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If all of those bitcoins were liquidated at once, that would probably depress the market significantly.
by bdonlan 15y ago
If all of those bitcoins were liquidated at once, that would probably depress the market significantly.
- kylebrown 15y agoUsing the current mtgox order book (mtgoxlive.com), such a sell would push the price from $4.60 (where it is now) down to about $4.00.
- wmf 15y agoNot that much, actually. If I'm reading it right, you could sell 50K BTC at $3.90, causing the market to drop "only" 17%. http://bitcoincharts.com/markets/mtgoxUSD_depth.html http://bitcoincharts.com/markets/mtgoxUSD_depth.html And some selling is going on: http://bitcoincharts.com/charts/mtgoxUSD#rg1ztgSzm1g10zm2g25zv http://bitcoincharts.com/charts/mtgoxUSD#rg1ztgSzm1g10zm2g25...
- nitrogen 15y agoAs someone who is unfamiliar with how exchanges work, I'm curious what an "ask" for 1.337 trillion dollars in bitcoins means, exactly: 1337000000000.00 1 (1) 272981 1405085033491
- bdonlan 15y agoNot entirely sure, but I believe this represents someone willing to sell 1 BTC for $1,337,000,000,000.00, where all sell orders in the order book add up to 272981 BTC and USD$1,405,085,033,491
- Tichy 15y agoOne of the hacked exchanges said they'd reimburse their clients, so I guess they'll buy roughly the amount that was stolen.