Topic: What if this guy with 96,651 BTC suddenly cashes out? (Read 776 times)
If this guy really is holding this amount of Bitcoin I think his main objective is to benefit from it. By cashing it one time he will not maximise his profit so he knows that to really take advantage of this amount of Bitcoin is to sell it slowly, make the price a little steady. Other way could be selling it by parts to the highest bidder.
I was thinking on how was he able to get it ? 96,651 BITCOIN ? im confused and at the same time amazed
HE wont be able to cash all that bitcoin , because thre s a limit to how many u can withdraw
HE wont be able to cash all that bitcoin , because thre s a limit to how many u can withdraw
Is this real? If this is really Yes then it is amazing how much he feels so happy, but whether or not someone will eventually seek HIS lost possession. Very risky! If indeed i find it, i will surely keep it!
It will be a problem for him and all bitcoin users, he will become the government target to pay taxes and for the bitcoin users there will be a huge price drop, but it will be a chance for people to buy btc at lower price, the person will regret if he sell it all at once, if he is a good investors then he will sell it slowly
We can only guess why he bought so many bitcoins.
If this guy suddenly decides to sell his bitcoin, the BTC will go down.
If this guy suddenly decides to sell his bitcoin, the BTC will go down.
If this guy cash out all of his bitcoin it is a big dump but i'm sure that he cannot easily sell that amount of bitcoin it might not affect the value of bitcoin that big maybe it goes down a little bit but market always bounce back.
Though he holds huge volume of bitcoin I think he cannot easily convert it into fiat money since government will run after him for sure. Bitcoin is great in terms of bouncing back a lot of whales are out here and they will not let bitcoin down easily. But hopefully they will not sold everything he have cause it can really affect the market for sure little by little.
Then the bitcoin will drop to the lowest value. No one wants to invest in bitcoin anymore. Bitcoin will disappear.
If this guy cash out all of his bitcoin it is a big dump but i'm sure that he cannot easily sell that amount of bitcoin it might not affect the value of bitcoin that big maybe it goes down a little bit but market always bounce back.
If could have a impact, but I think it will be very small and its for short term only. This is not 2013, way back the whales dumping can have significant effects, but since then, the ecosystem has changed a lot. No single whale can tip the balance on his favor and crash the market if that is his intention.
Yeah, I agree, the market will always bounce back from constant dumping, bashing the banks, and even regulations from government around the world.
If we're gonna think about it in a logical way, a whale with that amount of BTC will not dump it in a single transaction or single day. They will not be able to have the maximum profit they could take out of their BTC. The most probable way they could do is dump their coin in small amounts during a bull run but not during a bearish market. You should know that a whale is always after the profit and will not probably take any loss by dumping 96k BTCs all at once.
Well, in the end, this is cryptomarket and most of what's happening right now is illogical in every way.
Well, in the end, this is cryptomarket and most of what's happening right now is illogical in every way.
https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64
Currently circulating supply for Bitcoin is 16,874,375 BTC.
Does this mean an insignificant drop of ca. 0.57%?
Currently circulating supply for Bitcoin is 16,874,375 BTC.
Does this mean an insignificant drop of ca. 0.57%?
I am not ER guy ... but why that guy did that ?
If this guy cash out all of his bitcoin it is a big dump but i'm sure that he cannot easily sell that amount of bitcoin it might not affect the value of bitcoin that big maybe it goes down a little bit but market always bounce back.
https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64
Currently circulating supply for Bitcoin is 16,874,375 BTC.
Does this mean an insignificant drop of ca. 0.57%?
That is a hell lot of coins stored in one wallet. One thing i am sure about that wallet is that he wont be selling all the coins at once,i really do think it is practically impossible to sell everything in a single exchange,the only chance is when he puts all the coins under market value across different exchanges and then he might be able to crash the market temporarily and the market will move forward. Currently circulating supply for Bitcoin is 16,874,375 BTC.
Does this mean an insignificant drop of ca. 0.57%?
I think there is a limit of cashing out btc in a day so you can't just cash out all btc in one day.
There is indeed a limit in cashing out actual fiat, but not with 'cashing out' by just selling your coins on a specific exchange market that eats through available liquidity, and the latter example is what OP was referring to.The only limit there might be in place, is that an exchange could freeze the market and halt trading after a flash crash of 50% (trigger percentage could vary) occurred. It's a safety measure that's meant to calm the market.
If any of the big whales would suddenly cash out, Bitcoin's price could get quite a big hit. However, it is not in their interest to do it, since this way they would get far less cash than by selling slowly. On the other side, some super-whale could have the precise purpose to crash the prices so that he can buy the coins back cheaper. By the way, I guess this scenario has already occurred a number of times, perhaps even recently.
yes you are right. this scenario had been happen several time so we know how to handle it.
we dont need to be panic and sell all of our coin, we need more patience because we know this scenario is repeated more than 2 times.
I think there is a limit of cashing out btc in a day so you can't just cash out all btc in one day. If ever that it is possible, markets will crash assuming that the transaction is fast. Bitcoin price will suddenly fall down but will recover in the following months. But can't really say.
I'm afraid if this guy sells all his bitcoins, the market will fall: D. Look at the order book on bitfinex-96,651 BTC could lower the price to $ 3000!
Bitfinex isn't the only exchange. Somebody dumping 100k BTC there wouldn't cause the whole market to go below $3k. It would only crash finex and people seeing it would jump at the opportunity, knowing the other exchanges will trade much higher, especially the Asian ones, and that the market will recover very fast. This would end up being one of the best opportunities to make money and people would go from 0 to a millionaire overnight! Imagine how little 100k is compared to all the coins in the market right now. The real temporary dip all over the world after such event wouldn't be larger than $5000 and prone to a recovery to 10k within weeks. You'd be doubling your money on the same day and tripling it within months. If you believe this is going to happen start placing buy orders
I'm afraid if this guy sells all his bitcoins, the market will fall: D. Look at the order book on bitfinex-96,651 BTC could lower the price to $ 3000!
People with that amount of BTC is not that stupid.
Think like they will keep it there for a very long time, or they will cash out it in batch. When they sell a lot, the BTC price will affected and the next batch will be lower then previous one. So, its a lost.
No, that kind of people will not that stupid
Even if they really dump those big number of Bitcoin, a lot of strong hand will thanks to him/ her because having another crypto shopping
Think like they will keep it there for a very long time, or they will cash out it in batch. When they sell a lot, the BTC price will affected and the next batch will be lower then previous one. So, its a lost.
No, that kind of people will not that stupid
Even if they really dump those big number of Bitcoin, a lot of strong hand will thanks to him/ her because having another crypto shopping
For me, if he wants to spend the cash it will cause great movement through the crypto world. I would like to think if you have a lot of bitcoin you see how it can be used in the future and not just be a crypto currency for quick profit. 
If this guy is crazy he can spoil the money or he can spend it so he can go down but if he gets mad at the mad hospital he will have a rich family so money will not go another.
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