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Title: Euromillions €100 million jackpot Post by: ekissane on October 02, 2014, 03:22:56 PM Out of curiosity, if I won this jackpot tomorrow evening and spent it all buying bitcoins, what do you think it would do to the price of bitcoin?
Title: Re: Euromillions €100 million jackpot Post by: Elwar on October 02, 2014, 03:25:10 PM With the value of the euro going down I think you could buy a cup of coffee with that.
Title: Re: Euromillions €100 million jackpot Post by: ekissane on October 02, 2014, 03:44:28 PM With the value of the euro going down I think you could buy a cup of coffee with that. At the moment BTC is going down in value a lot quicker than the euro unfortunately.Title: Re: Euromillions €100 million jackpot Post by: Unbelive on October 02, 2014, 04:09:35 PM You might become second richest bitcoin holder.
Title: Re: Euromillions €100 million jackpot Post by: hyphymikey on October 02, 2014, 04:17:17 PM I'm not even sure there are enough bitcoins out there for you to buy, at least on the exchanges.
You would have to make a deal OTC with large holders, merchants, and miners. I had a dream once that I won the Powerball, $250M USD and market bought every coin on the exchange up to the ATH. Completely effing over the whale bear thats been putting up large walls lately. Title: Re: Euromillions €100 million jackpot Post by: inca on October 02, 2014, 04:28:51 PM I'm not even sure there are enough bitcoins out there for you to buy, at least on the exchanges. You would have to make a deal OTC with large holders, merchants, and miners. I had a dream once that I won the Powerball, $250M USD and market bought every coin on the exchange up to the ATH. Completely effing over the whale bear thats been putting up large walls lately. Now that would be a black swan. Can you imagine the excitement? It wouldn't just be you buying, there would be a frenzied mania of unbelievable proportions :) Title: Re: Euromillions €100 million jackpot Post by: sgbett on October 02, 2014, 04:38:17 PM It would be interesting to see if the mere depositing of millions of dollars at the exchange triggered a mysterious unexplained rally ;)
One for the conspiracy crowd there! Title: Re: Euromillions €100 million jackpot Post by: hyphymikey on October 02, 2014, 05:07:59 PM It would be interesting to see if the mere depositing of millions of dollars at the exchange triggered a mysterious unexplained rally ;) One for the conspiracy crowd there! If thought about this as well. I would just get lawyers to have a meeting with the exchange operators all at the same time around the world, bring in a suit case full of cash, and make sure nobody touches anything while the lawyer and the operator put in market buys at the same time. Otherwise they would front run like crazy knowing you are about to buy it all up. Title: Re: Euromillions €100 million jackpot Post by: jjacob on October 03, 2014, 04:53:04 AM It would be interesting to see if the mere depositing of millions of dollars at the exchange triggered a mysterious unexplained rally ;) One for the conspiracy crowd there! If thought about this as well. I would just get lawyers to have a meeting with the exchange operators all at the same time around the world, bring in a suit case full of cash, and make sure nobody touches anything while the lawyer and the operator put in market buys at the same time. Otherwise they would front run like crazy knowing you are about to buy it all up. If that happens, just make an announcement that you cancelled your plans. And watch the price drop again like crazy. ;D Title: Re: Euromillions €100 million jackpot Post by: zimmah on October 03, 2014, 05:52:41 AM It depends on if you instantly buy it on a single exchange (which may not even be possible).
Or make a deal with some miners (or mining pool), or buy slowly over the course of a few months. If you instantly buy, the price will rise quickly but only for a couple of hours at most, before it returns back to nearly the old value, which would be a massive waste of money. Title: Re: Euromillions €100 million jackpot Post by: Unbelive on October 03, 2014, 11:42:24 AM I'm not even sure there are enough bitcoins out there for you to buy, at least on the exchanges. You would have to make a deal OTC with large holders, merchants, and miners. I had a dream once that I won the Powerball, $250M USD and market bought every coin on the exchange up to the ATH. Completely effing over the whale bear thats been putting up large walls lately. He should go slow. Might take months, and for sure would push price up. Forcefully spend all those millions would be spiting in your own food, since you would push price really high and soon after you will change all money into BTC, price would go on free fall. you would lose lots of wealth this way. It would take months to buy that much BTC at least slightly normally. |