Who the hell is selling all these PPC

There’s a huge amount of PPC on sale on btc-e, kind of weird to see such massive offers, especially with ltc rallying and XPM performing a 3x in 24hrs. At least 500k have been sold in this range between 145-125, blocks of 10k are offered like it was peanuts coming out of thin air. I guess it’s an early adopter with a huge stockpile to unload. No other explanation. Does it know something we don’t know? This massive offer is just baffling.

Must be the same guy who spread the tesla rumor some days ago.

Big bag holders, early adopters, BTC-E’s minted coins, miners. There are so many options.

At present, every day generates 2000 PPC by PoW. Miners can sell PPC at current low price and still have profits.
Traders can trade PPC by selling at high and buying at low. For instace, selling PPC at 0.33 and buying back PPC at 0.29.
Trader also can short PPC to make profit at btc-e. pillow and Thireus already discussed this issue a lots.

I don’t think there is any relationships between current PPC price trend and prospect partnership with Tesla.

big bag holders: possibly, they got scared when they saw the price fall under 001, so now they are taking advantage of the recent bounce to unload the truck. in this case it would be weak and stupid hands giving away coins at very low price to the smart money. I wish this were the case.

early adopters: if so they belong to the first category. the price hasn’t gone below 00130 for almost 18 months, except the recent fall where it traded just a little volume, so it’s not someone who bought low and selling at a profit here, must be an early adopter who paid almost nothing for them or mined with POW over 2 years ago.

btc-e minted coins: no way… over 500k PPC has been sold in a very short time, PPC has very low inflation, lower than BTC, it should constantly rise vs btc, ceteris paribus, not fall… on top of 2.2M PPC only 800k are mined EACH YEAR! btc can’t have possibly mined more than 100k in the last year.

miners: they sell costantly, they don’t accumulate and dump it all in a short timeframe. 500k+ have been sold in the last 2-3 weeks alone! and 800k are mined EACH YEAR at this rate of inflation.

big bag holders: possibly, they got scared when the saw the price fall under 001, so now they are taking advantage of the recent bounce to unload the truck. in this case it would be weak and stupid hands giving away coins at very low price to the smart money. I wish this were the case.

early adopters: if so they belong to the first category. the price hasn’t gone below 00130 for almost 18 months, except the recent fall where it traded just a little volume, so it’s not someone who bought low and selling at a profit here, must be an early adopter who paid almost nothing for them or mined with POW over 2 years ago.

btc-e minted coins: no way… over 500k PPC has been sold, PPC has very low inflation, lower than BTC, it should constantly rise vs btc, ceteris paribus, not fall… on top of 2.2M PPC only 800k are mined EACH YEAR! btc can’t have possibly mined more than 100k in the last year.

miners: they sell costantly, they don’t accumulate and dump it all in a short timeframe. 500k+ have been sold in the last 2-3 weeks alone! and 800k are mined EACH YEAR at this rate of inflation.[/quote]

Traders can sell and then buy back, again and again… 500K+ is not much.

I tell you because I trade PPC more than ltc and btc (in cash market of course, ppc has no futures and I trade btc and ltc futures). 500k it’s a lot, there are not 500k that could have been traded in this range. and you know why? because we have bought most of it in the recent fall, and we haven’t sold shit.

Well you c o uld test your guess with looking up recent activities in the top 100 addresses

On the other side someone must have bought all those coins.
The question is who is the dumb money here?
I think i have an idea 8)

Which is? :slight_smile:

I don’t have the answers, but I agree with arbitrageur. Especially this makes a whole lot of sense to me:

[quote=“arbitrageur, post:5, topic:3546”]big bag holders: possibly, they got scared when they saw the price fall under 001, so now they are taking advantage of the recent bounce to unload the truck.

early adopters: if so they belong to the first category. … must be an early adopter who paid almost nothing for them or mined with POW over 2 years ago.

miners: they sell costantly, they don’t accumulate and dump it all in a short timeframe.[/quote]

I got no insider info or anything, but my gut feeling is that the AltCoin VS BTC rally happening now, is going to fail and turn down. Very soon.

Are you working with a group?

Are you working with a group?[/quote]

kind of.

have you noticed that btc38 made more volume than btc-e in the last 24 hrs?

come on you chinese monkeys! (no offence intended)

PWLbHVhzwjTi21PFn32h42x1y2DbjPaWFi is one of the dumpers (he might not be alone), early adopter from 2013 who sent about ~150K coins to BTC-E (PDH9AeruMUGh2JzYYTpaNtjLAcfGV5LEto) on the 15-16th of April 2015 and 11th of May 2015. The coins have been traded (sold) on BTC-E already.

You’re welcome.

Proof:
https://bitinfocharts.com/ppcoin/address/PWLbHVhzwjTi21PFn32h42x1y2DbjPaWFi (early adopter)
https://bitinfocharts.com/ppcoin/address/PHqbxa1u3hWQDdsWqoDhxJWZrGC5DMMaUV (temporary wallet)
https://bitinfocharts.com/ppcoin/address/PDH9AeruMUGh2JzYYTpaNtjLAcfGV5LEto (BTC-E)

Oh, and for those who are wondering, he still has 250K PPC in his wallet. :slight_smile: But if he sold a big chunk at such low price I don’t expect him to hold the rest to Pluto… Chances are that he might be in trouble with BTC-E now to justify this stash of cash he brought to the platform (as this is becoming quite a trendy attitude from BTC-E nowadays).

Wow, great detective work Thireus!

Will ppc price reach $100?

great info thireus, very much appreciated.

what do you mean by that?

The coins were initially stored on PN38i2cU9p2oKeg6XHxyoy8jUCypoSNdB9, and all coins were moved on the 25th of Nov. 2015 to the address we know sent the coins to BTC-E.

If you trace back PN38i2cU9p2oKeg6XHxyoy8jUCypoSNdB9, you find out that these coins were generated on PL76PDTYrgPz4KAXRg1r2Y8YFARf9m3Ynr [s]and more than that, that the very fist mined coins were sent to this address and mined the “2013-04-11 05:19:01” just a few hours before D7 Peercoin Pool’s announcement.

I would make a safe bet on saying that these coins belong to D7 Peercoin Pool’s admin, aka [member=49]chemicstry[/member]. Feel free to ask him :).[/s]

Edit: So actually, I was wrong on that initial date, so this is maybe not the Pool’s admin but a user named “Unknown”, see my other posts below.