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Topic: Bitpay just processed its first 1,000,000 USD order, Dump incoming? - page 4. (Read 5512 times)

full member
Activity: 154
Merit: 100
On Gox a million USD dump would still only go down just under $200.   This would be a normal dump and most likely recovered in an hour or so.
5k would have been a normal dump 6 months ago. 5k is a massive dump now and no way would the price recover in one hour, especially if done on one exchange. Panic would probably kick in.



there will be no panic. How much money is invested to BTC we can only dream about it
sr. member
Activity: 448
Merit: 250
Seeing as how the transaction was settled before the 3 day old press release, I wouldn't count on a dump.

Actually, might this explain the LAST dip (down to $157 on stamp)?
hero member
Activity: 826
Merit: 508
On Gox a million USD dump would still only go down just under $200.   This would be a normal dump and most likely recovered in an hour or so.
5k would have been a normal dump 6 months ago. 5k is a massive dump now and no way would the price recover in one hour, especially if done on one exchange. Panic would probably kick in.
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
lol if this the first time somebody actually took some money out related to ASICs.
vip
Activity: 1386
Merit: 1140
The Casascius 1oz 10BTC Silver Round (w/ Gold B)
I would bet they want the bitcoin and already have private buyers lined up eager to get legit coins from a reputable vendor in bulk.
hero member
Activity: 546
Merit: 501
like everybody who owns big amounts of bitcoins have to dump them right away on the market instead of just list them on the ask side if they have to sell it.
Not everybody needs fiat money in this very second.
hero member
Activity: 841
Merit: 1000
I think butterfly labs is responsible enough to not dump this all at the same time. Would be very stupid if they did. Butterfly labs benefits from a high Bitcoin price aswell. Think logic people.
hero member
Activity: 518
Merit: 500
On Gox a million USD dump would still only go down just under $200.   This would be a normal dump and most likely recovered in an hour or so.
full member
Activity: 154
Merit: 100
it is a huge amount of coins
legendary
Activity: 2156
Merit: 1094
Or they could sell them within the next hour, who knows for sure?
legendary
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
It's only 5k coins...

(They can sell them to the Bitcoin Trust.)
legendary
Activity: 1904
Merit: 1002
Seeing as how the transaction was settled before the 3 day old press release, I wouldn't count on a dump.
legendary
Activity: 1022
Merit: 1000
http://www.reddit.com/r/Bitcoin/comments/1pgny0/bitpay_processes_1_million_transaction_for/

Its for BFL btw. How and when will they convert the coins to USD?

Anybody knows?
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