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[Devin Chow]

..

[jaybits]

I think BearWhale feels great with Millions in the bank.  Simple as that.

[ANTIcentralized]

The bearwhale would not need to use dozens of accounts, he would only need to use one account in addition to the one he used to place his sell order.

I believe that he was probably trying to push down the price artificially in order to buy bitcoin at an artificially low price.

I would guess that he probably made a bot/script to buy up to 30k bitcoin at a price no greater then $300 (his selling price) and was hoping that people would try to trade ahead of him, pushing down the price and allowing him to eat up these orders at a lower price.

[fewcoins]

Cool story bro... You have joined the approx. 999,999 guesses that are out there & are similar to 900K of them! Why doesn't someone try to contact bitstamp & find out exactly what happened?! Im sure you'll be surprised!!!

[Unbelive]

Step 1: Put 30,000 sell order in attempt to make the public believe you are trying to "push down" the price. This gives the average Joe the impression that the whale is trying to manipulate the price. (i.e. push it down)

Step 2: Average Joe "realizes" that this person is intentionally trying to manipulate the price. Thus, average Joe believes, "I'm smarter than that...I'm not falling for it!"

Step 3: Bearwhale rebuys the majority of the coins he tried to "sell" via many smaller purchases across dozens of Bitstamp accounts.

Step 4: Average Joe sees how fast the coins are eaten and thinks, "Look at that volume! People are buying the entire order! Look at the demand! We're headed up."

After all the coins are eaten up...the demand doesn't subside because the Average Joe is still thinking, "We're going up because of how quickly that wall was eaten...yada yada yada."

We go up 33% in a week as a result. Bearwhale lost a little bit to people that bought some of his coins...and commissions, but overall...he's up, a lot.

Bearwhale anticipated this. Bearwhale is a smart guy.

What do I think? I think Bearwhale is probably awesome at chess.

I doubt he would be good at chess. And with 30k coins i would do other things then self buy them for fun.

[Wandererfromthenorth]

I don't think the BearWhale ate his own wall, here's why:


1. He could have done it at Huobi for free (and would have got more attention) instead of Stamp (with the higer fees and fucked up fee structure)

2. His coins were sitting in his wallet untouched since April 2013. Are you telling me that this guy had 9M dollars at bitstamp and then after more than a year he just moved 30k untouched bitcoins to bitstamp for the stunt paying a lot of fees for nothing?

https://twitter.com/dan_pantera/status/519294855999406081

[nomoreheroes7]

Guys...it was me.

I am the bearwhale.

[MF Doom]

Doesn't sound impossible, actually sounds quite possible.  He probably got in at 500 or more and wanted to earn some money back!

[piramida]

Bearwhale anticipated this. Bearwhale is a smart guy.

The wall was up for 8 hrs. 8 hour volume at stamp, on a slow day, is around 10k coins. See where I'm getting at? I know I have a portion of that wall, and many people do, and I assume the volume was much higher than usual even without possible bearwhale buying. The last part of the wall - about 15k coins - went very quick, that could be him, maybe, possibly. But making much money on that? I don't see it. Just waiting would've been a much better strategy )

[adaseb]

That guy with the 30,000 BTC sell order was an early adopter.

If you look at the wall thread, somebody found his wallet and he has been accumulating coins from 2012-2013. He sold some every few months to take profit and I guess he got out at $300.

[MrBig]

Interesting story, but without proof it's simply conjecture.

[Asrael999]

That guy with the 30,000 BTC sell order was an early adopter.

If you look at the wall thread, somebody found his wallet and he has been accumulating coins from 2012-2013. He sold some every few months to take profit and I guess he got out at $300.

or Butterflylabs  who took pre orders on asic miners all the way through 2012 and 2013. Maybe after the feds came down on them like a ton of bricks after multiple complaints from bitcoiners due to their general shitness they decided to say f*ck you bitcoinland and decided to dump all their remaining coins on the market in a now backfired revenge attack.

Unlikely - but who knows anything can happen.

[spazzdla]

Interesting story, but without proof it's simply conjecture.

This is the speculation section.

[abs350]

Occam's razor:

The simplest explanation is most probable

Ergo, your explanation is most likely bullshit

[NamelessOne]

I believe this to be exactly what happened. 

[okthen]

If he's a whale, he should know it's more profitable (and less risky) to wait.

[maker88]

Occam's razor:

The simplest explanation is most probable

Ergo, your explanation is most likely bullshit

Hey falling did you miss where he said shut the fuck up? He didn't say fewcoins, he said falling. As in shut the fuck up across all of your shill accounts.

[gog1]

Whatever the real story behind the order, it is the past and history.  How high can we go before it comes down again is the question.

[ElectricMucus]

Whatever the real story behind the order, it is the past and history.  How high can we go before it comes down again is the question.

Not if the Bearwhale was really Bitstamp selling fake coins, then it has just begun.

[inca]

Whatever the real story behind the order, it is the past and history.  How high can we go before it comes down again is the question.

Not if the Bearwhale was really Bitstamp selling fake coins, then it has just begun.

Jesus. We get it you are underwater with your shorts. But please.