Nobody bought into the wall

[wobber]

https://www.youtube.com/watch?v=-uX_bB_4VJk&feature=youtu.be

I can see in the vid that Bitstamp starts with 2500 BTC volume and ends with 15,000. The wall was about 26k? So the wall was pulled before all coins we're sold...

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[Elwar]

I remember seeing on bitcoinity the "last transaction" list on the right side with some huge transactions.

[maker88]

26000 coin wall put up, 15000 coins bought = no one bought any? seems like several people bought into the wall, enough to eat more than half of it and force the whale to pull it before they gobbled it all. or am i missing something?

[spazzdla]

When you put up a 26K BTC wall and the BTCers shit all over you wall and annihilate it in less than 12 hours.. you pull out faster than you would with the girl you just picked up at the bar.

[Dilla]

Pretty sure there was a bunch of small buys, then a big 11000btc buy.

[gog1]

what wall?  when did that happened?

[otto93]

Have a look at the charts here. Hover your cursor over the big candle at the end of the $300 sell off and you can see a massive chunk of the wall was bought in the last hour.

http://winkdex.com/#?exchanges=winkdex,bitstamp&range=7D



It says there were 16457.854 bitcoins sold on bitstamp in the last hour of the sale.

[Kupsi]

You can see there was massive buying the last 15-30 minutes of the bearwhale wall.

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

If you look at the one minute chart, you see that the largest buy was max around 4.5k.

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

[otto93]

You can see there was massive buying the last 15-30 minutes of the bearwhale wall.

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

If you look at the one minute chart, you see that the largest buy was max around 4.5k.

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

Thanks, that's exactly what I was looking for. Bitcoincharts provides a great service. Here's screenshots of the charts.

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






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

[nanobrain]

This place gets weirder by the day.
Personally, I hear the wall was skewered by a unicorn controlled by the CIA.

[jaredboice]

https://www.youtube.com/watch?v=-uX_bB_4VJk&feature=youtu.be

I can see in the vid that Bitstamp starts with 2500 BTC volume and ends with 15,000. The wall was about 26k? So the wall was pulled before all coins we're sold...

All I know is I got me some bits at $300.  Whether the seller bought up his own coins or not, he gifted me a cut of the stash!

[otto93]

https://www.youtube.com/watch?v=-uX_bB_4VJk&feature=youtu.be

I can see in the vid that Bitstamp starts with 2500 BTC volume and ends with 15,000. The wall was about 26k? So the wall was pulled before all coins we're sold...

You cannot calculate the total bitcoins sold by adding up only two of the numerous volume bars of a 6 hour sale. The vid screenshot below clearly shows there are more than two volume bars. There are hundreds of volume bars shown during the course of the video.

[piramida]

Even if he managed to pull some part of that wall, he still should be feeling rather played now that the price is breaking 400 just two days later.

[serenitys]

I bought at 325 and 350 so I got a little taste of whale meat too. My first whale. I wanted it to drop under 300s but had it pointed out that the 200s would be more of a loss of faith number and after giving that some thought I had to agree it made sense. Clearly so since it shot up to 390 already. I'll still buy up to 425 though so it's nice to see.

Ohhhh bitcoin!  

[wobber]

As price increases smaller and smaller walls are needed to confine the price. See those walls at Bitstamp of not even 3k coins that are now in place that are doing a good job at keeping price lower than 385.

[derpinheimer]

Not gonna bother reading all of this, but all ~38,000 coins the seller offered were bought.

~10,000 sold at market, the rest eaten from a wall.

[piramida]

As price increases smaller and smaller walls are needed to confine the price. See those walls at Bitstamp of not even 3k coins that are now in place that are doing a good job at keeping price lower than 385.

the other way to look at it - bearwhales are getting smaller every day, more like bearsharks (3000), and soon get down to bearfish (300) or bearplankton (30).

[lucky88888]

To the guy that sold off nearly 30k btc at 300, Dont be depressed you're still 8million+ dollars rich!  

BITCOIN I'M COUNTING ON YOU!!

[derpinheimer]

As price increases smaller and smaller walls are needed to confine the price. See those walls at Bitstamp of not even 3k coins that are now in place that are doing a good job at keeping price lower than 385.

the other way to look at it - bearwhales are getting smaller every day, more like bearsharks (3000), and soon get down to bearfish (300) or bearplankton (30).

The problem with this POV is that it leaves the previous whales, such as this guy who sold nearly 40k coins, as equally larger than before. And according to that chart of sumBTC held by largest addresses, they are growing..

So if BTC:USD grows, they grow exponentially larger. Its not the end of the world, but it comes down to whether or not these are people who want to make some money, or want to become trillionaires later in life.

[serenitys]

Speaking of whale and price crashing...I don't, but in the event it ever happens I have a large number of bitcoins, 30k for instance, and I get a great deal on my own island or a castle or a mega business or whatever and want to "cash out" - what is the best way to do that without crashing the price?

Is it just the amount of bitcoins available via the exchanges being bought and sold that make up its price or does the price include/impact bitcoins held in offline wallets? I keep hearing the suggestion to leave it offline so it doesn't affect the price but not sure how that works.

Selling large amounts of bitcoin or higher valued/priced coins for hard assets, real estate, cars, houses, etc. usually can't be done for now directly with bitcoin so it has to be sold and traded back for fiat. Just need the best way to do that so it doesn't cause one of these events.

Thanks