I am the BearWhale: UASF Now! 1 Bitcoins

I feel like a war-torn vet in a room full of new recruits.

I've been in cryptos since 2011. I know some have been here longer. Respect to you all.
tl;dr "I've seen some shit."
The company I originally bought my bitcoins from (for $10, biting my nails at a Walmart customer service counter), BitInstant, was shut down and it's founder was jailed.
I bought mining hardware through Butterfly Labs. I didn't receive my miners till it was too late, and I was never able to recoup my cost. The company was shut down and they reached a settlement with the FTC.
I managed to get my remaining coins out of Mt Gox shortly before it too went belly-up, its founder charged with embezzlement.
I perused the Silk Road before it was shut down and Ross Ulbricht was imprisoned. (I never bought drugs; only found the site to be to be an incredible experiment in freedom.)
Although I did not participate, I was there when Bitfinex was hacked, and when ether forked from DAO. And on, and on, and on...
I've seen bubbles come and go. I've seen diarrhea-inducing volatility. I've abandoned all sense of price normalcy.
I was literally there watching my screen when the BearWhale was slain. I've hodled. I know what it means to be "gentlemen." I know the difference between a Satoshi and a Dorian. I've seen Bitcoin die a hundred times.
I've seen the Bitcoin community grow toxic over scaling. I've seen censorship, division, and alienation. I've seen some cryptos rise to be worthy contenders to Bitcoin's dominance, and I've seen others turn to dust.
I've also made life-changing profits.
These growing pains aren't going to cease any time soon. You don't survive as an early adopter in this space unless you stay on your toes and take the appropriate precautions. I can't stress this enough.
The truth is, it's fucking stressful. I spend hours and hours researching and worrying about what I should do. Just last night I dreamt our house burned down and I lost everything. Not just that, but "loose lips sink ships" so to speak. Sometimes I think I should just shut up about it all.
But I ain't done riding this wave. It's moon or bust. And I'm proud to be a part of the cryptocurrency community.
submitted by dernialzertski to Bitcoin [link] [comments]

r/bitcoin recap - May 2017

Hi everyone!
I’m back with the fifth monthly Bitcoin news recap.
I seriously can’t believe all of this stuff happened in ONE month.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in bitcoin and save them. At the end of the month, I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
If you're on mobile and can't see the links below, check the web version.
A recap of Bitcoin in May 2017
Thanks to everyone who has been contributing positively and constructively over the past month.
Here's to June! (and SegWit)
submitted by SamWouters to Bitcoin [link] [comments]

Open Letter From a Casual Investor

Dear Bitcoin community (all of it),
I've been investing in Bitcoin since 2012 and have seen many ups and downs over the past 5 years. I was a big believer for a while, I stuck around during the last hardfork, during the Mt. Gox collapse, during the dark days of the Bearwhale, during the Paycoin/GAW scam, after Mike Hearn's rage-quit — point is, I've been around.
Like most people, I have a pretty minimal understanding of the underlying cryptography and code of Bitcoin itself. I'm in this for two reasons:
  1. I like the idea of a currency that is governed by math, not governments.
  2. I have so far made money on it and believe I can make more as the idea takes deeper and deeper root.
Now, here's the thing: Bitcoin is getting harder and harder to use. I can't just send Bitcoins to someone anymore. I've stopped evangelizing about it because I don't want to get embarrassed by a 40-minute transaction and because I don't want to pay a dollar to send a dollar.
I don't care what fixes it. But right now, it's broken as far as the average user concerned.
Segwit, to be honest, sounds like an unnecessarily complex 'solution' that may or may not address the issue. But raising the block size limit (ideally making it dynamic) just sounds like the best, most practical solution to a person like me who does not have the time or inclination to read through scores of scientific whitepapers or scour line after line of code.
My point is this: I'm not buying Bitcoins anymore. In fact, I'm shorting them heavily. Ethereum is the new game in town, and right now, it's on track to win out long term. Because: 1. It's not broken. If I send Ether, it arrives. 2. The fees aren't out of control. A few cents — as it should be. I'm not being punished for actually using the coin. 3. Devs listen to the community. Not the other way around. 4. They had the balls to fork.
The DAO incident and the ensuing debate over Ethereum Classic were settled. The Ethereum blockchain is fine and Ethereum Classic is becoming a footnote for the hardliners to rally around.
So, to the BU/Classic devs, I say the time has come. This has gone on entirely too long. Quit waiting for permission from the Chinese miners. They are after a fee market and will draw it out as long as they can. The first rule of economics: "People will do what they are incentivized to do.".
The power of Bitcoin's persuasion does not lie in its hashing power. It lies in investors and users like me. If we have a useful coin, we will turn it into a profitable coin, which will make it a coin worth mining.
We're not going to settle this with anything other than a fork. "Consensus" will only come when there are actually two options. So, let's do it. Let's take the short term hit to the price by releasing this thing into the wild.
The better coin will win out eventually. Be it Segwit, BU/Classic, or Ethereum, or Monero, or Litecoin, or any other coin out there.
I personally think it may already be too late, but the time has long since come.
Bitcoin must evolve now or die a slow death.
submitted by The_Ugliest_Man_Ever to btc [link] [comments]

