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There's not a single market. The volume at a particular exchange matters. Note the disparity Coinbase had recently.

• gruez 9y ago
  i just checked 3 relatively legitimate bitcoin exchanges (kraken, gdax, bitstamp). you could put a 300k sell order on any of them and have less than 0.5% of slippage, which is much less than regular trading volatility. plus if you really wanted to, you could spread your trades among multiple exchanges and execute them simultaneously for even lower slippage.
  • xapata 9y ago
    Not as disasterous as I thought, but still not great. Worse, when you most want to sell is when others do too, so the liquidity may change. How'd you confirm that estimate, by making a trade?
    • gruez 9y ago
      you don't. how most exchanges work is that when selling, you can place a limit order (sell at that price or higher), or a market order (sell at whatever price). if you want certainty, you use limit. if you want to make a trade now, you use market.
      • xapata 9y ago
        Ah, so that 0.5% was just a wild guess. Others have chimed in that they've sold a bunch in one day and been fine, but ... there's always folks that want to pump the price, so I'm not sure what to believe.