7 ms·
You can, it's confusing but there is Bitcoin, Bitcoin Cash, Bitcoin Gold, and soon to be another one Bitcoin Segwit2x or some such. Each of these other "versio
by Slaul 9y ago
You can, it's confusing but there is Bitcoin, Bitcoin Cash, Bitcoin Gold, and soon to be another one Bitcoin Segwit2x or some such.
Each of these other "versions" of bitcoin were created by a fork. As far as I know, when a fork happens you get an equal number of "new coin" as you have original coin. Seemingly creating value out of nothing.
- vanderreeah 9y agoAh I missed the different name. Thanks for the clarification. I was thinking of comments I've seen before where people say that if you have 100 bitcoins you'll have a hard time converting them to (e.g.) $700k cash.
- madamelic 9y agoYou would. If you put a sell order at 7,000 with a volume of 100, it would (likely) cause a flash crash You can see flash crashes all the time when someone offloads a bunch of coins without balancing across exchanges. Plus, you would have to find quite a few people that wanted to buy coins @ 7,000 and finding them before your order causes a flashcrash isn't likely.
- mywittyname 9y agoMy understanding is that most exchanges won't allow you to move more than $10k/day or so out of your account. So, if you use three separate exchanges, it might take you a month to liquidate the entire stake.