Where Art Thou, Bullwhale? Or, Why I Am Disappointed in the Markets Lately

I have to say, I'm a bit disappointed in the markets lately. In order to be able to say that here, though, I'll have to include a paragraph or two's worth of disclaimers throughout to head off some of the most popular retorts. Please, allow me to elucidate, and in the process indulge in a lazy Sunday thought experiment:
I'm disappointed, not because the Bearwhale entity is back (after smartly waiting for the market to unwind some pent-up bullish exuberance), but mainly because the market isn't doing a damn thing about it. Again. I've bemoaned this situation in the past, but I don't think I clarified my views well enough. If I may, I'd like to take another shot:
The Bearwhale's strength seems to be that that their actions, when present, serve to either establish or reinforce the prevailing downtrend. That trend is then followed by the herd, who have been conditioned so many times that "the trend is their friend" that most don't even think twice about it. While this seems to be the main feedback loop that the Bearwhale relies on, the downtrend is also further exacerbated by the constant selling pressure from miners, as well as hodlers loaning their BTC out for crumbs (not realizing that their collective actions serve to devalue their holdings way more than those crumbs they receive in return).
While the Bearwhale entity's goals are nearly impossible to determine with any confidence, their tactics are certainly to be admired. They are taking great advantage of some very powerful market forces—the reflexivity of the market, combined with the "tragedy of the commons" inherent in two areas: mining, and availability of margin—to effectively corner the market downwards for their benefit.
To be clear: this isn't the part I'm disappointed in, though. The fact that they're back and are continuing doesn't surprise me, either, given not only that they've been doing it so effectively and for so long, but also that exactly this sort of behavior was predicted almost three years ago:
Bitcoin takes the monetary system back essentially a hundred years. We know how to beat that system. In fact, we know how to nuke it for profit. Bitcoin is volatile, inherently deflationary and has no lender of last resort. Cornering and squeezing would work well - they use mass in a finite trading space. Modern predatory algos [...] would rapidly wreak havoc.
So, while I am weary of the effects of the Bearwhale's actions this year, I am neither disappointed nor surprised by them. After all, as Right_In-The-Pussy astutely pointed out, "free market something something". What I am disappointed by, though, is that no entity or entities in this glorious free market, throughout all this time, have deemed the situation worthy of responding by putting the screws to the Bearwhale in return.
(At this point, a commotion is heard as a hundred traders rush to leave comments filled with scathing retorts of smart-assery.)
Now, hear me out here, folks.
Let's first take a step back, and examine the situation at large:
If we surmise that the Bearwhale operates roughly as laid out above (and more or less as speculated throughout this forum) it is probably fairly safe to assume that "the beatings will continue until morale improves"; that is, that they will probably keep up their dumping scheme unless and until the market pushes back strongly enough to convince them that the support is no longer worth fighting at that level.
This is a grim prospect for Bitcoin, because the longer this keeps up and the lower we go, the less likely it will seem to be that the Bearwhale is benevolent (i.e. manipulating out of self-interest or related motives, but ultimately interested in and aligned with Bitcoin's long-term success). It becomes exceedingly likely that they are purely profit-driven, and will have no qualms about trying to drive the price straight into the ground. As has been noted many times on this forum and elsewhere, this can and will wreak havoc on the entire ecosystem: mining, merchants, VC investments, adoption, exchanges...you name it.
Which is why, when the Bearwhale continued to push the market downwards into the lower $300s and beyond (with more and more traders gleefully shorting alongside them), I posted this:
It's really less about profit, and more about the ratio of profit vs. progress. These days, there's too much of the former going on at the expense of the latter, and nobody seems too worried about offing the golden goose in the process.
At these price levels, we are starting to exceed certain tolerances; Bitcoin may be Honey Badger, but Honey Badger can't continue to lose this much blood without feeling some very negative long-term effects. As we continue to slide, Bitcoin's prospects (first growth, then viability in general) increasingly come into question.
So, the question that should be on the mind of all Bitcoin faithful is: what can be done about this? The situation is grim: hodlers are stuffed to the gills and despondent, miners are only as faithful as the protocol forces them to be (100 blocks), margin trading is toothpaste that can't be put back in the tube, and the ten-month downtrend is a positive feedback loop that almost ceaselessly continues to spread pain and suffering....

