Nobody bought into the wall

[BitCoinNutJob]

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

Can anyone confirm there was an 11k BTC buy? cant remember seeing that, if so wow someone was really keeping a ton of fiat on bitstamp.

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[otto93]

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

Can anyone confirm there was an 11k BTC buy? cant remember seeing that, if so wow someone was really keeping a ton of fiat on bitstamp.

The chart below shows it was some big buys in a short space of time, not just one 11k BTC buy. It looks like there was a 4.5K buy, a 3K buy, a 1.5K buy, a 1K buy, and loads of other little buys in the last half hour.

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

[derpinheimer]

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

Can anyone confirm there was an 11k BTC buy? cant remember seeing that, if so wow someone was really keeping a ton of fiat on bitstamp.

There was not. The largest was a bit over 2.5k. Right around that was another buy around 1.8k or something, so the charts like that may show "4k", but it was actually 2 separate orders.

Here is the spreadsheet that shows all the orders, again: https://docs.google.com/spreadsheets/d/1ZZaXtuRJ_Ppo1_R2UczZSIpyreGjxpUMDsimbPneGq4/pubhtml?gid=928136785&single=true

[hyphymikey]

OP fail

Silly bears trying so hard.

[derpinheimer]

OP fail

Silly bears trying so hard.

TBH I'd consider it bullish if the wall was pulled and not eaten.

[criptix]

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

Trades on exchanges are much more visible then OTC trades, but both influence the price to a certain degree.
The best way to sell a large chunk of btc would prolly be a otc trade. You avoid slippage and alot of security risks regarding exchanges.

/edit

 i went to bed after the wall shrunk from 26 to 16 k.

[serenitys]

Thank you

I did too. I thought the site was broken because it was this for several hours. I got tired of watching and then the "minnow attack" began. 

[johnyj]

The 26k sell wall @$300 was put there by a large whale to scare people to sell coin to his 200+ coin buy wall @$299.99, to get more coins cheap. But it seems he could not squeeze out enough panic sellers' coin. So he eventually bought the majority of it back with his other accounts and cancelled the rest

If those coins got eaten by a large whale, then he lost 10000+ coins at low, the operation failed

[derpinheimer]

The 26k sell wall @$300 was put there by a large whale to scare people to sell coin to his 200+ coin buy wall @$299.99, to get more coins cheap. But it seems he could not squeeze out enough panic sellers' coin. So he eventually bought the majority of it back with his other accounts and cancelled the rest

If those coins got eaten by a large whale, then he lost 10000+ coins at low, the operation failed

..what? This is so wrong I don't even. This had been discussed to death. The wall was eaten by regular traders. His intent was to sell ( why is debatable, but he did want to sell them )

And it was 38,000 coins.