Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Even selling $1 Million worth bitcoins may trigger something -- people will think, is this the time to cash in on something totally worthless, created by hackers? That'd start a panic selling. Bitcoin is valuable in trading because people think they are valuable. In reality, it does not even exist. Where is "the coin"?
No it wouldn't, or else people would manipulate the price and short sell to make money.
No it wouldn't, or else people would manipulate the price and short sell to make money.
To some extent a whale can move the market in a very minor way ie sell a lot dip the price a bit and then buy back in cheaper and do it all over again, that said I don't think it's a signifcant concern and even a Million USD worth of Bitcoin is nothing, that's like 20 Bitcoins, look at the order book and you'll see way more volume than that.
One other interesting thing is there's a site I'll see if it can find it that shows how many wallets have how many Bitcoins, I believe off the top of my head there's only 2 wallets that have more than 100,000 Bitcoins, now that doesnt mean someoen can't own 200K across 3 or 4 wallets but none the less it's just kind of interesting to see.
There is a new phrase...”fear of cashing out” - FOCO.
FOCO is really nothing new. Checkout Bitcoin or crypto subreddits, everyone says I'm never selling. Don't try to sell at the peak and time the market, etc, etc, etc.
I actually think this is kind of silly. It's never bad to take profit if your in the green and its smart to take some cash and/or rebalance from time to time. This is actually one of my big criticisms of the crypto community is the cult like fervent refusal to sell and the belief everything can do nothing but go up
I have 100k to invest. Bitcoin went up 2000% this year. If I would have put all my money in bitcoin I would have $200,000,000. Seriously? I just can't comprehend that. I honestly wouldn't believe it until it was deposited in my bank account.
You would have $2 million and you would easily be able to afford a math class.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