Enter the Bullwhale: the Hero We Don't Deserve, but the One We Need Right Now

Ok, fine...we don't need a Bullwhale—the markets at large could (and probably eventually will) coalesce like a school of fish around some "way too low" price point, establish unyielding support, and send a resounding message (as happened recently at $300). In the meantime, we could all wait around and see how low the Bearwhale will take us, and what sorts of very unfortunate things happen in the interim as a result. One way or another, Bitcoin will most likely survive...and the scars will add character, right?
But gosh, we certainly could use a Bullwhale's help here. We could use some now more than ever, but really, we needed one ever since the Bearwhale got started putting their boot to the market's neck earlier this year. Hell, a Bullwhale's job would have been much easier back then—having at their disposal a vast army of bubble believers and lunar lunatics which has since then gradually eroded. In the interim, bulls have not just been decimated, but almost put on the endangered species list at this point.
So, who could save Bitcoin from the beatings and turn the market around? A variety of actors could step in, and like the Bearwhale, the most important factor is the scale at which they can operate—their intentions could be benevolent, selfish, or a combination; it doesn't so much matter, as long as the effected direction is up.
This could be someone from the idealogical crowd like Byrne & Co., wanting to stick it to the entrenched market establishment; maybe Soros, wanting to further an Open Society (and in the process, lending more credence to his theories of fallibility and reflexivity); or Draper, the Winklevii, Silbert, et. al., wanting to protect their investments and further their Bitcoin-related aspirations; or perhaps one or more early adopters with some choice connections for fiat liquidity, weary of watching their beloved protocol get beat down and their holdings depreciate.
It could be an entity with potentially mixed motivations...like Google, for example: they could adopt Bitcoin in a flash and spark a rally, positioning themselves as the market leader of an open ecosystem of the kind that they like, while also raking in a boatload of money in the process. Paypal, Amazon, etc. could make similar plays, though I suspect they're less likely to do so.
Or, it could be an actor every bit as selfish as the Bearwhale entity—just a mirror image of them. Someone who realizes that there's more to be made in the long term supporting Bitcoin's growth rather than sabotaging it.
After all, the powerful market mechanics harnessed by the Bearwhale can be harnessed equally well by a Bullwhale. Those that have been around long enough know what it looks like when these kinds of forces finally turn around. All it takes is a convincing reversal on high volume (like we had at $300), followed up by some continued encouragement (which we didn't have, in turn giving the Bearwhale the encouragement they needed to start messing around again). If timed right, not much encouragement is even needed; just enough to convince the market that the Bearwhale has been neutered.
How? Send some chunky wires to all the major exchanges, and then simply wait to reverse the playbook on them. 400 BTC is dumped in a minute? Buy up 600 the next. 800 follows, ten minutes later? Enter a 2,000 BTC market buy. How long until the Bearwhale gets the message? And even if they don't, more critically: how long until the market does?
Traders may be hard to convince at first—and the skepticism can't be blamed at this point, given how long this has been allowed to drag on. But again, a few plays straight from the Bearwhale's playbook (but reversed) will do the trick: a couple of three- or four-digit BTC buys in the morning, two or three hours apart...a couple more buys of similar magnitude in the evening...and some salubrious support in the meantime—say, a 300 BTC wall, with another 1,000 not far behind it?—will turn bears into bulls faster than you can say "irrational exuberance."
The first-mover advantage will be massive.
Sooner than one might think, the artificial trend will have morphed into a real one. Daily Discussions will once again be filled with traders quibbling about whether $3k or $8k will me a more appropriate cash-out point in the oncoming bubble. Miner selling will dry up, and margin longs will break the stratosphere. Potential Bearwhale-like attacks just need to be quickly countered for a little while longer, and inevitably rabid, foaming-at-the-mouth FOMO will take over, a rush of new participants will flood in...and, well, we know what happens from there. At this point in this and any related scenario, it would appear that the ceiling becomes a lot higher than the floor; that is, that we'd likely go up a lot higher than we could have ever possibly gone down (about $350, as of this writing).
So...why hasn't it happened? Where art thou, Bullwhale? I am disappointed by thine absence.
As always, constructive discussion is welcomed and appreciated.
submitted by two_bit_misfit to BitcoinMarkets [link] [comments]

