$3 billion in 'dust' to enter the market will push the bull run past the halving

[pixie85]

If really so much stableshitcoins is waiting in the sidelines I don't know if I should be happy or not.

If as much as a billion USDt gets converted to BTC a smart person should think twice if it's not a good moment to sell their coins end exit because we all know that stablecoins can be printed much easier than fiat money. They're just numbers in a database so by selling your coins for USDt you're literally getting dust just like they're naming it in the article.

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[dothebeats]

$3 billion is a pretty small figure IMO to cause a substantial bull run of astronomical proportions. Perhaps it will cause a small bump but that's just about it, afterwards it will be eaten by the sell orders trying to make out some nice profits especially those who bought @ $4000. If these people are really in it to make money, they would have done so earlier and not when the market clearly is stable and is going up. Timing is everything, and theirs in this instance is shit.

I wonder if they would really be ballsy to go all-in on cryptocurrencies amid the pandemic.. Well, it certainly wouldn't go to stocks or kept in cash either, so it's this market that they're going to disturb.

[Casdinyard]

$3 billion is a pretty small figure IMO to cause a substantial bull run of astronomical proportions. Perhaps it will cause a small bump but that's just about it, afterwards it will be eaten by the sell orders trying to make out some nice profits especially those who bought @ $4000. If these people are really in it to make money, they would have done so earlier and not when the market clearly is stable and is going up. Timing is everything, and theirs in this instance is shit.

I agree, $3 billion is a huge amount of money but it won't a lot when injected. Bitcoins market capitalization is about $120 billion, you would not even notice if you take out the $3 billion. However, if injecting $3 billion to the market and interpreted by most of us as the start of bull run then it might be a trigger to let it happen, you know the market's core is speculation so it's not impossible to happen.

I wonder if they would really be ballsy to go all-in on cryptocurrencies amid the pandemic.. Well, it certainly wouldn't go to stocks or kept in cash either, so it's this market that they're going to disturb.

Why not? I mean we have seen crashes after crashes of all type of markets, stock, oil and cryptocurrency but the crypto market is the only looking good as of now, on top of that is the fact that crypto is an alternative solution for fiat which we know these days that is very dangerous due to the virus.

[Youghoor]

Exactly, I am sure this new mint is definitely in preparation towards the upcoming Bitcoin halving. I am certainly sure we are going to see a pump in the market pretty soon. Don't let this recent dump in market deceive you, there is definitely a big pump coming away. Time now is to buy cheap assets on the market.

[Lucius]

$3 billion is a pretty small figure IMO to cause a substantial bull run of astronomical proportions. Perhaps it will cause a small bump but that's just about it, afterwards it will be eaten by the sell orders trying to make out some nice profits especially those who bought @ $4000.

For people who refuse to read anything than title (you included), this is not about some astronomically large bull run, but just a hypothetical situation that all that money located in stablecoins can be used at some point as investment in BTC, but also in altcoins. Some people obviously have problems with numbers, so I'll have to quote myself :

If we divide $3 billion with $7000 = we get almost 430 000 BTC at current price. Just for comparison, total amount of mined coins in one year (12.5 BTC per block reward) is 657 000.

For comparison, last year pump (from April 2019) was allegedly caused by Bakkt buying 100 000 BTC, and price is gone from $4000 to $14 000 in very short period of time.

[buwaytress]

Last year, coming across an old account in a teeny exchange, decided to offload the shitcoins for btc and was just short of withdrawal minimum.

I actually did a calculation some time last year when btc was at around 3.6k. All of my dust in scores of accounts I eiter opened for gambling (where plenty of rains and tips were accumulated in 2016/17). All dust in stupid bouts of altcoin buying when they were actually worth something. All of that was easily worth 0.05 or more, had I been able to consolidate without having fees eat them up.

I bet you, as lucius points out, a lot of big boyss could pretty much clear up all those stablecoin dust and get into btc big again. I'm thinking all those delisted coins esp customers never claimed. Not sure why it didn't happen at Black Thursday though.

[Lance203sin]

What is dust actually? Its not so obvious

[DooMAD]

What is dust actually? Its not so obvious

It gets confusing because people seem to use the word in different ways.  At protocol level, "dust" means an amount of 546 satoshis or less, or 294 satoshis if using SegWit.  But some people use the word colloquially to simply mean "a small amount".  But then it becomes a question of perspective.  What one person may consider an insignificant amount, another person may see as a sizeable amount of wealth.  And because this article is talking about significant sums of BTC, muddying the waters by using the word dust isn't helpful for ease of understanding.

[stompix]

What is dust actually? Its not so obvious

It gets confusing because people seem to use the word in different ways.  At protocol level, "dust" means an amount of 546 satoshis or less, or 294 satoshis if using SegWit.  But some people use the word colloquially to simply mean "a small amount".  

Actually, in the article, there is not a single mention of "dust".
The "dust" term was added by the OP replacing the original "Dry Powder"
I don't know why he did it but it turned out more confusing than helpful.

I too thought of something else when reading the title, and I was thinking of 3 billion in money that is left sitting on exchanges , something like the 1 billion in unused Starbucks gift cards.

[Leonardo7]

$3b entering the market is not a big deal. That would make the total market cap to be about $210b which is still way below expectation. A lot of supposed experts are predicting a bearish market, I won't take them seriously as this has caused me and friends to miss a good opportunity.