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Actually I’m kinda impressed someone put a market order to sell $30 million Bitcoin and the book filled it then and there. Yeah it moved the price. That’s a pr
by zaroth 7y ago
Actually I’m kinda impressed someone put a market order to sell $30 million Bitcoin and the book filled it then and there.
Yeah it moved the price. That’s a pretty big trade for BTC. Would BTC have cleared $30 million in actual trading volume a few years ago?
Now the fun part, good luck getting the cash out of the exchange!
- joering2 7y agoLuck has nothing to do with it. Someone who is able to either buy or sell such amount in short period of time is not a first timer; they definitely have access to get that dough converted/moved out of computer systems into their banking account as flawlessly as they sold that $30MM in the first place. Otherwise they would not have done such move at all.
- londons_explore 7y agoI suspect they are a first timer. There are lots of very rich amateurs in the bitcoin world. A pro would at a bare minimum split it into a few thousand timed orders.
- bubblewrap 7y agoAny reasons to expect that they won't be able to cash out? Why?
- ChainOfFools 7y agoamazing that a $30 million selloff translates to $21 billion market cap drop. held up by toothpicks
- mrb 7y ago«Now the fun part, good luck getting the cash out of the exchange!» Err... There are traders easily withdrawing tens of millions of USD every single week on Bitstamp. Bitstamp isn't MtGox.