Quote from: dooglus on November 28, 2015, 04:50:37 AM

Quote from: smooth on November 28, 2015, 01:11:44 AM

What the digger said was:

Quote from: curious on November 19, 2015, 05:37:53 PM

Yes, it is true that I am digging and selling my CLAMs for BTC. Though I am not dumping hard. I usually just put asks above the market price. I rarely ever do a market sell order. So although I am adding sell pressure to the price by adding asks to the orderbook, I am not "dumping" technically.

So if you saw "waves of selling" either:

A. Digger isn't telling the truth about not dumping

B. Digger is telling the truth and the dumper was:

1. Unrelated
2. Someone else who figured out the same thing dooglas figured out before he posted it
3. Someone dooglas told about his findings before posting them
4. Dooglas
5. Someone spooked by the increase in above market sell orders.

Even if the digger never did anything other than selling into existing buy orders, the price would still drop. Selling into buy orders removes buy orders from the market without removing sell orders, leaving an imbalance. The price will adjust downwards as new sellers find less attractive buy orders remaining.

He claimed not to sell into existing buy orders.

Quote

I did sell some CLAMs immediately before making my first post and didn't tell anyone else about it. I think it was around 5000 CLAMs that I sold. The price had already fallen from ~0.012 to ~0.0075 before I sold anything as I remember it, so it wasn't 3 or 4 in your list that started the price collapse.

That could have been one of the "waves" of selling being reported though. If I recall correctly, at the time most alts were being battered (as they are now) by an inverse correlation with the BTC price rise. So the original (much smaller) drop could possibly have had nothing to do with the digger at all (#1 above), but then one thing led to another. Coincidences do happen.