What do you think buying $20,000.00 worth of BTC would do to the market? 
knock the price up about $.20/btc
Topic: Moving countries... need to exchange currencies... (Read 1284 times)
knock the price up about $.20/btc
That's amazing to know and shows how fragile bitcoin really is hanging on a knifes edge if $20,000 can push the price down $0.02. I seen someone cashing that amount in the bank the other day in £50's.
I suspect it has a lot to do with the exchange rate.
Right now 20,000 USD worth of bitcoin is about 1481.48148 BTC. Since there is a total of approximately 10,638,000 bitcoins in circulation, that means that a purchase of 20,000 USD worth of bitcoin is a purchase of about 0.014% of the entire bitcoin market.
Now if the exchange rate was quite a bit higher, 0.00000001 BTC = $0.01 for example, then 20,000 USD worth of bitcoin would only be 0.02 BTC. That works out to only 0.000000188% of the market.
That is certainly an important factor. Adoption also helps, and we are obviously further along there than we have ever been before.
That's amazing to know and shows how fragile bitcoin really is hanging on a knifes edge if $20,000 can push the price down $0.02. I seen someone cashing that amount in the bank the other day in £50's.
I suspect it has a lot to do with the exchange rate.
Right now 20,000 USD worth of bitcoin is about 1481.48148 BTC. Since there is a total of approximately 10,638,000 bitcoins in circulation, that means that a purchase of 20,000 USD worth of bitcoin is a purchase of about 0.014% of the entire bitcoin market.
Now if the exchange rate was quite a bit higher, 0.00000001 BTC = $0.01 for example, then 20,000 USD worth of bitcoin would only be 0.02 BTC. That works out to only 0.000000188% of the market.
What do you think buying $20,000.00 worth of BTC would do to the market?
Maybe push it $0.02 cents, at the moment:
- http://mtgoxlive.com/orders
Hover over the blue line (near the bottom) to see about $20K. It is currently less than a penny above the bottom (spot) value.
That's amazing to know and shows how fragile bitcoin really is hanging on a knifes edge if $20,000 can push the price down $0.02. I seen someone cashing that amount in the bank the other day in £50's.
You would have shit yourself a year ago.
Bitcoin is rock solid liquidity wise now compared to then.
What do you think buying $20,000.00 worth of BTC would do to the market?
Maybe push it $0.02 cents, at the moment:
- http://mtgoxlive.com/orders
Hover over the blue line (near the bottom) to see about $20K. It is currently less than a penny above the bottom (spot) value.
That's amazing to know and shows how fragile bitcoin really is hanging on a knifes edge if $20,000 can push the price down $0.02. I seen someone cashing that amount in the bank the other day in £50's.
Well every trade volume larges than the lowest ask will move the market. If you place an order of say 1500 BTC now, you would move the ask from 13.44 to 13.53 or thereabouts, but it would soon come down. You could spread the order over a few hours. Or you could place a bid say 5 cents under the highest bid, and hope someone is lured to to take it. Of course it will also press the price upwards long term. Another newcomer wanting to stash some coins. Good for me if you do it.
What do you think buying $20,000.00 worth of BTC would do to the market?
Maybe push it $0.02 cents, at the moment:
- http://mtgoxlive.com/orders
Hover over the blue line (near the bottom) to see about $20K. It is currently less than a penny above the bottom (spot) value.
That's amazing to know and shows how fragile bitcoin really is hanging on a knifes edge if $20,000 can push the price down $0.02. I seen someone cashing that amount in the bank the other day in £50's.
Those are only visible orders on one exchange. A lot of volume is transacted outside of gox or in response to price movements.
True I know that as I very rarely trade on MtGox myself but considering MtGox is supposed to handle over 90% of central-exchange trading! Maybe central exchanged bitcoin trading makes up less than 50% of trading but it still says a lot. Although I know bitcoin is still in beta and has not done bad in its first four years. As the years roll on and (hopefully) the market capitalisation continues to grow exponentially.
What do you think buying $20,000.00 worth of BTC would do to the market?
Maybe push it $0.02 cents, at the moment:
- http://mtgoxlive.com/orders
Hover over the blue line (near the bottom) to see about $20K. It is currently less than a penny above the bottom (spot) value.
That's amazing to know and shows how fragile bitcoin really is hanging on a knifes edge if $20,000 can push the price down $0.02. I seen someone cashing that amount in the bank the other day in £50's.
Those are only visible orders on one exchange. A lot of volume is transacted outside of gox or in response to price movements.
What do you think buying $20,000.00 worth of BTC would do to the market?
Maybe push it $0.02 cents, at the moment:
- http://mtgoxlive.com/orders
Hover over the blue line (near the bottom) to see about $20K. It is currently less than a penny above the bottom (spot) value.
That's amazing to know and shows how fragile bitcoin really is hanging on a knifes edge if $20,000 can push the price down $0.02. I seen someone cashing that amount in the bank the other day in £50's.
What do you think buying $20,000.00 worth of BTC would do to the market?
Maybe push it $0.02 cents, at the moment:
- http://mtgoxlive.com/orders
Hover over the blue line (near the bottom) to see about $20K. It is currently less than a penny above the bottom (spot) value.
where are you moving, from/to?
How would you buy tons of silver without crashing the market? Little by little, right?
nothing. if you play your hand right....
I wouldn't know 'playing my hand right' if it slapped me across my face.
What do you think buying $20,000.00 worth of BTC would do to the market?
nothing. if you play your hand right....
What do you think buying $20,000.00 worth of BTC would do to the market?
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