Here is why I think we saw a Bitcoin price correction in 2014

First of all I'd like to say these is my opinion and by no means universal truth. In case you disagree with some points please be so kind to present your reasoning in comments.
So the list of factors pushing the price down are:
  1. Over 1,3 million newly mined bitcoin. Because the price of bitcoin reached crazy hights at the end of 2013, all the newly mined bitcoins are suddenly worth a fortune. Since miners have huge electricity costs and require return on money invested in mining hardware and equipment (we're talking big millions), we can safely assume majority of bitcoins mined will hit the market. Also, the effective supply of coins increased significantly more than it seems at first glance since many of the pre-existing coins are dormant, even lost, and not actively consisting the supply on the market. Newly mined coins are more likely to be dealed with caution (less coins lost forever) and more likely to be used actively (higher amount of speculators, traders, shorting,...).
  2. Profit of bitcoin businesses. Any exchange fees or payment processor's profits are essentially the dollars invested into the crypto world being sucked out of bitcoin purchases. This includes the money to finance all the business activities, rents, salaries etc. of those companies. Consider this plain example. Investor invests 10k and channels it on the exchange. In the process of buying bitcoin total fees (buyer's, seller's, FX rate..) amount to 1k. The amount bitcoin and the market actually receives is 9k usd only as he could buy 18 btc at 500 usd for example.
  3. (unlikely)mtgox and many stolen coins of 2014 hitting the market. Also, point 1 and 2 should be amplified by all the altcoins, not just bitcoins alone because of the connections in the markets.
What do you guys think? I personally believe 2014 was a success for the bitcoin. With the strength of network we have and the amount of btc daily mined we are doing pretty good. The slaughter of a bearwhale especially was a total confidence booster.
Happy New Year!
submitted by natri to Bitcoin [link] [comments]

This just happened

This just happened submitted by rydan to Buttcoin [link] [comments]

Price fundamentals haven't changed. Crash still incoming?

Price fundamentals haven't changed after the 275$ crash:
Also, let's talk about bitcoin's potential killer apps:
Given this, while I'm sure there will be more bubbles, I'm not expecting any in the immediate future.
Furthermore, I'm expecting an even worse crash since all those buyers at 300$ will sell if the price bounces back under 300 in the next few days.
I'm currently sitting on the sidelines with 0 BTC left and I'm waiting for the <100$ crash. Unfortunately I have neither the right type of account nor the confidence that the market 'exuberance' after the whale harpooning won't go for longer than I can keep a short open.
Edit: Please note that I'm mostly talking about the short term here: 1 week to 3 months. Longer term anything might happen. Edit: I'm down to 0 BTC.
Edit: The more I think about this the more sure I become of the coming second crash. Also, and thanks to your comments, I'm also more sure of bitcoin's bright future (long term, at least 6 months before price start to reflect it again).
Back to trading - be on the lookout for waning exuberance. If price gets 'stuck' or starts going back down there won't be a floor until maybe 100. The previous 260/275$ floor has moved to 300$ as a bearwhale unloaded 30k there. Most of those who bought @300$ won't want to be bagholders and will sell if it hits 300$. And 30k is a lot to sell! Some will even sell early to take profits. And the books are very thin back to 300$....
Edit: They can't say they haven't been warned: http://www.reddit.com/Bitcoin/comments/2ih1us/psa_please_dont_invest_more_than_you_can_lose/
submitted by nqudex to BitcoinMarkets [link] [comments]

The truly defining Post-MtGox moments when Bitcoin turned from Bearish to Bullish

