"Bearwhale" doesn't exist

[deine mudder]

Bearwhale is an urban legend. What you see is the normal free market. No manipulation to the downside just the impact of the new mined coins being dumped every day.  

If there was manipulation in the market it has always only been to the upside.

I dismiss the bearwhale-theory as an urban legend.

[rebuilder]

You didn't see the 30,000 BTC ask wall when it was put up, did you?

[MemoryShock]

Bearwhale is an urban legend. What you see is the normal free market. No manipulation to the downside just the impact of the new mined coins being dumped every day.  

If there was manipulation in the market it has always only been to the upside.

I dismiss the bearwhale-theory as an urban legend.

It's not a theory.

It was a meme inspired by a very real (and documented) 30,000 BTC sell wall that was put up several months ago.  The community bought it up and the meme was born.

It doesn't need to happen every time there is a price movement down for the occurrence to have been real.  With all due respect, I think that you are posting this in an effort to 'dare' it to happen again.  Unfortunately, that is not how the market works.

On a side note...despite the fact that we have the internet and can reference the occurrence in detail...I do think that it could become an urban legend at some point in the future.  That really depends on where BTC goes...because the story is cool and won't not ever be cool.

[Mervyn_Pumpkinhead]

You didn't see the 30,000 BTC ask wall when it was put up, did you?

I personally think that the 30k wall was put up and bought by the same people. This show was probably a desperate attempt to build some upwards momentum, to get the price out of the steady decline.
The goal was to build confidence on the market that there is a strong demand on sub 300 prices. The truth revealed itself after this little show was over.

[deine mudder]

Sure maybe one-time 30k seller can have occured but that's also 'normal free market action' and no manipulation to the downside like 'the bearwhale' implies.

[sgk]

Sure maybe one-time 30k seller can have occured but that's also 'normal free market action' and no manipulation to the downside like 'the bearwhale' implies.

nobody says the 'Bearwhale' implies manipulation.

It just means someone owned 30,000 BTC (hence the term 'whale') but was 'bear' enough to sell them at the lowest prices at the time.

[Mellnik]

Don't believe anyone who calls themself "Your mother"  

[deine mudder]

Don't believe anyone who calls themself "Your mother"  

Sorry i don't wear suit and ties. 

[Q7]

Then how do you explain the more than 40% price drop in just a 2 weeks time span. Considering the size of bitcoin market cap, you need sizable fund coming from somewhere to drive down the price so quick and so fast.

[deine mudder]

Then how do you explain the more than 40% price drop in just a 2 weeks time span. Considering the size of bitcoin market cap, you need sizable fund coming from somewhere to drive down the price so quick and so fast.

Free market had enough after the exponential trend was broken. Inflationary pressure was too high, not enough new sheep buying. So panic happened. The last big drop IMO is simply the result of the inflation. People called it months in advance.

No new money: price goes down fast

I fail to see manipulation. I do not fail to see supply/demand is not in equilibrium.

[twiifm]

Then how do you explain the more than 40% price drop in just a 2 weeks time span. Considering the size of bitcoin market cap, you need sizable fund coming from somewhere to drive down the price so quick and so fast.

Free market had enough after the exponential trend was broken. Inflationary pressure was too high, not enough new sheep buying. So panic happened. The last big drop IMO is simply the result of the inflation. People called it months in advance.

No new money: price goes down fast

I fail to see manipulation. I do not fail to see supply/demand is not in equilibrium.

There was theory of willy bot manipulating price upwards.  But I think this selling is just people getting fed up.  Bubble burst

[Ibian]

The top 100 and 500 addresses are growing. Not only are there bearwhales, they keep getting mightier.

And this nonsense about miners dumping needs to stop. It's not nearly enough for the kind of price drops we are seeing, even if all of it was getting dumped. Which it isn't.

[deine mudder]

The top 100 and 500 addresses are growing. Not only are there bearwhales, they keep getting mightier.

And this nonsense about miners dumping needs to stop. It's not nearly enough for the kind of price drops we are seeing, even if all of it was getting dumped. Which it isn't.

Yes, top adresses need to buy so pump their own ass. Logical.
So the myth of the high inflation being important for distribution has been debunked with this too. After that theory has been debunked it could be safe to say Bitcoin is economically stupid with that much higher than necessary inflation.

