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It doesn't matter much what the denomination is. Most sane businesses would convert to the currency of whatever their expenses are anchored in. a) I think you
by wyldfire 9y ago
It doesn't matter much what the denomination is. Most sane businesses would convert to the currency of whatever their expenses are anchored in.
a) I think you're mistaken. $4B per annum is unlikely to move the markets much.
- IncRnd 9y ago> I think you're mistaken. $4B per annum is unlikely to move the markets much. It sure will if you try to sell it. Holding it certainly isn't the issue.
- wyldfire 9y agoThe daily volume at the beginning of 2017 was $200M USD. The daily volume at the end was $8T USD. $4B over 365 market days is somewhere between 1-4% of the daily market. If liquidating their bitcoin tanked the market in 2017, it wasn't too noticable.
- tlrobinson 9y agoI don’t think you can extrapolate liquidity from volume, especially when there are exchanges with very low or zero fees.
- tlrobinson 9y agoI’m guessing Bitmain can’t pay for electricity with BTC. Are there estimates of how much (fiat) money flowed into cryptocurrencies in the last year? It would have to be much more than $4B for Bitmain to be able to sell $4B worth of BTC and still see the 1000% gain.