3 ms·
> I've heard rumblings of this from some big players who are trying to sell some of their bitcoin, but network transactions are so backlogged that it's an illiq
by kentt 9y ago
> I've heard rumblings of this from some big players who are trying to sell some of their bitcoin, but network transactions are so backlogged that it's an illiquid market for them at the volumes they are looking to trade.
This is false for two reasons.
1. It makes no sense. If a big player wants to move some Bitcoin, getting it in the next block is no problem. For a few bucks in fees you can pretty much guarantee your million bucks will be in the next block. I'm sure that's negligible as compared to moving that money afterwards.
2. If there are numerous big players trying to make huge exits, then the price would reflect that.
Comments like these make it so difficult to read about Bitcoin on hn. It appears that people are blindly and desperately hoping that Bitcoin goes down to the extent they'll abandon their otherwise clear thinking. Is it just frustration that they missed out or don't understand the complexities of money?