Bitcoin's prices actually went much lower than they had been during the late 2014 'Bearwhale' episode, on two occasions in 2015 - in January (BitStamp wallet hack) and in August (when the bitcoin scaling blocksize debate first began to really brew some public drama and negative attention).
Afterwards, in October '15, the price started marking new highs every single week, cited to be due to capital controls pressure in China, until by the first week of November '15 it had more than tripled vs. the mid-August '15 low of ~$162-180 just 10 weeks prior.
This rise - even in spite of the subsequent corrective crash back to $300 - began in earnest the period of "The Halvening 2016" BTC mining block reward reduction supply/demand hype which led to another exponential price rise starting in May '16 and then crashing at various times throughout the summer, notably due to the BitFinex hack in August - which sent prices tumbling as low as the $460's on BitStamp - from the ~$780 early summer peak.
Nevertheless, prices consolidated in an upward momentum right away, and by late October '16 they'd reached $700 for the first time again since June, ushering in the latest fast growth phase which would go on in turning Vinny Lingham's bold prophecy into reality. By mid-December the continuous price increase was reaching vertical levels, which surprisingly did not end by Christmas day or NYE, and was only interrupted at last on January 5th 2017 by a severe yet relatively short-lived crash caused by PBoC Chinese exchange regulation changes.
Prices recovered thereafter, with the bubbly upward momentum still yet ongoing to this day, as not 1 but 3 "BTC ETF's" are awaited to be approved or denied by the US SEC next month.
So, we find that, contrary to some popular myths, the turning point for BTC sentiment & price only manifested itself an entire year later than the 2014 Bearwhale Event.
submitted by Post-Cosmic to Bitcoin [link] [comments]

Where Art Thou, Bullwhale? Or, Why I Am Disappointed in the Markets Lately [x-post r/BitcoinMarkets]

Originally posted in BitcoinMarkets. Cross-posting here because it seems quite appropriate—plus, it's been so gosh-darn quiet in this sub lately that I can hear myself think.
I have to say, I'm a bit disappointed in the markets lately. Please, allow me to elucidate, and in the process indulge in a lazy Sunday thought experiment:
I'm disappointed, not because the Bearwhale entity is back (after smartly waiting for the market to unwind some pent-up bullish exuberance), but mainly because the market isn't doing a damn thing about it. Again. I've bemoaned this situation in the past, but I don't think I clarified my views well enough. If I may, I'd like to take another shot:
The Bearwhale's strength seems to be that that their actions, when present, serve to either establish or reinforce the prevailing downtrend. That trend is then followed by the herd, who have been conditioned so many times that "the trend is their friend" that most don't even think twice about it. While this seems to be the main feedback loop that the Bearwhale relies on, the downtrend is also further exacerbated by the constant selling pressure from miners, as well as hodlers loaning their BTC out for crumbs (not realizing that their collective actions serve to devalue their holdings way more than those crumbs they receive in return).
While the Bearwhale entity's goals are nearly impossible to determine with any confidence, their tactics are certainly to be admired. They are taking great advantage of some very powerful market forces—the reflexivity of the market, combined with the "tragedy of the commons" inherent in two areas: mining, and availability of margin—to effectively corner the market downwards for their benefit.
To be clear: this isn't the part I'm disappointed in, though. The fact that they're back and are continuing doesn't surprise me, either, given not only that they've been doing it so effectively and for so long, but also that exactly this sort of behavior was predicted almost three years ago:
Bitcoin takes the monetary system back essentially a hundred years. We know how to beat that system. In fact, we know how to nuke it for profit. Bitcoin is volatile, inherently deflationary and has no lender of last resort. Cornering and squeezing would work well - they use mass in a finite trading space. Modern predatory algos [...] would rapidly wreak havoc.
So, while I am weary of the effects of the Bearwhale's actions this year, I am neither disappointed nor surprised by them. After all, as Right_In-The-Pussy astutely pointed out, "free market something something". What I am disappointed by, though, is that no entity or entities in this glorious free market, throughout all this time, have deemed the situation worthy of responding by putting the screws to the Bearwhale in return.
Let's first take a step back, and examine the situation at large:
If we surmise that the Bearwhale operates roughly as laid out above (and more or less as speculated throughout this forum) it is probably fairly safe to assume that "the beatings will continue until morale improves"; that is, that they will probably keep up their dumping scheme unless and until the market pushes back strongly enough to convince them that the support is no longer worth fighting at that level.
This is a grim prospect for Bitcoin, because the longer this keeps up and the lower we go, the less likely it will seem to be that the Bearwhale is benevolent (i.e. manipulating out of self-interest or related motives, but ultimately interested in and aligned with Bitcoin's long-term success). It becomes exceedingly likely that they are purely profit-driven, and will have no qualms about trying to drive the price straight into the ground. As has been noted many times on this forum and elsewhere, this can and will wreak havoc on the entire ecosystem: mining, merchants, VC investments, adoption, exchanges...you name it.
Which is why, when the Bearwhale continued to push the market downwards into the lower $300s and beyond (with more and more traders gleefully shorting alongside them), I posted this:
It's really less about profit, and more about the ratio of profit vs. progress. These days, there's too much of the former going on at the expense of the latter, and nobody seems too worried about offing the golden goose in the process.
At these price levels, we are starting to exceed certain tolerances; Bitcoin may be Honey Badger, but Honey Badger can't continue to lose this much blood without feeling some very negative long-term effects. As we continue to slide, Bitcoin's prospects (first growth, then viability in general) increasingly come into question.
So, the question that should be on the mind of all Bitcoin faithful is: what can be done about this? The situation is grim: hodlers are stuffed to the gills and despondent, miners are only as faithful as the protocol forces them to be (100 blocks), margin trading is toothpaste that can't be put back in the tube, and the ten-month downtrend is a positive feedback loop that almost ceaselessly continues to spread pain and suffering....

