The Crypto community slays the 30,000 BTC Whalebear

[UnDerDoG81]

Sorry I dont really 100% get it. What exactly happened? He put 30K BTC to sell @300? So he saved BTC to go down way deeper? And now people who wanted cheaper coins are angry because he did this and saved BTC? Or am I wrong?

1. He wanted to make the price tank and buy coins at a cheaper rate = profit.
2. Was simply cashing out 30k coins.
3. Robin hood of BTC.

Ok thanks.

[Dafar]

This article is stupid... it's called BEARWHALE... not whalebear

[Dafar]

Sorry I dont really 100% get it. What exactly happened? He put 30K BTC to sell @300? So he saved BTC to go down way deeper? And now people who wanted cheaper coins are angry because he did this and saved BTC? Or am I wrong?

1. He wanted to make the price tank and buy coins at a cheaper rate = profit.
2. Was simply cashing out 30k coins.
3. Robin hood of BTC.

Makes no sense.... he pretty much crushed any organic growth or rally that could have happened with all the good things going on. Now we are stomped at the $300 level for a long time, the confidence is gone. So he lost money just so he can "pick up cheap coins"? fucking lol.... he could have made WAY more money by letting the price rise. I'm more inclined to believe he was dumping stolen coins, or just wanted fiat w/o any manipulation

[Kprawn]

That is the thing.. you never know what the intentions are from these whales.

They might get a tip, that some other investment would be more provitable and then they sell even at a loss, because the profits from the other endevour, would make up for that loss.

We can speculate all we want, we will never know.

1. A bot panic sell, when threshold was reached. {Configured by the user}
2. A typo or drunk investor 
3. A spiteful whale manipulating the price for greater gain.
4. A experiment gone wrong
5. A Bitcoin hater trying to kill the price, with manipulation.

See how easy it is to speculate. 

The fact of the matter is, the BTC community took the blow and came out firing. BANG BANG POP!

When it happens again, I will be buying more at that LOW price and push it directly into cold storage, to age like old wine. 

[otto93]

Makes no sense.... he pretty much crushed any organic growth or rally that could have happened with all the good things going on. Now we are stomped at the $300 level for a long time

I'm not so sure about that, the price just hit $370 on bitstamp. If it's gone up that fast in three days it might go above $400 in the not too distant future.

[wobber]

I see that the guy pulled the wall... So nobody really bought his 30,000 btc.

[jubalix]

Someone's gonna be crying like a baby when they recall they lost 30,000 BTC at a lousy $300 each!

this, i mean at 100000 per btc, 10e5 x 30e4 = 300 e19 = 3e11 = $300 M.

yep just blew through near of $1/3B

[otto93]

I see that the guy pulled the wall... So nobody really bought his 30,000 btc.

No, he did not pull the wall, people really bought all his 30,000 btc in about six hours.

[jubalix]

I thought the last bit was pulled, a couple of K....

I kinda think this actor had shorted that market near 275 down to 1xx or something in a big way and had the back up plan they could just whale wall it down if they needed to....

[Flatulenters]

what about,

Fancy option:

1: start with fiat capital
2: accumulate bitcoin
3: use accumulated bitcoin to depress price and accumulate even more bitcoin ( the 30kwall)
(4: when accumulated enough according to plan sell part of stash to get some fiat back  ( the 30kwall) and in meantime test the buying pressure at that level)
5: use fiat to (help) push market upwards
6:....(dump at higher price and repeat from 2 or if market gets out of control in bullrun follow along)

30k wall is in to stages. If in stage 3 plan (might have) failed in stage 4 plan succeeded

simple option:

depress price on exchange in order to buy an even bigger amount of bitcoin off exchange at reduced prices.

(and by depress I mean hold stable at low price to avoid bounce long enough to finalize the OTC trade)

*did some nuance edits

[otto93]

I thought the last bit was pulled, a couple of K....

No, you can see they were all sold on the charts below. There were massive chunks sold in the final half hour.

http://bitcoincharts.com/charts/bitstampUSD#rg5zig15-minzczsg2014-10-06zeg2014-10-06ztgSzm1g10zm2g25zv







http://bitcoincharts.com/charts/bitstampUSD#rg5zig1-minzczsg2014-10-06zeg2014-10-06ztgSzm1g10zm2g25zv

[spazzdla]

Sorry I dont really 100% get it. What exactly happened? He put 30K BTC to sell @300? So he saved BTC to go down way deeper? And now people who wanted cheaper coins are angry because he did this and saved BTC? Or am I wrong?

Wat.......? ??

You are so widly wrong I ..... I'm not trying to be a dick here kk.

If I put up a $300 BTC well wall I cap the price from going any higher as why would anyone in their right mind buy BTC at $340 from Exchange A when they can go to Exhcange B and get it for $300.. mind you with arbritrage there is very little difference in price between exchanges for any lenght of time..

Now we have a MASSIVE max price of BTC at $300... nothing.. not a damn thing is stopping me from selling them at $290 then $250 then $200 then $50..

People are speculating the whale bear was attempting to annihilate the price buy putting up a massive sell wall and making it look like whales were cashing out and it was time to sell your shit for w/e you could get creating a fire sale..  Thus getting coins at like $10-$100 a coin..  If this is true.. the whalebear got so slaughtered he is probably crying right now.


My hilarious speculation is Paul K hates being wrong.. so much he droped 9 million to be right.. but we wipped out our cocks, bent him over and showed him some no lube action. (The odds of this being true are very low, I just don't like Paul K he is a POS and a plauge on this planet).

[piramida]

My hilarious speculation is Paul K hates being wrong.. so much he droped 9 million to be right.. but we wipped out our cocks, bent him over and showed him some no lube action. (The odds of this being true are very low, I just don't like Paul K he is a POS and a plauge on this planet).

No, he'd just have sold at market to actually bring the price down to double digits, even though momentarily. That guy definitely wanted to contain the price below 300 for some unknown reason.

[NotLambchop]

...
The fact of the matter is, the BTC community took the blow and came out firing. BANG BANG POP!
...

[BareWail]

This article is stupid... it's called BEARWHALE... not whalebear

You are stupid... it's called BITFURY.. not bearwhale.

There comes a point when you can shake down every VC in the bitcoin space by threatening to tank the price.  Most of these guys would rather pony up than see a month-long price plunge.