cafucafucafu (OP)
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November 12, 2014, 08:05:31 PM |
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So 40% of BTC is owned by 0.1% of Bitcoiners: https://bitcointalk.org/index.php?topic=316297.0 (1000 people own 5.8 million coins) How will the market respond if someone decided to dump 30k or so coins? We will be back to single digits for the price on a single exchange. Could be done by someone who was in a bad mental state. A depressed guy. So how long would it take for the market to recover?
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ebliever
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November 12, 2014, 08:08:22 PM |
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This just happened a couple weeks ago in the "Bearwhale" episode. Someone tried to dump 30K bitcoins at $300, and instead of the market dropping, thousands of people bought them up and the market has been rising since then. I called it the day the plankton ate the whale. So no, we are not at inherent risk of a massive dump killing BTC. Too many people now have a sense of the value of BTC, and have demonstrated they will jump in to purchase BTC if they perceive it as being undervalued. Edit: Article on the Bearwhale episode: http://www.cnbc.com/id/102070437
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Luke 12:15-21
Ephesians 2:8-9
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RodeoX
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The revolution will be monetized!
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November 12, 2014, 08:12:26 PM |
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There is only supply and demand. So any increase in supply will drive down price. That is how it is supposed to work. Bitcoin does not need our money and will work as a payment network no matter what the price is. That is why the bitcoin price always recovers. Stocks may not recover because the company that issued the stock does need your money to keep solvent.
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grosminer
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November 12, 2014, 08:16:02 PM |
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This just happened a couple weeks ago in the "Bearwhale" episode. Someone tried to dump 30K bitcoins at $300, and instead of the market dropping, thousands of people bought them up and the market has been rising since then. I called it the day the plankton ate the whale. So no, we are not at inherent risk of a massive dump killing BTC. Too many people now have a sense of the value of BTC, and have demonstrated they will jump in to purchase BTC if they perceive it as being undervalued. Edit: Article on the Bearwhale episode: http://www.cnbc.com/id/102070437Hahah love it: "The day the plankton ate the whale"
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cafucafucafu (OP)
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November 12, 2014, 08:34:45 PM |
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This just happened a couple weeks ago in the "Bearwhale" episode. Someone tried to dump 30K bitcoins at $300, and instead of the market dropping, thousands of people bought them up and the market has been rising since then. I called it the day the plankton ate the whale. So no, we are not at inherent risk of a massive dump killing BTC. Too many people now have a sense of the value of BTC, and have demonstrated they will jump in to purchase BTC if they perceive it as being undervalued. Edit: Article on the Bearwhale episode: http://www.cnbc.com/id/102070437This isn't right. That whale did a market sell at $300. It was not a dump. A market see will not drive down the price like a dump will.
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cafucafucafu (OP)
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November 12, 2014, 08:36:14 PM |
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There is only supply and demand. So any increase in supply will drive down price. That is how it is supposed to work. Bitcoin does not need our money and will work as a payment network no matter what the price is. That is why the bitcoin price always recovers. Stocks may not recover because the company that issued the stock does need your money to keep solvent.
It will cause utter havoc. If there is greater adoption and some mentally ill whale tries to dump 50k coins, we are in trouble.
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21pilot
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November 12, 2014, 08:36:26 PM |
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So 40% of BTC is owned by 0.1% of Bitcoiners: https://bitcointalk.org/index.php?topic=316297.0 (1000 people own 5.8 million coins) How will the market respond if someone decided to dump 30k or so coins? We will be back to single digits for the price on a single exchange. Could be done by someone who was in a bad mental state. A depressed guy. So how long would it take for the market to recover? That 1000 people own 5.8 million is falsified information I think. Are you sure it's not 1000 wallets own 5.8 million? (exchanges have several 100,000 often)
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RodeoX
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The revolution will be monetized!
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November 12, 2014, 08:45:33 PM |
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There is only supply and demand. So any increase in supply will drive down price. That is how it is supposed to work. Bitcoin does not need our money and will work as a payment network no matter what the price is. That is why the bitcoin price always recovers. Stocks may not recover because the company that issued the stock does need your money to keep solvent.
It will cause utter havoc. If there is greater adoption and some mentally ill whale tries to dump 50k coins, we are in trouble. It would be havoc. But it is a temporary situation and if you keep your cool, it is very profitable. Fear is my best friend in the market and when you see panic selling you know it's time to buy.
