic is a very good sign for Bitcoin in general! It fosters the long-term trust, in my opinion!

[serenitys]

The wall builder lost about $300,000 doing this crazy move.


wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.

[FUR11]

The wall builder lost about $300,000 doing this crazy move.


wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.

Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.

[neurotypical]

How long do you think it will take to eat through the wall?

seller is hoping never, hoping he will cause a panic sell off

This. Do you think you if had 25 BTCS you would sell at the SAME price creating a ridiculous wall? this is all manipulation.

[Cortex7]

The wall builder lost about $300,000 doing this crazy move.


wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.

He received about $4.2 million after selling ~14k coins

300k is like having a 7% withdrawal fee, that's an ouch for anyone.

He made arbitragers happy though, note he pulled the wall just after it started getting eaten hard, when the arbitrage gains started to rise against china.

Having had so much coin I'm guessing he's ridden over several bubbles/corrections in the past, a puzzling move for sure.

[serenitys]

Wow...okay.

 

[spazzdla]

Soooooooooooooooo

Fallin, servo, etc.. how mad is your boss Paul K that his plan has failed HHHHARD?

On a level of 1 to jumping out a window?

[Cortex7]

The wall builder lost about $300,000 doing this crazy move.


wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.

Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.

The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.

[cypherdoc]

The wall builder lost about $300,000 doing this crazy move.


wall builder made what, 7-10 million so that's probably pocket change...pay 300k to make 10 million.

Did he? How do you come to this conclusion? Maybe he was speculating on a continuing drop, any by using the upswing from the flash-crash (if we may call it that), he was effectively using the combined buy-back power from everyone in order to liquidate his position at once.

The move was not good strategy, he should have monitored all other exchange prices to get a read on the real upward pressure being applied to his wall and moved his wall up accordingly. To just leave it at $300 and maybe go to bed was crazy.

Exactly. Which makes me think it was a bank or non economic agent.

Otoh, the increasing balances in many early adopter addresses doesn't jive with that. Do you have any specific evidence it was an early adopter?