Quote from: Devin Chow on October 14, 2014, 05:35:56 AM

Step 1: Put 30,000 sell order in attempt to make the public believe you are trying to "push down" the price. This gives the average Joe the impression that the whale is trying to manipulate the price. (i.e. push it down)

Step 2: Average Joe "realizes" that this person is intentionally trying to manipulate the price. Thus, average Joe believes, "I'm smarter than that...I'm not falling for it!"

Step 3: Bearwhale rebuys the majority of the coins he tried to "sell" via many smaller purchases across dozens of Bitstamp accounts.

Step 4: Average Joe sees how fast the coins are eaten and thinks, "Look at that volume! People are buying the entire order! Look at the demand! We're headed up."

After all the coins are eaten up...the demand doesn't subside because the Average Joe is still thinking, "We're going up because of how quickly that wall was eaten...yada yada yada."

We go up 33% in a week as a result. Bearwhale lost a little bit to people that bought some of his coins...and commissions, but overall...he's up, a lot.

Bearwhale anticipated this. Bearwhale is a smart guy.

What do I think? I think Bearwhale is probably awesome at chess.

I doubt he would be good at chess. And with 30k coins i would do other things then self buy them for fun.