Bitcoin Millionaires

[Vandroiy]

Of course it is a viable plan. If you truly believe in Bitcoin independent of what this one person does, you will catch the remainder of the sale at the latest at .39, and if you don't, he can keep the offer standing, remove it, or whatever. Unless the entire system breaks down because of that 500k offer (which is not within the likely failure events I see for Bitcoin), an open sale would be the reasonable thing to do.

The seller is in no hurry and wouldn't mind pushing the market down a bit further if he really is satisfied with a rate of .4 for the 500k.

And what "transparency of exchanges" are you talking about... the dark pooling on mtgox maybe? lol

I tend to believe the other users: there probably are not 500k BTC involved, just one or two people interested in getting prices to drop. I don't see someone sitting on 400k, believing they're worth just .40 and not taking bids above .70 -- doesn't sound credible.

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[Binford 6100]

I don't see someone sitting on 400k, believing they're worth just .40 and not taking bids above .70 -- doesn't sound credible.

I can imagine when someone with enough bitcoins would accept all bids over .4 (effectively clearing the demand at whatever proposed buy price) that the exchange rate would plunge there instantly. how shallow is any of the exchange markets?

the february rise could be caused by the rumour LR changing AML/KYC rules and people just fled LR and bought BTC. since then parity then the price is correcting itself downwards back to .40 anyway. should have bought the wool socks then

[dyseac]

I'm sure there's quiet a few BTC/USD millionaires out there now

[blackreplica]

To be a millionaire now, you'd need to have at least 10000 BTC. Assuming about 10 million BTC in existence, there could only be 1000 of them at max assuming the current bitcoin stock were perfectly distributed (this cant possibly the case). I reckon there couldnt be more than 20-100 of them at best

[johnniewalker]

Yeah I know a guy
his name is Dread Pirate Roberts

[dyseac]

Yeah I know a guy
his name is Dread Pirate Roberts

is this him?

[Rodyland]

I would consider buying BTC500k @ US$0.40.

   

[Ivica]

Yeah I know a guy
his name is Dread Pirate Roberts

is this him?

No, it's him.