Quote from: ifxist on June 19, 2014, 02:37:19 AM

Quote from: Soul_eater_123 on June 18, 2014, 10:06:32 PM

Quote from: sntry on June 18, 2014, 09:38:22 PM

Quote from: declensions on June 18, 2014, 09:25:30 PM

Watch what the order book looks like after I remove all my sells.
Dirty, right? That's just one of many tricks whales use.

If i had all day i would sell into that 4 btc wall until it gets cleared out and push it even lower.
I wouldn't lose any money because my average price is much lower than this. However, I know there is very little supply below 4k at this point so I am not going to give up my coins cheap and risk having to buy them back higher. You saw what happened after it hit 3400 yesterday, it immediately bounced to 4000. I did that doing what I just showed in the video.

Also, at this point I would only be benefiting the other whales who have 40+ btc in buy orders spread out below 3500. Think about it logically, who else would leave 10 btc walls up for a week unless they had over 100 btc to play with? In other words, they are supporting this price range and would not let it drop below 3k or they would lose money.

dang that is crazy.

Just wondering, what does this kind of market manipulation mean for SC's future, presumably you'd want to get the price back up prior to dumping everything right?

It's the same for all altcoins. The money supply for alts=BTC supply which is tiny compared to the fiat money supply. Until altcoins can be traded without BTC (i.e. directly in and out of fiat) this problem will continue, whales will find it easy to manipulate the markets and generally any one coin's gain will be another's loss. If the direct fiat trade issue could be solved whales will start to lose their power significantly.

Can't we just purchase alt-coins directly from fiat at https://www.vaultofsatoshi.com/ without BTC?

your right I think we can buy it there with fiat