3600 every day not enough to drop the price? So why do people think 30k like the auction or 19k like the bitstamp hack could influence price? After all it's only a week or two of mining. Son, you are actually underestimating those new coins' impact by several orders of magnitude.

The inflation takes at these prices 5000$ from the market every 10 minutes!!!

What do you think where that constant slow bleed is coming from? The 'bearwhale'? haha, no. It's from mining.

[Ibian]

I have no patience for newbies who think they know it all. Another thing that keeps growing is my ignore list.

[deine mudder]

I have no patience for newbies who think they know it all. Another thing that keeps growing is my ignore list.

yes, isolationism and ad hominem arguments is the answer to everything

[XCASH]

Then how do you explain the more than 40% price drop in just a 2 weeks time span. Considering the size of bitcoin market cap, you need sizable fund coming from somewhere to drive down the price so quick and so fast.

Free market had enough after the exponential trend was broken. Inflationary pressure was too high, not enough new sheep buying. So panic happened. The last big drop IMO is simply the result of the inflation. People called it months in advance.

No new money: price goes down fast

I fail to see manipulation. I do not fail to see supply/demand is not in equilibrium.

People guessed a single entity was crashing the price ages before the bear whale revealed himself. I guess the bear whale slowly dumped a hell of a lot of coins before putting up the 30,000 BTC ask wall. I guess there must be other whales as big as the bear whale. The other big holders panic selling one after the other could have contributed to the last crash.

[Morecoin Freeman]

[madmax6688]

Did you make this? Really nicely done!

[esse83]

Hmm.. bearwhale does not show up in the financial list demanded by EU for any tx exceeding €30k in areas where there "is a greater probability of occurrence of money laundering or terrorist financing"*

http://www.uppd.gov.si/si/delovna_podrocja/vsebinska_podrocja/objave_38_clen_zppdft/podatki_o_transakcijah_38_clen_zppdft/ -- Where you find the newest lists.
http://www.uppd.gov.si/fileadmin/uppd.gov.si/pageuploads/NAKAZILA/Arhiv/nakazila_06012014.xls - The most up to date list

* Google translate http://www.uppd.gov.si/si/delovna_podrocja/vsebinska_podrocja/objave_38_clen_zppdft/

edit: Actually I think I might have a good candidate for who bearwhale is even though the dates dont add up:

5496   10.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   999 099   840
5495   10.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   999 099   840
5494   10.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   999 099   840
5493   10.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   999 099   840
5492   10.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND.   BERMUDA, HM DX HAMILTON, BERMUDI   999 099   840
5491   10.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   999 099   840
5490   10.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   49 888   840
5489   10.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   999 099   840

5449   04.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND EMERGING   BERMUDA, HM DX HAMILTON, MALTA   999 099

5397   02.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, MALTA   999 099
5396   02.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, MALTA   999 099
5395   02.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, MALTA   604 937
5394   02.12.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, MALTA   999 099

26.11.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   999 099
25.11.2013   BITSTAMP LIMITED   5 JUPITER HOUSE CALLEVA PARK, ALDER, BERKSHIRE, VELIKA BRITANIJA      BITCOIN SUB-FUND   BERMUDA, HM DX HAMILTON, BERMUDI   999 099

So only in december those guys cashed out ~€11,6 million euro - and if we add late november we are at €13,6 million - about $16million dollars.

Think its pretty obvious who has been in complete control of the price of bitcoin over at stamp Both the pumps and dumps are lead by those guys - http://bitcoinfund.eu/

Nice timing getting out before stamp collapsed.

edit: Jon Matonis wrote an article about bitcoinfund for forbes http://www.forbes.com/sites/jonmatonis/2013/03/08/first-bitcoin-hedge-fund-launches-from-malta/ - For those that don't know, he was the former executive director of bitcoin foundation.

[findftp]

Bearwhale is an urban legend. What you see is the normal free market. No manipulation to the downside just the impact of the new mined coins being dumped every day.  

If there was manipulation in the market it has always only been to the upside.

I dismiss the bearwhale-theory as an urban legend.

A bearwhale to me means a lot of little bears combined together.
Once they know they are wrong, they will all go long again.
Bears are afraid and just looking at each other waiting for the first move.