Enter the Bullwhale: the Hero We Don't Deserve, but the One We Need Right Now

Ok, fine...we don't need a Bullwhale—the markets at large could (and probably eventually will) coalesce like a school of fish around some "way too low" price point, establish unyielding support, and send a resounding message (as happened recently at $300). In the meantime, we could all wait around and see how low the Bearwhale will take us, and what sorts of very unfortunate things happen in the interim as a result. One way or another, Bitcoin will most likely survive...and the scars will add character, right?
But gosh, we certainly could use a Bullwhale's help here. We could use some now more than ever, but really, we needed one ever since the Bearwhale got started putting their boot to the market's neck earlier this year. Hell, a Bullwhale's job would have been much easier back then—having at their disposal a vast army of bubble believers and lunar lunatics which has since then gradually eroded. In the interim, bulls have not just been decimated, but almost put on the endangered species list at this point.
So, who could save Bitcoin from the beatings and turn the market around? A variety of actors could step in, and like the Bearwhale, the most important factor is the scale at which they can operate—their intentions could be benevolent, selfish, or a combination; it doesn't so much matter, as long as the effected direction is up.
This could be someone from the idealogical crowd like Byrne & Co., wanting to stick it to the entrenched market establishment; maybe Soros, wanting to further an Open Society (and in the process, lending more credence to his theories of fallibility and reflexivity); or Draper, the Winklevii, Silbert, et. al., wanting to protect their investments and further their Bitcoin-related aspirations; or perhaps one or more early adopters with some choice connections for fiat liquidity, weary of watching their beloved protocol get beat down and their holdings depreciate.
It could be an entity with potentially mixed motivations...like Google, for example: they could adopt Bitcoin in a flash and spark a rally, positioning themselves as the market leader of an open ecosystem of the kind that they like, while also raking in a boatload of money in the process. Paypal, Amazon, etc. could make similar plays, though I suspect they're less likely to do so.
Or, it could be an actor every bit as selfish as the Bearwhale entity—just a mirror image of them. Someone who realizes that there's more to be made in the long term supporting Bitcoin's growth rather than sabotaging it.
After all, the powerful market mechanics harnessed by the Bearwhale can be harnessed equally well by a Bullwhale. Those that have been around long enough know what it looks like when these kinds of forces finally turn around. All it takes is a convincing reversal on high volume (like we had at $300), followed up by some continued encouragement (which we didn't have, in turn giving the Bearwhale the encouragement they needed to start messing around again). If timed right, not much encouragement is even needed; just enough to convince the market that the Bearwhale has been neutered.
How? Send some chunky wires to all the major exchanges, and then simply wait to reverse the playbook on them. 400 BTC is dumped in a minute? Buy up 600 the next. 800 follows, ten minutes later? Enter a 2,000 BTC market buy. How long until the Bearwhale gets the message? And even if they don't, more critically: how long until the market does?
Traders may be hard to convince at first—and the skepticism can't be blamed at this point, given how long this has been allowed to drag on. But again, a few plays straight from the Bearwhale's playbook (but reversed) will do the trick: a couple of three- or four-digit BTC buys in the morning, two or three hours apart...a couple more buys of similar magnitude in the evening...and some salubrious support in the meantime—say, a 300 BTC wall, with another 1,000 not far behind it?—will turn bears into bulls faster than you can say "irrational exuberance."
The first-mover advantage will be massive.
Sooner than one might think, the artificial trend will have morphed into a real one. Daily Discussions will once again be filled with traders quibbling about whether $3k or $8k will me a more appropriate cash-out point in the oncoming bubble. Miner selling will dry up, and margin longs will break the stratosphere. Potential Bearwhale-like attacks just need to be quickly countered for a little while longer, and inevitably rabid, foaming-at-the-mouth FOMO will take over, a rush of new participants will flood in...and, well, we know what happens from there. At this point in this and any related scenario, it would appear that the ceiling becomes a lot higher than the floor; that is, that we'd likely go up a lot higher than we could have ever possibly gone down (about $350, as of this writing).
So...why hasn't it happened? Where art thou, Bullwhale? I am disappointed by thine absence.
As always, constructive discussion is welcomed and appreciated.
submitted by two_bit_misfit to BitcoinThoughts [link] [comments]

