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Question: What do you think the BTC/USD price will be after someone buys up all the aks?!
0-10$ - 10 (25.6%)
10-20$ - 8 (20.5%)
20-35$ - 3 (7.7%)
35-50$ - 1 (2.6%)
50-75$ - 2 (5.1%)
75-100$ - 1 (2.6%)
100-500$ - 1 (2.6%)
500-1000$ - 1 (2.6%)
1000$+ - 12 (30.8%)
Total Voters: 39

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Author Topic: What do you think the BTC/USD price will be after someone buys up all the aks?!  (Read 1201 times)
Koekiemonster
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January 29, 2012, 03:09:53 AM
 #1

Purely hypothetically speaking (I hope, can't be good for Bitcoin).

What do you think the BTC/USD price will be after someone buys up all the aks?!
So the latest transaction will be like 1BTC = 100,000$ with 8M$ invested by someone as you can see here:
http://bitcoincharts.com/markets/mtgoxUSD_depth.html

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January 29, 2012, 03:30:22 AM
 #2

Purely hypothetically speaking (I hope, can't be good for Bitcoin).

What do you think the BTC/USD price will be after someone buys up all the aks?!
So the latest transaction will be like 1BTC = 100,000$ with 8M$ invested by someone as you can see here:
http://bitcoincharts.com/markets/mtgoxUSD_depth.html
I think you'll see a lot of bot action making bogus decisions based on the "latest price", and once that noise dies down you'd see limit asks slowly trickle in at various prices.

Volatility would be high for a good span of time after that, with one side of the order book being so thin. I don't think I could say where we'd stabilize (although I suspect it'd still be <10$).

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the culture of naive fools and conmen, the former convinced that BTC is a magic box that will turn them into millionaires, and the latter arriving by the busload to devour them.
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January 29, 2012, 10:13:30 AM
 #3

OP title is monstrous! 

YoYa
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January 29, 2012, 02:12:18 PM
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OP title is monstrous!  



WHO IS THIS ATER SOMEONE? AND WHAT ARE AKS? AND WHY DOES HE WANT THEM!?!
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January 29, 2012, 05:54:26 PM
 #5

Well, by market cap alone it would only make a difference of +1 USD/BTC. But a lot of coins are not on the exchanges, and from what I know of the Bitcoin traders, it would come back down with a delay anyway, so I think it might stay above 10 for a bit if someone really is that crazy.

However, this largely depends on what the people with the very high asks do with all the free money. I assume they buy back lower. If they just walk away with the fiat, the effect is the same as removing a bunch of coins into a big hoarder's hand. Nothing new or special, I guess.

IMO, it would be nice if the market cuts down on the crazy operations for a bit. How is Bitcoin ever supposed to get merchants if price keeps jumping like a kangaroo on speed?
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January 29, 2012, 07:03:22 PM
 #6

I think it would depend heavily on whether the elves and unicorns saw fit pull their BTC out of the market for long term speculation.

Certainly the market cap could support such a sale, perhaps it would bring a lot of the hobbits out hiding to attempt to sell their BTC hoping to make 10's of thousands per coin.

Snuffleupagus could have unforeseen influences, he might be in cohorts with el chupacabra, I think they may be holding a lot of BTC and want to depress pricing to buy more.

Not serious comment about influence of imaginary market forces.
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