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Easily. That's less than the daily volume on just one exchange: https://coinmarketcap.com/currencies/ripple/#markets https://coinmarketcap.com/currencies/rippl

Easily. That's less than the daily volume on just one exchange: https://coinmarketcap.com/currencies/ripple/#markets https://coinmarketcap.com/currencies/ripple/#markets Of course, you won't get a good deal if you just try and dump $42M worth of Ripple in one sale order. I'd spread it over a week over multiple exchanges. But note that it will actually be a billion dollars worth of Ripple, which is much much harder to sell.

s17n 9y ago
Right, I was thinking more along the lines of needing to raise the $42 mil to exercise the option. Anyway, I'm really curious about what the relationship between trading volumes and how much money you can actually get is - it doesn't seem obvious to me. Like, if I'm a trader trying to make short term gains trading a million dollars a day, and I decide on a new strategy that involves doing 10 times more trades, the volume just went up by $9,000,000/day but the underlying demand for currency is still the same. I posted an ask HN about this at https://news.ycombinator.com/item?id=15203974 https://news.ycombinator.com/item?id=15203974
- olegkikin 9y ago
  It depends which currency/ICO you're talking about. Trading $10M/day in bitcoin world is not a big deal. You can look at the market depth on various exchanges: http://bitcoinity.org/markets/bitstamp/USD http://bitcoinity.org/markets/bitstamp/USD For instance, if you dump $10M worth of bitcoin on Bitstamp, the price will shift by only $270, and that's ignoring the hidden limit orders. And the market will react to it as well - cheaper coins create more demand.
  - s17n 9y ago
    I'm not totally sure what the chart means (and I did read the explanation), but if I'm understanding you correctly, you're saying that Bitstamp has $10M worth of buy orders for BTC at a price of at least $(current price - 270)?
    - modeless 9y ago
      Yes, that is what he means. You can see a combined order book for most of the large exchanges here: http://data.bitcoinity.org/markets/books/USD http://data.bitcoinity.org/markets/books/USD For example, by looking at this chart one can calculate that if one sold 10,000 Bitcoins right now with simultaneous market orders across all exchanges, one would receive north of $40M and the price would drop to $4,000.
      - justjonathan 9y ago
        That's great in theory, but in practice that's not what happens, because new orders influence existing orders, and cause additional new orders to be created. Much smaller sales can in fact, and to do, cause much larger price movements.
- runeks 9y ago
  > Right, I was thinking more along the lines of needing to raise the $42 mil to exercise the option. I have a hunch that finding someone willing to lend $42m, given a court ruling that it can be turned into something worth $1bn, will be quite easy.
  - s17n 9y ago
    If you can quickly sell 42M worth, it's risk free. Otherwise, you're betting on the long term viability of Ripple.
    - runeks 9y ago
      That’s a fair point. I’m not sure how much the Ripple/USD market can actually handle. Probably a lot less than a $1bn market sell order. And selling them slowly isn’t really a solution if people know what’s going on, since they will then front-run the large sell, thus eating up buy orders and lowering the price before everything has been sold off.

s17n 9y ago

Right, I was thinking more along the lines of needing to raise the $42 mil to exercise the option. Anyway, I'm really curious about what the relationship between trading volumes and how much money you can actually get is - it doesn't seem obvious to me. Like, if I'm a trader trying to make short term gains trading a million dollars a day, and I decide on a new strategy that involves doing 10 times more trades, the volume just went up by $9,000,000/day but the underlying demand for currency is still the same. I posted an ask HN about this at https://news.ycombinator.com/item?id=15203974 https://news.ycombinator.com/item?id=15203974

olegkikin 9y ago
It depends which currency/ICO you're talking about. Trading $10M/day in bitcoin world is not a big deal. You can look at the market depth on various exchanges: http://bitcoinity.org/markets/bitstamp/USD http://bitcoinity.org/markets/bitstamp/USD For instance, if you dump $10M worth of bitcoin on Bitstamp, the price will shift by only $270, and that's ignoring the hidden limit orders. And the market will react to it as well - cheaper coins create more demand.
- s17n 9y ago
  I'm not totally sure what the chart means (and I did read the explanation), but if I'm understanding you correctly, you're saying that Bitstamp has $10M worth of buy orders for BTC at a price of at least $(current price - 270)?
  - modeless 9y ago
    Yes, that is what he means. You can see a combined order book for most of the large exchanges here: http://data.bitcoinity.org/markets/books/USD http://data.bitcoinity.org/markets/books/USD For example, by looking at this chart one can calculate that if one sold 10,000 Bitcoins right now with simultaneous market orders across all exchanges, one would receive north of $40M and the price would drop to $4,000.
    - justjonathan 9y ago
      That's great in theory, but in practice that's not what happens, because new orders influence existing orders, and cause additional new orders to be created. Much smaller sales can in fact, and to do, cause much larger price movements.
runeks 9y ago
> Right, I was thinking more along the lines of needing to raise the $42 mil to exercise the option. I have a hunch that finding someone willing to lend $42m, given a court ruling that it can be turned into something worth $1bn, will be quite easy.
- s17n 9y ago
  If you can quickly sell 42M worth, it's risk free. Otherwise, you're betting on the long term viability of Ripple.
  - runeks 9y ago
    That’s a fair point. I’m not sure how much the Ripple/USD market can actually handle. Probably a lot less than a $1bn market sell order. And selling them slowly isn’t really a solution if people know what’s going on, since they will then front-run the large sell, thus eating up buy orders and lowering the price before everything has been sold off.