Run out of cash? With account holdings they have what 10 million? 20 million?
How many million would it take to cover all the people who want to cash out at $60 over the next month? Really think they'd end up with every bitcoin?
I know lots of people who wouldn't sell at $100, let alone $60. What is going to convince people BTC is really worth $30 and go sell everything at $60? And never buy back in? Something would really convince the community that BTC is worth $30 when MtGox will keep buying at $60. There's people who think BTC will hit $500. $1000. What happens when it caps out? Any massive sell off just causes much less supply and they end up slowly selling it right back. They have enough holdings to survive any swing.
People who use BTC as a currency will be loading money and buying daily as they do now.
How many million would it take to cover all the people who want to cash out at $60 over the next month? Really think they'd end up with every bitcoin?
I know lots of people who wouldn't sell at $100, let alone $60. What is going to convince people BTC is really worth $30 and go sell everything at $60? And never buy back in? Something would really convince the community that BTC is worth $30 when MtGox will keep buying at $60. There's people who think BTC will hit $500. $1000. What happens when it caps out? Any massive sell off just causes much less supply and they end up slowly selling it right back. They have enough holdings to survive any swing.
People who use BTC as a currency will be loading money and buying daily as they do now.
if you set a lower limit panic selling would stop, so mtgox would indeed run out of cash very fast. they make lot's of money, but not enough to stop a whole market from going down
oops, i reread my statement and i admit it does not make much sense
but still, someone setting the price is quite opposite to the fundamentals of bitcoin, so i guess there won't be many around who support it
