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Title: Serious question about the market fluctuation Post by: Matthew N. Wright on July 26, 2011, 12:04:17 AM Title: Re: Serious question about the market fluctuation Post by: hugolp on July 26, 2011, 05:14:31 AM If a lot of people decided to sell a lot of bitcoins no matter the price and no matter where they come from (Deepbit, someone cashing out, etc...) without a similar influx of buyers then the price of bitcoins would drop.
Currencies are just like any other product, they follow the law of supply and demand. Increase of supply, same demand = price goes down. This is very simple. The hard part is to predict the changes in supply and demand, and that is why predicting the price is so difficult. Title: Re: Serious question about the market fluctuation Post by: JoelKatz on July 26, 2011, 05:21:12 AM If my math is correct, Deepbit mines about 2,556BTC per day on average. If I were Deepbit, and I wanted to cash out on the 5,000Gh/s+ I had: Deepbit is a pool. The bitcoins they mine aren't theirs. They can't sell them.Quote I am truly curious about this because I might someday be in possession of that many BTC and want to know any negative consequences of selling off. Since people would have to buy bitcoins to give them to you, there would likely be no significant net negative consequences. In fact, the more things people can buy with bitcoins, the more bitcoins stay in circulation rather than getting cashed out. |
