376 918 Btc down to $1

[istar]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

What if Pirateat40 does just that.
What if that is in his interest to do so?
Maybe he is working on a competitor to Bitcoin ie another micropayment system or payment company.

That would mean he would get plenty of dollars. Now he can buy all those cheap < $1 Bitcoins.
And thus give his interest rate with Bitcoins back to those who invested.
That would also mean he would kept his promise get rich doing so and make Bitcoin look like a joke.

[Garr255]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

What if Pirateat40 does just that.
What if that is in his interest to do so?
Maybe he is working on a competitor to Bitcoin ie another micropayment system or payment company.

That would men he would get plenty of dollars. Now he can buy all those cheap < $1 Bitcoins.
And thus give his interest rate with Bitcoins back to those who invested.
That would also mean he would kept his promise get rich doing so and make Bitcoin look like a joke.

The informed will buy while the emotional and panicked sell

[istar]

Sure but all the bad press will hurt Bitcoin for a long time.

[Garr255]

Sure but all the bad press will hurt Bitcoin for a long time.

It will surely cause some commotion and distress, as would happen with any asset losing nine tenths its value, but Bitcoin is definitely more valuable than $21,000,000 so the true value per coin will always be above $1, and that's not even including USD inflation...

[kneim]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

What if Pirateat40 does just that.
What if that is in his interest to do so?
Maybe he is working on a competitor to Bitcoin ie another micropayment system or payment company.

That would mean he would get plenty of dollars. Now he can buy all those cheap < $1 Bitcoins.
And thus give his interest rate with Bitcoins back to those who invested.
That would also mean he would kept his promise get rich doing so and make Bitcoin look like a joke.

For me the BTC investment are similar to gold investments, this is enough hint to what I would do.

The question is: Do you believe in Bitcoin or not?

[FreeMoney]

Yeah, it would be a panic alright. A panic to get $$$ on any exchange asap.

[istar]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

What if Pirateat40 does just that.
What if that is in his interest to do so?
Maybe he is working on a competitor to Bitcoin ie another micropayment system or payment company.

That would mean he would get plenty of dollars. Now he can buy all those cheap < $1 Bitcoins.
And thus give his interest rate with Bitcoins back to those who invested.
That would also mean he would kept his promise get rich doing so and make Bitcoin look like a joke.

For me the BTC investment are similar to gold investments, this is enough hint to what I would do.

The question is: Do you believe in Bitcoin or not?

In my view only ignorant people or very poor, do not own atleast a couple of Bitcoins.
I´m telling you. Never sell all your Bitcoins.

But I´m looking at facts. A currency that might go from $10 to $1 in any minute, at the whim of only one person is a very dangerous place to have to much value in, and such an event would be seen as a confirmation that you should avoid Bitcoin by those who are still in doubt about it. 

So what I believe is right now of little importance.

[P4man]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

What if Pirateat40 does just that.
What if that is in his interest to do so?
Maybe he is working on a competitor to Bitcoin ie another micropayment system or payment company.

That would mean he would get plenty of dollars. Now he can buy all those cheap < $1 Bitcoins.

No he cant. Just like selling 400K bitcoins would crash the price, buying back >400K coins will cause a price jump like we've never seen.

[skinturtle]

If bitcoin is $1, I'm going to buy a lot of coins right away without second thoughts.

[FreeMoney]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

What if Pirateat40 does just that.
What if that is in his interest to do so?
Maybe he is working on a competitor to Bitcoin ie another micropayment system or payment company.

That would mean he would get plenty of dollars. Now he can buy all those cheap < $1 Bitcoins.

No he cant. Just like selling 400K bitcoins would crash the price, buying back >400K coins will cause a price jump like we've never seen.

What cheap <$1 bitcoins? The ones he's selling? He's going to rack 'em up by buying from himself?

[Hecate]

Will people stop with that nonsense and especially pirate already? He is probably thinking more about what to eat for lunch than how to pay back the money. And this "sell down to 1.5$ then the price will fall in panic" is also kinda ridiculous. There even has been a thread about it like one day ago.

[Cablez]

With the sheer amount of people waiting for just such this situation do you really think people will have time to panic sell?

The price will drop and bounce back faster than you can click the buy button.

[proudhon]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

What if Pirateat40 does just that.
What if that is in his interest to do so?
Maybe he is working on a competitor to Bitcoin ie another micropayment system or payment company.

That would mean he would get plenty of dollars. Now he can buy all those cheap < $1 Bitcoins.
And thus give his interest rate with Bitcoins back to those who invested.
That would also mean he would kept his promise get rich doing so and make Bitcoin look like a joke.

Interestingly, that's about as high as I've ever seen the depth to $1.

[Littleshop]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

What if Pirateat40 does just that.
What if that is in his interest to do so?
Maybe he is working on a competitor to Bitcoin ie another micropayment system or payment company.

That would mean he would get plenty of dollars. Now he can buy all those cheap < $1 Bitcoins.
And thus give his interest rate with Bitcoins back to those who invested.
That would also mean he would kept his promise get rich doing so and make Bitcoin look like a joke.

If pirate had that many coins the best thing would be for him to pay those coins back or (just for him) run with them.  He might bring the price of coin down to $3 but money on the side buying would slow him down greatly.  It would cost more for him to buy the coins back then when he started. 

[Gabi]

If he sells so many bitcoin and btc go down to 1$, i'll buy as more as possible!

[paraipan]

If he sells so many bitcoin and btc go down to 1$, i'll buy as more as possible!

+1 waiting forward to it

[anu]

All it takes is 376,918 Btc to push price down to $1.25.
Below $1 is just panic.

If someone with 370,000 Bitcoin really wants to cash out, why not sell 3000 every day for $10 instead of driving the price down to $1. He would loose $1.5 Million doing so. Just for the satisfaction to be the guy who drove Bitcoin to $1? What use would it be? People would figure out what happened and price would be back over $5 within days.

[Chrstian]

Houston we have a sockpuppet.

[muyuu]

Time and again I'm reading people thinking MtGox-USD is the only market, and assuming there is no liquidity outside of the orderbook.

Getting tedious already.

[ElectricMucus]

Time and again I'm reading people thinking MtGox-USD is the only market, and assuming there is no liquidity outside of the orderbook.

Getting tedious already.

I bet it does. And it will remain that way until there is a plausible scenario to think otherwise.