BITCOIN BOUNCE IMMINENT or BEAR FLAG DUMP!?! Institutions BUYING ALTCOINS NOW! Russia Becoming a Bitcoin Whale? BIG Bitcoin Move Coming Slaying of the BearWhales!! This NEEDS TO HAPPEN!! Bitcoin History: Slaying of the Bear Whale - Resist and Bite BITCOIN EXTREME DUMP POSSIBLE!!! Global MELTDOWN! Oil ...

Hello. I am the BearWhale. After a series of bad experiences with the banking system, I invested most of my life savings into bitcoin when the price was fairly low, around $8. For years I was a HODLer. I was holding when Trendon Shavers ripped everyone off. I was holding when the price was over a thousand, and I held after MtGox imploded. I believe strongly in Bitcoin’s decentralized promise ... Bearwhale Bitcoin Market. On Thursday, one of Bitcoin’s most celebrated moments was remembered, and its enduring mystery was finally resolved. The notorious person referred to only as ‘the ... The biggest whale on Bitfinex known to the Bitcoin (BTC) community as Joe007 vanished, as the price of the top-ranked cryptocurrency by market capitalization hit $10,000. Joe007 left with a farewell letter, describing his time on Twitter as an “experiment.” He also removed himself from the Bitfinex Leaderboard, no longer showing his trades and the […] but I do not understand what a bearwhale is…. submitted by /u/omnifecint . 1 Bitcoins. Bitcoin News and Search . 1 News -24 7 News -24 7 Bitcoin -1 Search. Search for: Posted in Bitcoin News, News, Reddit Tagged 247 Bitcoin, Bitcoin, Bitcoin News, Bitcoins, BTC, Reddit. Leave a Reply Cancel reply. You must be logged in to post a comment. Search for: Categories. Categories. Featured Articles ... The most profitable trader on Bitfinex disappeared after the Bitcoin price hit $10K in a stunning 150% rally since the Black Thursday crash. The biggest whale on Bitfinex known to the Bitcoin community as Joe007 vanished, as the price of the top-ranked cryptocurrency by market capitalization hit $10,000.Joe007 left with a farewell letter on May 7 on Twitter—which can no longer be seen after ...

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BITCOIN BOUNCE IMMINENT or BEAR FLAG DUMP!?! Institutions BUYING ALTCOINS NOW!

#Bitcoin remains trapped in the massive descending triangle. Will it end just like 2018? $BTC natural long-term power-law corridor of growth still on track f... Whats going on Everyone. Thanks to research by Zero Hedge, a Bitcoin whale sighting has been identified attached to a public address. Indicating a gradual buy in to Bitcoin from Feb 9 to Feb12 2018. But Bitcoin was not broken that day. A grueling struggle ensued, and over the course of several hours, the entire BearWhale ask wall was demolished, satoshi by satoshi. The vigilant light of a ... 8:18 Miner capitulation 11:54 Lightning network vs miners 12:53 Tron poll bots 13:38 Millennials fuel BTC 16:24 Craid is (still) not Satoshi 18:56 🔥 Ledger Giveaway 🔥 🔹Buy BTC on Coinbase ... Tether VS XRP, Rich Dad Bitcoin Dad, New Libra, Bitcoin Mining Race & Stablecoin Savings - Duration: 27:21. The Modern Investor 15,477 views. New; 27:21 🔵 Why Am I So Confident There Will Be ...

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