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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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LeonardoDiCrypto
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February 19, 2018, 04:12:42 PM |
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If any of the big whales would suddenly cash out, Bitcoin's price could get quite a big hit. However, it is not in their interest to do it, since this way they would get far less cash than by selling slowly. On the other side, some super-whale could have the precise purpose to crash the prices so that he can buy the coins back cheaper. By the way, I guess this scenario has already occurred a number of times, perhaps even recently.
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First77
Member
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Activity: 266
Merit: 32
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February 19, 2018, 04:15:55 PM |
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He will sell 96,651 Bitcoin. 100% true.
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heureca
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February 19, 2018, 04:22:10 PM |
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This guy can not sell all BTC for 1 day. It will be very hard to do considering criptocurrency exchanges day limits and volumes |
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████ | / | Distributed
Credit Chain | // | ╲ | | ╱ |
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pekcoin01
Newbie
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Activity: 224
Merit: 0
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February 19, 2018, 04:22:39 PM |
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I would have gone out of my mind. I work, I travel the world I would do everything I wanted.
Eat, drink, have fun!
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sakib.bro
Jr. Member
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Activity: 140
Merit: 2
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February 19, 2018, 04:24:32 PM |
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is he alien or something?  i guess he may not be the person for sure  |
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Tipsters
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February 19, 2018, 04:29:54 PM |
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What an amount of money for a single person. Although I do not envy him, is cashing out that amount of money even possible? If so, he will greatly affect the whole bitcoin market and can make the price of bitcoin very high or low. That is why whales are greatly feared and sometimes hated by the bitcoin users because they have so much money and they find it hard to protect themselves and their money. |
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Tipestry
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Activity: 98
Merit: 0
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February 19, 2018, 04:30:07 PM |
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It would be much more profitable to sell slowly, so the only scenario where someone would sell that much quickly is if they desperately needed cash right away, like if there a really amazing black friday sale and they wanted to buy 10,000 refrigerators.
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newb-dev
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February 19, 2018, 04:34:55 PM |
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I don't see why that guy would suddenly cash out if he owes that many bitcoins. If hypothetically that happens then sure bitcoin price will have to suffer
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LoyceV
Legendary
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Activity: 3304
Merit: 16637
Thick-Skinned Gang Leader and Golden Feather 2021
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February 19, 2018, 04:35:27 PM |
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What if this guy with $10 billion suddenly starts buying Bitcoin? Does this mean an insignificant drop of ca. 0.57%?
Circulating supply is irrelevant, most of it isn't "circulating". Only a small portion is traded each day. Trade volume is currently $7 billion per day. Buying with dollars increases the price, selling Bitcoins lowers it. The market will always find an equilibrium, which makes speculating like this useless. |
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First77
Member
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Activity: 266
Merit: 32
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February 19, 2018, 04:39:30 PM |
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I don't see why that guy would suddenly cash out if he owes that many bitcoins. If hypothetically that happens then sure bitcoin price will have to suffer
Man selling 8000 Bitcoins https://bitcointalk.org/index.php?topic=2698402.0 |
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Don Pedro Dinero
Legendary
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Activity: 1302
Merit: 1525
The first decentralized crypto betting platform
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February 19, 2018, 04:40:02 PM |
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If he wants to cash out and he is not an idiot he will start selling small parts, slowly. I bet if he is not an idiot he won’t sell everything to begin with, but something similar happens with the stock market and people who hold large positions usually sell small parts and, if they want to sell all their position, they do it out of the market. They don’t just go and place a sell order for all their stocks, as that goes against their interest.
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slackcryptoz
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February 19, 2018, 04:43:00 PM |
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An user won't intend to sell all the bitcoin holdings in a day's time or two. Cashing out of bitcoin is possible to some extent and to some limit whales will manipulate the price after which bitcoin won't go that low in value.
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Scorpion
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February 19, 2018, 04:45:09 PM |
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Then he's not smart.
1.) He would be devaluing his own money.
2.) He would he need 96,651 BTC worth of money for? He can just cash out a little by little
3.) He would be cashing out before BTC is massively adopted in the future when he can just spend BTC and not fiat money.
4.) RIGHT NOW BTC IS CHEAP! (DYOR and come to your own conclusions on that one)
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chidrawarster
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February 19, 2018, 04:48:48 PM |
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I only see in that case, the market will start dropping hard atleast another 30 percent bringing back btc to new lows. This has happened several times in the market and always in this scenario , the buyers take back buy positions at cheaper prices and start waiting again to hit their target price and then cash out.But long term investors are never interested in this type of stuff as they believe in asset based.
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Kprawn
Legendary
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Activity: 1904
Merit: 1073
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February 19, 2018, 04:49:15 PM |
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We have had similar situations when the Silkroad coins were sold on auction. {about 50,000 bitcoins} This only had a slight impact for a few days, until the market absorbed the news. Luckily most of those coins were bought by hoarders, so it was not dumped onto the exchanges at once. Most of these people know that the price will drop, so they will not dump a lot of coins at the same time. They will sell small batches at a time to get the highest price possible.  |
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weston4mills
Member
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Activity: 308
Merit: 10
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February 19, 2018, 04:53:20 PM |
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Those are a lot of bitcoin for only one guy. How can he handle it? I hope he doesn't cash out because that would affect the bitcoin price |
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pey
Sr. Member
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Activity: 546
Merit: 251
Free Crypto in Stake.com Telegram t.me/StakeCasino
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February 19, 2018, 04:54:47 PM |
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This guy is buying, he does not probably need that money so that he will never cash out all of them suddenly, even all world make crypto illegal, he would buy more  this is how they make millions of dollars. |
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usekevin
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February 19, 2018, 04:59:34 PM |
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If he had cash out this much bitcoin in a one day.He will loss a huge for sure. As we know the price of bitcoin will increase further and now the value is low ,they will feel for entire selling in one day. Best option to cash out in bitcoin is selling it based on the requirement. We should keep some bitcoin for our future. |
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justine11
Member
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Activity: 336
Merit: 12
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February 19, 2018, 05:09:13 PM |
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Well yes there is a significant of price in bitcoin if whoever owns that address will sold all of his bitcoins but on the other hand, i high doubt that one person owns that huge amount of bitcoins in that address (i only know person who owns a huge amount of bitcoins 40k to be exact and that is roger ver) and if that person owns that amount of bitcoin and cashes out, the problem is the banks and the government depending on what country he /she lives they will investigate you regarding with your money received on your bank account from the exchange or worst he/she will be charged with money laundering. If you ask me, who owns that address? I 'd that address owned by an exchange. |
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