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Author Topic: Serious question about the market fluctuation  (Read 1013 times)
Matthew N. Wright
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July 26, 2011, 12:04:17 AM
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July 26, 2011, 05:14:31 AM
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If a lot of people decided to sell a lot of bitcoins no matter the price and no matter where they come from (Deepbit, someone cashing out, etc...) without a similar influx of buyers then the price of bitcoins would drop.

Currencies are just like any other product, they follow the law of supply and demand. Increase of supply, same demand = price goes down.

This is very simple. The hard part is to predict the changes in supply and demand, and that is why predicting the price is so difficult.
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July 26, 2011, 05:21:12 AM
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If my math is correct, Deepbit mines about 2,556BTC per day on average. If I were Deepbit, and I wanted to cash out on the 5,000Gh/s+ I had:
Deepbit is a pool. The bitcoins they mine aren't theirs. They can't sell them.

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I am truly curious about this because I might someday be in possession of that many BTC and want to know any negative consequences of selling off.
Since people would have to buy bitcoins to give them to you, there would likely be no significant net negative consequences. In fact, the more things people can buy with bitcoins, the more bitcoins stay in circulation rather than getting cashed out.

I am an employee of Ripple.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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