I wouldn't buy bitcoin all at once, I don't believe this would be a good thing for the market
I would buy little by little bitcoins every now and then when I'd feel like it
But most important of all, I would enjoy my life and retirement
Topic: $700 million lottery jackpot straight to BTC - page 2. (Read 2401 times)
quote author=pedrog link=topic=1319212.msg13483317#msg13483317 date=1452244478]
It would be a huge waste of money...
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why do you say that while btc market is bullish?
It would be a huge waste of money...
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why do you say that while btc market is bullish?
With the US Powerball jackpot now at $700 million, I'm curious about a scenario where a single winner dumps the entire lump sum into the BTC exchange and locks it up for years.
What would the effect on the market be immediately after and for the next few years? What would happen to the market in the future if they decide to cash out as the richest person who ever lived?
What would the effect on the market be immediately after and for the next few years? What would happen to the market in the future if they decide to cash out as the richest person who ever lived?
$700 million is nothing if you are trying to buy ALL the coins. I would immediately offer my coins for no less than $100 million each. That is the self regulation of a true free market. The more anyone wants coins the higher the price. In the end the buyer can give me the $100mil. each or I can just sit back and benefit from his effort to raise the price.
OMG! $700 million USD to BTC, when he cash it out after years he will be insanely rich, the richest. But it depends on how much years he holds it.
He can be insane poor or be in severe loss too ,who knows when the coin will collapse and even if he cashes out then it could end up crashing the market and this is why bitcoin needs time a lot more time to get stable and used properly. 
It would be one hell of a pump that's for sure, followed by a huge amount of people selling when prices rise higher and higher, causing the bubble to burst.
Would make Bitcoin a lot more popular with the general public though...
Would make Bitcoin a lot more popular with the general public though...
OMG! $700 million USD to BTC, when he cash it out after years he will be insanely rich, the richest. But it depends on how much years he holds it.
There are probably not enough liquid coins to buy enough at a decent price.
If that amount was spend over say a year, price could potentially multiply a couple of times.
If that amount was spend over say a year, price could potentially multiply a couple of times.
When the $700 million is used to buy the bitcoin slowly, the average price could be $2,000 each. So it can only buy 350,000 bitcoin.
if you buy it really slow, in a tiem frame of many months, the market will not notice it basically, it would just increase by 700M the marketcap, which is 1/7
this mean a value of $510
You're right
If you just buy every now and then when the market dips, you should be okay not to do enough damage
As long as you don't bulk in all at once and at only 1 exchange
When the $700 million is used to buy the bitcoin slowly, the average price could be $2,000 each. So it can only buy 350,000 bitcoin.
if you buy it really slow, in a time frame of many months, the market will not notice it basically, it would just increase by 700M the marketcap, which is 1/7
this mean a value of $510
When the $700 million is used to buy the bitcoin slowly, the average price could be $2,000 each. So it can only buy 350,000 bitcoin.
It will be great pump with more than 1.5million bitcoin being bought. So a tall green bar with price spiking from 450 to almost 900$ within a day but i don't think the winner can easily transfer it to any exchanger to buy that amount of bitcoin.
So funny, I had a similar thought today.
It is notorious that Warren Buffet has no interest in bitcoin but knowing that the guy owns $66.7 billion and that there are, as of now, about 15 million BTC out, there, each of them, worth $450 (which bring the total value of all bitcoins out there to (15*10^6)*450=6,750,000,000 : $6.75 billion).
Warren Buffet has enough dollars to buy every single existing bitcoin 10 times. Who said that banks couldn't fuck the whole system up if they wanted to? I'm telling you that a single insanely rich dude already has much more power than is need on his own.
Either I'm wrong either this is some weird news (and somehow it's good news, though I'm sure that I can't be the first person to come up with that conclusion) : no one seems to be lifting a finger, either because they don't want to, either because for some reason they can't, although A LOT of people technically have the power to fuck the whole thing up and it doesn't even seem that demanding for them (if Warren Buffet felt threatened by bitcoin I'm sure that 6.7 billions wouldn't be such a big deal to him, and besides, banks have much more money than he even does).
It is notorious that Warren Buffet has no interest in bitcoin but knowing that the guy owns $66.7 billion and that there are, as of now, about 15 million BTC out, there, each of them, worth $450 (which bring the total value of all bitcoins out there to (15*10^6)*450=6,750,000,000 : $6.75 billion).
Warren Buffet has enough dollars to buy every single existing bitcoin 10 times. Who said that banks couldn't fuck the whole system up if they wanted to? I'm telling you that a single insanely rich dude already has much more power than is need on his own.
Either I'm wrong either this is some weird news (and somehow it's good news, though I'm sure that I can't be the first person to come up with that conclusion) : no one seems to be lifting a finger, either because they don't want to, either because for some reason they can't, although A LOT of people technically have the power to fuck the whole thing up and it doesn't even seem that demanding for them (if Warren Buffet felt threatened by bitcoin I'm sure that 6.7 billions wouldn't be such a big deal to him, and besides, banks have much more money than he even does).
You'd be crazy to do this. I think the market of bitcoin would collapse with that much money invested into it. I would probably only buy a small portion of bitcoin and gain bitcoins little by little that way so it wouldn't hurt the market.
It would push the price up in the tens of thousands depending on how many sellers piled in. Then it would collapse completely and sit in the doldrums for a long, long time. I can think of more fun ways to set a few hundred million on fire.
I don't think anyone would do this though
Seems like a waste for now, if I ever won that much I would maybe only dump a small portion of that into bitcoin
Seems like a waste for now, if I ever won that much I would maybe only dump a small portion of that into bitcoin
I think we all see now how smart is to come here first and ask something before u do anything related with btc. Especially when is about some big investment.
The price would rise when he would be buying. And it would rise really high. After that it would work as normal, but when he would sell them all, the price would drop horribly.
Putting that much of money straight to Bitcoin would be insane. If i got that jackpot, i would buy maybe $10k worth of Bitcoins every here and there and invest in real estates and other commodities.
if i won $700 000 000 i would put a little more than 10000 in to it, but yeah your right dumping it all in would just be stupid
I don't think anyone would do this though
Seems like a waste for now, if I ever won that much I would maybe only dump a small portion of that into bitcoin
Seems like a waste for now, if I ever won that much I would maybe only dump a small portion of that into bitcoin
Back to OP's question: since there are around 6 billion dollar's worth of Bitcoin in the world now the dumping of $700 million into the BTC exchange would definitely impact the price but not much, maybe 20-25% which is a normal thing for Bitcoin even when there are no apparent reasons for that. )
Hell no it doesn't works that way ,the 6 billion dollar market is for all the bitcoins at present and not for the selling orders.If someone actually dumps that much mount of coins the price would be round 30% of what it is today.Satoshi did the same thing and we have seen the effects. 
Op's questions are only based on hypothetical situation. IMO no one will do this. If I won it, I only could spare $1 m to bitcoin , which wouldn't have much impact on the price movement and will be safe for the investment.
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