When Bitstamp reopens, I'm not convinced that anyone will be eager to immediately exchange BTC for fiat on an exchange which will yet to have proven whether users can quickly withdraw fiat from their Bitstamp accounts. I think it's far more likely that those with BTC on the exchange will withdraw them to their own wallets; those with fiat on the exchange will immediately buy BTC and then withdraw them to their wallets - since it's the quickest and easiest way to withdraw. I may be wrong, but that seems the most likely scenario which, if true, would lead to an immediate demand for BTC and a price-rising rally. Who knows how strong the rally would be though...
Ironically, this would mean that the less faith people have in Bitstamp once it reopens, the greater the price increase.
Ironically, this would mean that the less faith people have in Bitstamp once it reopens, the greater the price increase.
I agree. I had actually just submitted a wire transfer to send to Bitstamp. Luckily a call to the bank got it cancelled before they executed it. If it had gone through I would have a) been more nervous and b) get it out the quickest way I could.
A counter argument would be that. I'm wondering if BTC withdrawals won't be significantly delayed on the day also as they presumably would face a lot of withdrawals. I.e. their hot wallet will continually be depleted. Depending on how manual the cold-wallet process this would lead to delays. Of course wire would also be delayed.
This is of course assuming they are 100% funded on the day.
you'll likely buy from me... king USD is here ... everyone will print to max but US. Combine that with oil fallout = all commodities are fucked. I also wildly speculate strong USD will fuck up equities too. Congrats to FED. Job well done... financial meltdown in 3 ... 2... 1... (pick your timeframe)
