Here you enter puerly speculative zone
beginning with that it is not currently possible to sell 100k BTC on any single market.
Not sure where you are getting that idea from (or you are reading your feed wrong).
Using MtGox API there is >100K BTC of buy orders at >$5.45 USD per BTC. The sum of top 100K BTC bids is $625,696.50 giving a weighted average bid price on a 100K sale of $6.256 on the 100K lot. The entire market depth (going down to pennies) is hundreds of thousands of BTC.
Of course that assumes none of those buys are removed or modified which is a bad assumption. If one dumped 100K it would cause automated traders to react and some of that bid support would vanish. Still that doesn't seem to be the point you are trying to make. It would be beyond stupid to sell 100K in one giant market order but it could be done.
Limit Price BTC Available Total USD Average Price
$6.00 73,102.99 $476,188.87 $6.51
$5.00 117,733.39 $715,747.51 $6.08
$4.00 167,704.01 $933,876.68 $5.57
$3.00 220,031.20 $1,119,208.22 $5.09
$2.00 251,109.52 $1,196,528.85 $4.76
$1.00 525,553.92 $1,517,255.31 $2.89
$0.00 25,653,635.23 $1,563,645.45 $0.06
The table above is showing max limit order than can be executed against the existing order book.
If you executed a limit order of $2.00 for more than 251,109.52 BTC you would drive the price down to $1.999999 and collect $1.196 mil USD for an average price of$4.76 per BTC.
If only that we know about market that you cannot even sell 100k it is more difficult predict how quickly the price will go back
Well now we know we can so we are one step closer.
Hi, thank you for your attention, we analyzed the problem and must admit you are absolutely right.
The problem turned out to be the following:
We use exchanges order book APIs for order books and bitcoincharts.com realtime TCP feed for trades.
It turned out that MtGox changed its API at some point to return truncated order book instead of full orderbook,
with an unspecified truncation boundary.
Now there is a separate API for full depth
https://en.bitcoin.it/wiki/MtGox/API/HTTP/v1#Full_Depth so we
will work on switching to it.
Note that
https://en.bitcoin.it/wiki/MtGox/API/HTTP/v1#Multi_Currency_depth doesn't
even mention truncation.
We archive order books from every supported exchange every 15 seconds, so the amount of data is pretty large.
Because of this it is not a simple matter of changing an URL - we need to test that increased data volume from
full mtgox orderbook won't have adverse effects. So our estimate on when full depth API implementation is 1 week.
Thank you for encouraging us with your subscription fee - we will work hard to prove that it is
worth every bitcent of it.
Bitcoin Development Team
(genuise and nimnul)
