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I don't underestimate the volatility... I watch the price very carefully, and understand how volatile it is. Bitcoins are converted to USD and back to BTC every
by nym 14y ago
I don't underestimate the volatility... I watch the price very carefully, and understand how volatile it is. Bitcoins are converted to USD and back to BTC every day. If you were to try to sell ALL the bitcoins in one day that would clear out the order books, and would likely cause a crash and then rally, much like we saw when there was a bug in the blockchain. The price dropped to $37, and quickly went back to the original price due to the demand.
The volume of MTGOX-USD is $69M for a 30 day period, which is about $2.3M a day. Source: http://bitcoincharts.com/markets/mtgoxUSD.html http://bitcoincharts.com/markets/mtgoxUSD.html