Firstly, many of the wallets which have significant amounts of bitcoins are actually lost, so its unlikely they cash out at once.
Secondly, when huge bitcoin sales do take place, they do not typically occur via an exchange, and thus do not affect the market price.
Furthermore, selling the entirety of his holdings at once would be very difficult unless it was to an institutional investor, and they would be likely to take quite a hit on the rate, probably -20% or more at that volume.
Topic: What if this guy with 96,651 BTC suddenly cashes out? - page 4. (Read 777 times)
cashing out of bitcoin ..... lol
We can only guess why he bought this large amount of bitcoins. But he will for sure not cash out suddenly. It's more likely he'll buy even more bitcoins.
If he bought that many bitcoins then for sure he is not gonna sell anytime soon. Probably he wanted to make sure he has enough for the future
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%?
Nobody sensible "suddenly cashes out" - unless they want to sell for considerably lower than the current price.
Most likely they'll sell in tranches over the counter, rather than on exchanges.
I do not think there will be anything if a man with so many Btc goes crazy I stay with his family so much Btc I'm mad so you do not notice anything in your family.
This amount is far less than the total supply,so i think it wont have a significant effect on the price of bitcoin. If you look at the volumes of bitcoin on the numerous exchanges we have,you will realize that a lot of bitcoins are being sold daily,but the price is still not affected significantly.
Only a complete and total imbecile would send that much to an exchange. All of the seriously big trades happen OTC which never touches the live market. Vast amounts can change hands P2P.
They would also have buyers lining up. It's very rare to be able to obtain amounts of that magnitude from anywhere.
They would also have buyers lining up. It's very rare to be able to obtain amounts of that magnitude from anywhere.
Does this mean an insignificant drop of ca. 0.57%?
Check the candles on the markets. 100k BTC sold in one day at one exchange can cause a drop of even 15-18%, but this only if the other markets are also selling.
A smart seller would spread between the top 2-3 exchanges and then the result would be about 3x smaller drop (and better price for the seller).
Depending on market's mood, such a drop can cause a downtrend or it grows back in less than a day. I expect more the second.
Does this mean an insignificant drop of ca. 0.57%?
That would not be significant, but you're putting a lot of concen on one event that actually happens more frequently than you think.
It doesn't matter if selling comes from 1 wallet or 1,000, there have been plenty of days, weeks, or months where there's been a major sell off. And major sell offs will drive the price down. It's all normal in the cycle of supply and demand investing.
The only concern you should have related to 1 wallet selling Bitcoin, is Satoshi's wallet...the first wallet...if you see coins coming out of that wallet you'll see a lot of people asking questions.
This wallet shows as the third richest on the rich list, and instincts tell me that it's somehow affiliated with Bitfinex.
but there is no clue
https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64
source internet
some news channel talking about holder of this address
https://www.dailysabah.com/finance/2018/02/16/gutsy-trader-who-bought-400-million-in-bitcoin-at-its-low-is-nearing-billionaire-status
https://www.finder.com.au/worlds-third-richest-bitcoin-wallet-just-bought-41000btc
as per news this person has invested 400 million dollar at 8500$ about 41000 btc
but there is no clue
https://blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64
source internet
some news channel talking about holder of this address
https://www.dailysabah.com/finance/2018/02/16/gutsy-trader-who-bought-400-million-in-bitcoin-at-its-low-is-nearing-billionaire-status
https://www.finder.com.au/worlds-third-richest-bitcoin-wallet-just-bought-41000btc
as per news this person has invested 400 million dollar at 8500$ about 41000 btc
I'm sure if he was to cash out it would cause a big ripple through the crypto world. I would like to think if you have that much bitcoin you see how it can be used in the future and not just into crypto currencies for quick gains.
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%?
Woow!!! now that is a lot of coin, ...
I would go bananas over this, if i had this account..
Anyways i dont think he will sell all that just once, besides, there are limits a person can sell, ...
But for the answer to your question, if he suddenly cashes out, yes, there is gonna be a high or low in the market, however it goes, i am not sure .
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%?
Well yes there is a significant of price in bitcoin if whoever owns that address will sold all of his bitcoins but on the other hand, i high doubt that one person owns that huge amount of bitcoins in that address (i only know person who owns a huge amount of bitcoins 40k to be exact and that is roger ver) and if that person owns that amount of bitcoin and cashes out, the problem is the banks and the government depending on what country he /she lives they will investigate you regarding with your money received on your bank account from the exchange or worst he/she will be charged with money laundering. If you ask me, who owns that address? I 'd that address owned by an exchange. Currently circulating supply for Bitcoin is 16,874,375 BTC.
Does this mean an insignificant drop of ca. 0.57%?
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%?
If he had cash out this much bitcoin in a one day.He will loss a huge for sure. As we know the price of bitcoin will increase further and now the value is low ,they will feel for entire selling in one day.
Best option to cash out in bitcoin is selling it based on the requirement. We should keep some bitcoin for our future.
This guy is buying, he does not probably need that money so that he will never cash out all of them suddenly, even all world make crypto illegal, he would buy more 
this is how they make millions of dollars.
this is how they make millions of dollars.
Those are a lot of bitcoin for only one guy. How can he handle it? 
I hope he doesn't cash out because that would affect the bitcoin price
I hope he doesn't cash out because that would affect the bitcoin price
We have had similar situations when the Silkroad coins were sold on auction. {about 50,000 bitcoins} This only had a slight
impact for a few days, until the market absorbed the news. Luckily most of those coins were bought by hoarders, so it was
not dumped onto the exchanges at once. Most of these people know that the price will drop, so they will not dump a lot of
coins at the same time. They will sell small batches at a time to get the highest price possible.
impact for a few days, until the market absorbed the news. Luckily most of those coins were bought by hoarders, so it was
not dumped onto the exchanges at once. Most of these people know that the price will drop, so they will not dump a lot of
coins at the same time. They will sell small batches at a time to get the highest price possible.
I only see in that case, the market will start dropping hard atleast another 30 percent bringing back btc to new lows. This has happened several times in the market and always in this scenario , the buyers take back buy positions at cheaper prices and start waiting again to hit their target price and then cash out.But long term investors are never interested in this type of stuff as they believe in asset based.
Then he's not smart.
1.) He would be devaluing his own money.
2.) He would he need 96,651 BTC worth of money for? He can just cash out a little by little
3.) He would be cashing out before BTC is massively adopted in the future when he can just spend BTC and not fiat money.
4.) RIGHT NOW BTC IS CHEAP! (DYOR and come to your own conclusions on that one)
1.) He would be devaluing his own money.
2.) He would he need 96,651 BTC worth of money for? He can just cash out a little by little
3.) He would be cashing out before BTC is massively adopted in the future when he can just spend BTC and not fiat money.
4.) RIGHT NOW BTC IS CHEAP! (DYOR and come to your own conclusions on that one)
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