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So much going on here. > What if a bulk of Bitcoin owners all try to cashout today? What happens during a bank run? https://www.investopedia.com/terms/b/bank
by thisisit 9y ago
So much going on here.
> What if a bulk of Bitcoin owners all try to cashout today?
What happens during a bank run?
https://www.investopedia.com/terms/b/bankrun.asp https://www.investopedia.com/terms/b/bankrun.asp
The chance of bank default rises. Something similar will happen.
> Where's all this invisible money gonna come from?
Bitcoin addresses are public. Recently there was a panic when a supposed whale moved 10k, I remember correctly to an exchange.
> Hacks
Well, this adds an interesting angle to the whole topic. Most of the hacks don't mention suspected bitcoin addresses. So, a hacker can run the coins through a tumbler to get "clean" bitcoins.
For the nicehash hack, this is the suspected account:
https://blockchain.info/address/1EnJHhq8Jq8vDuZA5ahVh6H4t6jh1mB4rq https://blockchain.info/address/1EnJHhq8Jq8vDuZA5ahVh6H4t6jh...
The coins are still in the account, unmoved. So, whether these guys can get the "hidden" bitcoins and cause a crash is an interesting topic to think about.