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Does bitcoin have the kind of volume/liquidity to make that kind of exchange without causing a significant disturbance in the exchange rate?
by debacle 12y ago
Does bitcoin have the kind of volume/liquidity to make that kind of exchange without causing a significant disturbance in the exchange rate?
- nhayden 12y agoNo, it would cause a pretty big swing. Large sums like this are unlikely to be put on an exchange, though - they'd be done through a private sale.
- mrb 12y agoYou are misinformed. 217k BTC is only a fraction of the monthly volume traded on some of the largest exchanges: they trade 3-6 million BTC per month (http://bitcoinity.org/markets/list?currency=ALL&span=30d http://bitcoinity.org/markets/list?currency=ALL&span=30d), so one could trade 217k spread over 30 days without causing swings. (Only if you did the trade at once, it would cause one sudden swing.)
- nhayden 12y agoDumping it all at once is what I had in mind.
- vectorpush 12y agoWell, I wouldn't expect someone to try cashing out such a large sum at once. I assume they'd just cash out a few thousand here and there as needed.