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Author Topic: $700 million lottery jackpot straight to BTC  (Read 2226 times)
vasrasus
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January 08, 2016, 03:05:16 PM
 #21

When the $700 million is used to buy the bitcoin slowly, the average price could be $2,000 each. So it can only buy 350,000 bitcoin.

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January 08, 2016, 03:21:13 PM
Last edit: January 08, 2016, 05:34:49 PM by Amph
 #22

When the $700 million is used to buy the bitcoin slowly, the average price could be $2,000 each. So it can only buy 350,000 bitcoin.

if you buy it really slow, in a time frame of many months, the market will not notice it basically, it would just increase by 700M the marketcap, which is 1/7

this mean a value of $510
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January 08, 2016, 03:23:25 PM
 #23

When the $700 million is used to buy the bitcoin slowly, the average price could be $2,000 each. So it can only buy 350,000 bitcoin.

if you buy it really slow, in a tiem frame of many months, the market will not notice it basically, it would just increase by 700M the marketcap, which is 1/7

this mean a value of $510

You're right

If you just buy every now and then when the market dips, you should be okay not to do enough damage

As long as you don't bulk in all at once and at only 1 exchange
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January 08, 2016, 03:31:36 PM
 #24

There are probably not enough liquid coins to buy enough at a decent price.

If that amount was spend over say a year, price could potentially multiply a couple of times.

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January 08, 2016, 05:24:53 PM
 #25

OMG! $700 million USD to BTC, when he cash it out after years he will be insanely rich, the richest. But it depends on how much years he holds it.

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January 08, 2016, 08:02:30 PM
 #26

It would be one hell of a pump that's for sure, followed by a huge amount of people selling when prices rise higher and higher, causing the bubble to burst.
Would make Bitcoin a lot more popular with the general public though...

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January 08, 2016, 08:37:54 PM
 #27

OMG! $700 million USD to BTC, when he cash it out after years he will be insanely rich, the richest. But it depends on how much years he holds it.
He can be insane poor or be in severe loss too ,who knows when the coin will collapse and even if he cashes out then it could end up crashing the market and this is why bitcoin needs time a lot more time to get stable and used properly.
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January 08, 2016, 08:47:02 PM
 #28

With the US Powerball jackpot now at $700 million, I'm curious about a scenario where a single winner dumps the entire lump sum into the BTC exchange and locks it up for years.
What would the effect on the market be immediately after and for the next few years? What would happen to the market in the future if they decide to cash out as the richest person who ever lived?

$700 million is nothing if you are trying to buy ALL the coins. I would immediately offer my coins for no less than $100 million each. That is the self regulation of a true free market. The more anyone wants coins the higher the price. In the end the buyer can give me the $100mil. each or I can just sit back and benefit from his effort to raise the price.

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January 08, 2016, 09:16:16 PM
Last edit: February 22, 2016, 08:25:24 PM by rienelber
 #29

quote author=pedrog link=topic=1319212.msg13483317#msg13483317 date=1452244478]
It would be a huge waste of money...
[/quote]

why do you say that while btc market is bullish?

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January 08, 2016, 09:30:46 PM
 #30

I wouldn't buy bitcoin all at once, I don't believe this would be a good thing for the market

I would buy little by little bitcoins every now and then when I'd feel like it

But most important of all, I would enjoy my life and retirement

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January 08, 2016, 09:59:10 PM
 #31

The market size is just not big enough to do this in a feasible manner. You would have to buy in pieces over many many days

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January 09, 2016, 03:47:17 AM
 #32

it suddenly gone to estimated 8 hundred million dollars? Huh
i guess people is panic on buying the tickets to hope that they would win the jackpot.
still not recommended to redeem in bitcoin; it would only pump the bitcoin price but not for a long time.

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January 09, 2016, 04:01:06 AM
 #33

I dont think that there's someone will do that.
As Its just insane to put it ALL to bitcoins.
If i won a jackpot like that, I will just put the 1/4 or 1/8
of it into bitcoin and the rest to invest to buy houses,
or other business that also concerns bitcoin.
If someone really do that in the future, bitcoin price will pump high.
And everyone will be affected to it. I just dont know if it will stay that long.


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January 09, 2016, 04:18:06 AM
 #34

Wayyyy to risky. Maybe drop a million or two into it over time but all of it. I mean if you hit it big yeah id be nice but you'd have so much of a share you'd ruin the market.

Same principle why bill gates can't just sell every single one of his stocks right now to cash out

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January 09, 2016, 05:32:44 AM
 #35

you'd have to be retarded.
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January 09, 2016, 05:47:52 AM
 #36

The price would go up a lot as the demands for bitcoin would sky-rocket.
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January 09, 2016, 06:06:40 AM
 #37

...

Ahh, keep in mind, everyone, that if you want the CA$H all at once (vs. the 29 years of payouts), that the amount falls to $496 million (or so -- only if one winner).  I do not know if that $496 MM includes a provision for paying the Income Tax (and yes, lottery winners are taxed), so the NET jackpot might be as low as some $300 million.

That is still a nice amount of money, but so many people are buying now (America's largest lottery in history), that odds are that you would have to share the jackpot.

*   *   *

With large enough winnings, I might buy some $20 million BTC, that's all.  I would also buy slowly.

And, of course, the winner's first call should be to their LAWYER.
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January 09, 2016, 06:33:50 AM
 #38

I would put everything into bitcoin.  Converting 500k into bitcoin.  Day by day.

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January 09, 2016, 09:06:22 AM
 #39

I would diversify and buy only about $10 000 000 worth of Bitcoin for now... use that to speculate a bit and increase it's value. The return of my other investments could also

be invested back into bitcoins. You cannot invest everything into bitcoin and expect to pay for every service or goods on offer at the moment. You must put some of it to the

side for your pension years and enjoy life with it now, while you still have your health. $800 million already enable you, to accomplish most of your dreams.. why tie it all down

on a single investment into a speculative and high risk technology.  Roll Eyes

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January 09, 2016, 05:47:56 PM
 #40

Back to OP's question: since there are around 6 billion dollar's worth of Bitcoin in the world now the dumping of $700 million into the BTC exchange would definitely impact the price but not much, maybe 20-25% which is a normal thing for Bitcoin even when there are no apparent reasons for that. )
Hell no it doesn't works that way ,the 6 billion dollar market is for all the bitcoins at present and not for the selling orders.If someone actually dumps that much mount of coins the price would be round 30% of what it is today.Satoshi did the same thing and we have seen the effects.

As I said, "20-25%", it is almost 30% right? And considering the fact that the price of Bitcoin sometimes goes up and down 30% or even more without any reasons that would be no big deal.

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