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ebliever
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November 12, 2014, 09:53:34 PM |
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This just happened a couple weeks ago in the "Bearwhale" episode. Someone tried to dump 30K bitcoins at $300, and instead of the market dropping, thousands of people bought them up and the market has been rising since then. I called it the day the plankton ate the whale. So no, we are not at inherent risk of a massive dump killing BTC. Too many people now have a sense of the value of BTC, and have demonstrated they will jump in to purchase BTC if they perceive it as being undervalued. Edit: Article on the Bearwhale episode: http://www.cnbc.com/id/102070437This isn't right. That whale did a market sell at $300. It was not a dump. A market see will not drive down the price like a dump will. OK, it wasn't technically a "dump" then. It seems to me there is little difference; it's attempted heavy pressure downwards either way.
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Luke 12:15-21
Ephesians 2:8-9
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TheButterZone
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RIP Mommy
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November 12, 2014, 09:54:53 PM |
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This just happened a couple weeks ago in the "Bearwhale" episode. Someone tried to dump 30K bitcoins at $300, and instead of the market dropping, thousands of people bought them up and the market has been rising since then. I called it the day the plankton ate the whale. So no, we are not at inherent risk of a massive dump killing BTC. Too many people now have a sense of the value of BTC, and have demonstrated they will jump in to purchase BTC if they perceive it as being undervalued. Edit: Article on the Bearwhale episode: http://www.cnbc.com/id/102070437This isn't right. That whale did a market sell at $300. It was not a dump. A market see will not drive down the price like a dump will. Market sell=dump, immediately sells all BTC to bids at any price until running out of BTCLimit sell=not dump, sets ask "wall" that can either be eaten into, or other asks placed under it It was a limit sell.
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Saying that you don't trust someone because of their behavior is completely valid.
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cafucafucafu (OP)
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November 12, 2014, 10:13:55 PM |
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This just happened a couple weeks ago in the "Bearwhale" episode. Someone tried to dump 30K bitcoins at $300, and instead of the market dropping, thousands of people bought them up and the market has been rising since then. I called it the day the plankton ate the whale. So no, we are not at inherent risk of a massive dump killing BTC. Too many people now have a sense of the value of BTC, and have demonstrated they will jump in to purchase BTC if they perceive it as being undervalued. Edit: Article on the Bearwhale episode: http://www.cnbc.com/id/102070437This isn't right. That whale did a market sell at $300. It was not a dump. A market see will not drive down the price like a dump will. Market sell=dump, immediately sells all BTC to bids at any price until running out of BTCLimit sell=not dump, sets ask "wall" that can either be eaten into, or other asks placed under it It was a limit sell. Sorry I got that wrong. Yes it was a limit sell.
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jbreher
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lose: unfind ... loose: untight
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November 12, 2014, 10:50:36 PM |
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Stocks may not recover because the company that issued the stock does need your money to keep solvent.
A drop in share price does not reach into the company's bank account and extract cash. Nothing whatsoever to do with solvency.
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Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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jdany
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November 12, 2014, 11:27:36 PM |
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A&D Ointment
its magical stuff
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o0o0
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November 13, 2014, 01:15:32 AM |
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i dont think the 30,000 BTC was a malicious intended dump. i think it was an experiment to test waters for a future plan. Not sure what exactly this plan is though.
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Ron~Popeil
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November 13, 2014, 01:31:17 AM |
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In the short term markets are driven by greed and fear. In the long term they are governed by logic. You get bubbles and crashes with fear and greed but you get stability and firm highs and lows from the logical side of things. Over time things always even out.
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Flashman
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November 13, 2014, 02:56:04 AM |
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Heh, some dolphin just threw away 150 coins on BTCe, didn't do much, some trollboxers got coin 30 below market.
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TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins.
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TinaK
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November 13, 2014, 03:05:12 AM |
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Do you believe that once prices is raising just because sharks want to dump?
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Beliathon
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November 13, 2014, 03:36:19 AM |
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Demand is always growing, supply is always shrinking. This only plays out one way.
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btckold24
Sr. Member
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★Bitvest.io★ Play Plinko or Invest!
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November 13, 2014, 04:05:48 AM |
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love buying on every panic dip - great time to pick up another coin or 2
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saver
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November 13, 2014, 04:06:52 AM |
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it will recover the day after tomorrow, just kidding maybe several years, I guess.
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