3 ms·
> you can trade bitcoin for cash balances at various exchanges but actually withdrawing those balances is subject to miniscule daily/monthly withdrawal limits a
by gst 9y ago
> you can trade bitcoin for cash balances at various exchanges but actually withdrawing those balances is subject to miniscule daily/monthly withdrawal limits and if there's a run on the market those exchanges will almost certainly collapse.
Afaik Bitstamp doesn't have any withdrawal limits for verified users.
- panarky 9y agoUnlimited wire transfers out of Gemini, too.
- pbhjpbhj 9y agoCool, so Satoshi comes along and says "I'll have $100 Million please" then Bitstamp have the cash to cover it?
- divbyzer0 9y agoFor an exchange there needs to be a counterparty. While Bitstamp is known as 'an exchange', they are not the counterparty AFAIK. If Satoshi rocks up with 1 meeeelion BTC, if faith evaporates, the bid price could well be zero.