Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer. Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I'm of the opinion that a large buyer is purchasing off exchange blocks and dumping on exchanges to build a massive and cheap stash. Nothing else makes much sense. Sure people panic but many of the sales come when you would least expect someone to panic

This guy already has a massive stash. This behaviour is not of someone selling to buy back cheap. It just isn't.

It's not buying back. It's setting his price on exchanges so he can buy off-exchange.

Miners / bitpay, ect use exchange prices to sell blocks. Drive down the exchange price and you get a lot more btc for your money

You would think that the miners could figure out a way to manipulate the price upwards then, for their own benefit? Perhaps seriously slowing down mining when the price is this low or using some cash reserves to pump up price to sell higher?

This idea that miners are selling off exchange baffles me a bit. Maybe there is something that I don't understand, but aren't miners just shooting themselves in the foot by selling off exchange. Wouldn't they just be giving someone else the power to suppress the price while at the same time losing any buying pressure on the price. If this turns out to be big miners trying to squeeze out inefficient miners, then I can see this taking a very long time to play out.

try to sell 10 k + coins on bitstamp and watch what will happen with the price.

True. I guess it is a question of slippage, but if those are mined coins then they are being used to suppress price anyways. I guess it works out for the miners as long as the sellers don't overdo it.