imagine 550,000 ETH dumped in a few hours

[clardalan]

So, with EOS collecting 550,000 ETH already, and first round ending in 5 hours....

and it will be traded already on bitfinex?

so, we can imagine the proud owner of 550,000 ETH wants to cash some to pay development?

How much would you cash in current state of ETH?

I would cash all.

If he cashes all, what happens to the ETH price?

Yeah that happens. we are talking about 550,000 x 300 = 165,000,000 $ worth of ETH.

brace for impact.

[adaseb]

There were other ICOs which raised similiar amounts and price hasn't crashed.

If they start selling right away we can tell because we know where the ETH is sitting.

[clardalan]

There were other ICOs which raised similiar amounts and price hasn't crashed.

If they start selling right away we can tell because we know where the ETH is sitting.

the market is different. during those ICOs, ETH was more stable/bullish.

now a dump can drop its value a lot. the order books are thinner.

[lizardbtc]

So, with EOS collecting 550,000 ETH already, and first round ending in 5 hours....

and it will be traded already on bitfinex?

so, we can imagine the proud owner of 550,000 ETH wants to cash some to pay development?

How much would you cash in current state of ETH?

I would cash all.

If he cashes all, what happens to the ETH price?

Yeah that happens. we are talking about 550,000 x 300 = 165,000,000 $ worth of ETH.

brace for impact.

In my opinion, those ICOs might be paying their devs and all that it is needed in ETH. They tend to hold their ETH and not sell, which raises the demand for ETH and thats why it is at a price it is today. While they keep the ETH within themselfs they remove that from the market which results in a less supply but demand for ETH raises higher because of the new ICOs that are coming p and all way around which causes the ETH price to be where it is today.

But if they dump it, I think that ETH  price should recover within coming weeks.months because to many people are believing in it as they saw Putin to talk with Vitalik and because Microsoft is backing it up and all. People will feel that dip is great for them to buy some cheap ETH.

This is my opinion on this situation/

[McWorse]

(...)

Yeah that happens. we are talking about 550,000 x 300 = 165,000,000 $ worth of ETH.

(...)

14% of 24h volume.

So what... ?

[findingthemoon]

(...)

Yeah that happens. we are talking about 550,000 x 300 = 165,000,000 $ worth of ETH.

(...)

14% of 24h volume.

So what... ?

Yeah and probably dumped over a year or something similar, its not even an issue. Generally they only cash out as they need funds, they aren't stupid to sell at low prices.

[gedor]

Why they want to dump 550.000 eth in a few hours? are they scam? also It would be an loss of money

[McWorse]

Why they want to dump 550.000 eth in a few hours? are they scam? also It would be an loss of money

They won't. But it's en vogue to spread fears combined with ETH...

[hanlieuiypm9832]

I think they will not sell the 550,000 eth just after they received, it is obvious that the will dump the price a lot and it is not harmful for themselves. I hope they can hold them for a long time.

[talkbitcoin]

first of all we don't need to imagine it! it already happened once not so long ago on GDAX! about 170 ETH were sold on here https://www.gdax.com/trade/ETH-USD and price crashed down to $0.10 in one hour!

secondly these ICOs never dump all at once, they slowly dump and price comes down slowly too. unless something spooks them to panic dump in fear of losing a lot of money because price is falling or another big ICO holder is selling their coins faster than them.

also (correct me if i am wrong) but isn't there some kind of lock time where the funds stay in an escrow or something before they can access it?

[slaman29]

first of all we don't need to imagine it! it already happened once not so long ago on GDAX! about 170 ETH were sold on here https://www.gdax.com/trade/ETH-USD and price crashed down to $0.10 in one hour!

secondly these ICOs never dump all at once, they slowly dump and price comes down slowly too. unless something spooks them to panic dump in fear of losing a lot of money because price is falling or another big ICO holder is selling their coins faster than them.

also (correct me if i am wrong) but isn't there some kind of lock time where the funds stay in an escrow or something before they can access it?

First of all, it's so crazy but we are numb now to this sort of millions people just play around with. Very worrying for crypto, but who knows, I am just a small fry.

secondly, yes, we have seen spikes on ETH even a few months back on polo. ETH seems quite vulnerable to small dumps. Anyway, these ICO owners know it and will only dump slowly, and probably for other alts even to pump those up. And make more!

And lastly, yes, supposedly there are escrows but this is one of those ICO where the escrows are themselves (they have 3 main founders/directors who must co-sign withdrawals). I have only seen one ICO with a third-party escrow (nvo).

[StealthCoin1]

So, with EOS collecting 550,000 ETH already, and first round ending in 5 hours....

and it will be traded already on bitfinex?

so, we can imagine the proud owner of 550,000 ETH wants to cash some to pay development?

How much would you cash in current state of ETH?

I would cash all.

If he cashes all, what happens to the ETH price?

Yeah that happens. we are talking about 550,000 x 300 = 165,000,000 $ worth of ETH.

brace for impact.

If 165,000,000 $ worth of ETH dumping across exchanges the price per Eth probably go down to $5. There are not enough buy walls money to sustain that 165,000,000 $
Also most of these Eth volumes are fake.

[Maskedman]

I would not worry about that, people running ICOs know that if they want to keep their money, they have to sell little by little, and that is what they do. And even if they sold it all, price would crash but would recover easily since many people would see a good opportunity.

[phr0stbyt3]

This could be devastating for ether as it surely isn't as strong as bitcoin when it comes to price drop. Let's say orice is 300$ now after this dump it can go down to 150$ also and normally in case of bitcoin it woumd return to 300$ within few days or weeks but for ether it can take several months to recover

[kalisto]

what goes up must come down 

[kelsey]

what goes up must come down 

and usually alot harder 

[trackr-im]

Selling that amount of ETH at once wouldn't be smart and definitely at this time would impact the market to some extent, most ICOs tend to held hold on to their ETH to pay their team, research and development and so on. It would be odd if it was any different this time around.

[overnightmillionaire]

Selling that amount of ETH at once wouldn't be smart and definitely at this time would impact the market to some extent, most ICOs tend to held hold on to their ETH to pay their team, research and development and so on. It would be odd if it was any different this time around.

EOS plans to replace Ethereum, Dan's plan is to crash ethereum when the time is right.

[dady12]

I don't think there will be any problem because people running an if I have done that in the past and this is not the first time a d I don't believe that they will be able to sell those amount at that short interval of time ,this is going to create fear among in estor but there can't be a reason to panic

[speaktome]

So, with EOS collecting 550,000 ETH already, and first round ending in 5 hours....

and it will be traded already on bitfinex?

so, we can imagine the proud owner of 550,000 ETH wants to cash some to pay development?

How much would you cash in current state of ETH?

I would cash all.

If he cashes all, what happens to the ETH price?

Yeah that happens. we are talking about 550,000 x 300 = 165,000,000 $ worth of ETH.

brace for impact.

If 165,000,000 $ worth of ETH dumping across exchanges the price per Eth probably go down to $5. There are not enough buy walls money to sustain that 165,000,000 $
Also most of these Eth volumes are fake.

Maybe there are no such buy walls,but you now,as soon as the price declined i would think that immediately that would change to have more purchase support preventing such a fall.