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Title: how much does it take to move bitcoin bid Post by: gen. specific on September 05, 2011, 06:04:23 PM Hello, since bitcoins are currently unregulated I can freely ask this
How much money does it take to move the bitcoin bid and ask. If I threw $1,000,000 at the buy side will bitcoin go up $5 starting a rally? Similarly if I threw $1,000,000 on the [short] sell side will bitcoin drop to $1 making a nice entry point. Would I even be able to cover? Thoughts appreciated thanks Title: Re: how much does it take to move bitcoin bid Post by: gen. specific on September 07, 2011, 12:52:40 PM bump
Title: Re: how much does it take to move bitcoin bid Post by: MiningBuddy on September 07, 2011, 01:16:19 PM For an easy quick way visit http://mtgoxlive.com/orders and hover your mouse over the price you wish to move to and it will tell you how many bitcoins/$'s are required to do so (assuming you are buying/selling on mtgox exchange)
As for your question on causing a rally I cannot answer that. Title: Re: how much does it take to move bitcoin bid Post by: hannet on September 07, 2011, 10:51:38 PM $1,000,000 is much larger then the entire order book on both the bid and asks sides at all public exchanges. Manipulating the market is certainly possible. However, this is a very risky activity and more likely then not you would not be able to profit from this.
Title: Re: how much does it take to move bitcoin bid Post by: gen. specific on September 09, 2011, 01:35:18 AM I understand this is not necessarily profitable, was just looking for second thoughts and hoping people would provide resources
thanks so far! |