Bear Whale exposes Dirty Roger Ver

[bitbee99]

I'm not sure if you have read this but here it is:

source:
https://www.reddit.com/r/Bitcoin/comments/6d2tp1/i_am_the_bearwhale_uasf_now/

A signed version of this message can be found here https://pastebin.com/Lp5Djs5R

Hello. I am the BearWhale. After a series of bad experiences with the banking system, I invested most of my life savings into bitcoin when the price was fairly low, around $8. For years I was a HODLer. I was holding when Trendon Shavers ripped everyone off. I was holding when the price was over a thousand, and I held after MtGox imploded. I believe strongly in Bitcoin’s decentralized promise of displacing immoral national currencies.

The price kept drifting downwards until finally at a little over $300 I had enough. I sold off everything, based on an accumulation of information I gathered mostly from social media such as bitcointalk.org and reddit:

• The block size limit of 1MB was a threat to bitcoin’s future
• “Satoshi’s vision” was unlimited block sizes
• Gavin was ousted by a cabal of self-interested engineers, a.k.a. “Blockstream”
• Blockstream took control of bitcoin’s source code repository
• Theymos colluded with Blockstream to censor block size increase discussions
• The subreddit r/bitcoin heavily censored block size increase discussions
• Blockstream wanted the block size low to promote its proprietary Lightning Network
• Gregory Maxwell was a bad actor and Luke-Jr was a religious nut
• The market agreed with the above, leading to the then-decline in price towards $300

At this point I should state that I am a highly technical person. I understand all of the math behind the bitcoin whitepaper and the software that powers it. Although, I am not a security expert nor am I a cypherpunk - only a little experience in the type of adversarial thinking necessary to be a competent steward of the technology. I don’t regret selling, as I made an enormous profit. The decision was a rational one based on available information. However, in 2017 I went all-in on bitcoin again and here’s why:

None of the supposed facts which motivated my decision to sell were correct. It was all a carefully crafted and funded disinformation campaign launched by Roger Ver and his cronies, perhaps Jihan Wu, to discourage improvements to the bitcoin protocol to achieve financial gain at the expense of the community.

Once I recognized the moves to discredit the core developers for what it was, a covertly operated smear campaign fought on social media, funded by enormous enrichment from bitcoin, carried out with sock puppets and appeals to emotion, I looked at bitcoin and the greater community again with a more critical eye and I came to the following conclusions:

• Bitcoin is working great: look at the fees people are willing to pay
• Resistance to poorly thought out protocol changes is a feature not a bug
• Core developers are highly competent, from reading the mailing list
• SegWit is incredibly well engineered to create the least network disruption
• The subreddit r/btc is filled with negativity and meaningless attack
• Roger Ver is a con man who uses his bitcoin.com domain to push his agenda
• Bitcoin mining is centralized due to Bitmain’s temporary monopoly on retail hardware
• ASICBoost is an exploit which has broken some economic incentives of bitcoin
• Absent Bitmain, bitcoin the currency is far superior to altcoins

Although I am of course an adult fully responsible for my decisions, I want to make it clear that Roger Ver’s agenda was successful at convincing me that bitcoin had a “governance crisis” and was at risk of being overtaken by altcoins.

My reason for this open letter s simple: I want the community to know that I fully support the core developers. I am strongly in favor of UASF as a mechanism for liminating the centralizing effect of miner control illusions. I support SegWit as a sensible technology for moving Bitcoin forward. I reject a block-size increase hard fork at the present time. I reject a phony “compromise.” And I especially resent and reject a consortium of suits coming to an “agreement” on what source-code base will be named “bitcoin” without that code base being thoroughly vetted over a suitable long time-frame by industry professionals. Those industry professionals include Gregory Maxwell and most of the people who participate regularly on the bitcoin developers mailing list and contribute pull requests to the bitcoin-core repository.

tl;dr; I am the BearWhale: I sold Bitcoin for the wrong reasons, and now I am all-in and long bitcoin again.

 

[AdrianX]

tl;dr; I sold Bitcoin for the wrong reasons, and now I am all-in and long bitcoin again.

That's the only comment that could carry weight, his praise for Core and finger pointing is nothing but BS.

 

[Bloomie]

He doesn't specify what financial gain Roger Ver was trying to achieve by allegedly creating this drift.

Bitcoin does have a governance crisis. Two top developers quit, and a commercial entity is dictating the roadmap for development. That's why you have people in suits telling you what to do.

 

[bitbee99]

So what is the truth about roger ver and why doesn't andreas antonopolus tell us


who is this bearwhale, i am suspicious about this person and why he wants to hide his identity
if he was a real man he would show his face

 

[AdrianX]

http://www.cnbc.com/2014/10/09/bitcoins-bearwhale-and-the-future-of-a-cryptocurrency.html

Who knows, lots of nouveau riche in bitcoin, whoever it is did a great job decentralize bitcoin holdings. that's assuming its the same entity.

The reasons given for the sell doesn't coincide with the dates the "new bearwhale" gave of the sell - the block size debate started heating up in late 2015, bearwhale sold in 2014

I suspect it's Propaganda FUD.

 

[Bloomie]

@AdrianX

"It was a very immaturish way to liquidate that amount of coin," said Brendan O'Connor, managing director for trading at SecondMarket.

Adding that the resulting market dip "ruined my Sunday," O'Connor explained that as far as he and his team can tell, someone put the sell order on Bitstamp . . . and then removed it and replaced it several times. Ultimately, he said, the trader was able to sell roughly 26,000 bitcoins for about $7.8 million.

"I have to tell you, it doesn't make any sense at all from a trading standpoint," O'Connor said. "It's the last way in the world you would actually want to liquidate a large position like that."

What is a proper way to liquidate a whale position?

 

[AdrianX]

@Bloomie I would think it is to use Dark pools some exchanges give them nice sounding names like Gemini’s daily two-sided auction. https://gemini.com/auction-data/ most dont publish the rate hens "dark" https://gemini.com/auction-data/

The trade today 29th looks bullish its above market rate for large order.

 

[Bloomie]

Thanks for explaining the purpose of those auctions to me.