Topic: $700 million lottery jackpot straight to BTC - page 3. (Read 2401 times)
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.
this could pump the market as i can see, after that? the price of bitcoin would be gone back to the which is before the jackpot winner claims the prize, this could lead to major loss within a pump. 
that's why you should not get your jackpot in bitcoin lumpsum.
that's why you should not get your jackpot in bitcoin lumpsum.
which mean that from 700M you will be getting only peanuts from your treasure
would be useless to dump everything i would buy however a huge portion, because i want bitcoin to succeed
The price will be pumped to over $1000 again, probably over the peak level in the end of 2013. It is another buble again. After that the price will come back to $500 level. I have to say it is stupid to convert all the jackpot to btc and pump it up.
If you win 700 million dollar I wouldn't just do it in BTC I will just do 10.000 dollar worth of bitcoin and the rest for vacation or buying home. Is just waste of money if you do it in my opinion. If I win that kind of money I will just retire in my country and I am happy.
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?
whit 700M, you don't need to do this, just relax and enjoy your life in a beach whit hot girls
Although I think that enjoying your life with one hot girl is better than doing it with girls , I like this reply the most.
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. )
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?
whit 700M, you don't need to do this, just relax and enjoy your life in a beach whit hot girls
Initially it would lead to a price pump of Bitcoin value but since you said to lock it up there fore few years then as markets adopts to the newly added value, it also goes in a slow dump in value over the years as long as nothing happens to it and the moment he decides to cashout and dump it, it could go either way, would he sell it to someone that buys it at same value and sell it higher, then little dump will happen only but if he sells it to a very cheaper value than the market then big dump could be expected.
It would be a huge waste of money...
this could pump the market as i can see, after that? the price of bitcoin would be gone back to the which is before the jackpot winner claims the prize, this could lead to major loss within a pump.
that's why you should not get your jackpot in bitcoin lumpsum.
that's why you should not get your jackpot in bitcoin lumpsum.
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?
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