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Author Topic: Using pools to sell large amounts of bitcoin  (Read 1075 times)
remotemass
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March 22, 2013, 05:41:51 PM
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Ok, pools are used for 'mining', that work somehow like co-ops, and I was thinking, what if we used the same concept of 'joining forces' but with the intent of selling large amounts of bitcoin for a better price than if you sold them partially?
I suppose - because it is so hard to get your hands on a large amount of bitcoins - that they could be sold for a higher price if sold as a large sum.
You could allocate your bitcoins to different pools that would be waiting for enough allocated funds in a kind of crowfunding way. Only if the desired large sum of coins could be achieved would the trade take place.
I think the ingenuity of it is that there would have to be some kind of trade-off for allocating your bitcoins in one pool and not another. Maybe simply, the time each would probably take to fulfill. What do you reckon?

Would be great there was a torrent file of all referenced materials of the paper: "How to Build Time-Lock Encryption" by Tibor Jager. And having its magnet link published on bitcoin blockchain!
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theta
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March 22, 2013, 06:22:23 PM
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because it is so hard to get your hands on a large amount of bitcoins - that they could be sold for a higher price if sold as a large sum
The opposite is also true. It's hard to sell large amount of bitcoins. In both cases  it's actually not hard,  you just send an order and it takes seconds  Smiley  but it is hard if you don't want to move the price.  You are assuming that there is a lot of buying interest for bitcoins.  If that's true,  the very nature of the open market solves the problem by moving the price higher.  No need to create blocks of bitcoins available to purchase at a higher price.  if you see the market depth of any exchange you have that already. In fact,  the availability of a large quantity of bitcoins for sale would be a reason for a price drop,  and typically if you do have such quantity available you would negotiate a sale at below market price, not above.  Big blocks of shares trade like that.

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