In fact, dozens of people invested $130 or less in Nxt a few months ago and now own the equivalent of 6000 BTC.
I have a hard time believing that it's actually possible for a dozen people to all cash out a total of 72000 BTC from that market.
I seriously doubt it is possible to cash out 50 BTC from that market, I saw that exchange
But some people may profit a little while it's still alive, sure.
In fact, dozens of people invested $130 or less in Nxt a few months ago and now own the equivalent of 6000 BTC.
I have a hard time believing that it's actually possible for a dozen people to all cash out a total of 72000 BTC from that market.
I seriously doubt it is possible to cash out 50 BTC from that market, I saw that exchange
But some people may profit a little while it's still alive, sure.
"Total Volume: 295815629.92 NXT (9005.4240 BTC)"
You can add ~20% for off-exchange trades, and the majority of that figure happened above 0.00001btc/nxt
total volume is not at all indicative of how much could be cashed out. even daily isn't close
but I agree, 50 may be too low of an estimate. but 50btc sale would move that market by an order of magnitude, you should see the order book for that.
We will see how deep this will dive - my guess is, quite deep.
Nice timing! Diving deep... deep into 900 territory now!
eventually some child of ameratsu with enough yen to turn the crank on the japanese court system will take a civil action against gox so brutal that all the bitcoin and all the goxbux will not suffice to put mr. karpeles back together again, and y'all will be wishing you had picked another venue.
How can I get a subjective ranking of the alternatives...
Here are my top 3 concerns
1. Trust
2. Trust
3. Trust
you forgot
4. Volume (top or about there exchange, so you can move large orders without moving market)
5. Volatility (gox is the top exchange by volatility, sometimes delta is twice as large as at the next)
and 6. Trust
Please tell me at what point you will accept that this thing is going to be much bigger much quicker than you thought it would be?
as was said multiple times back in 2011 I think - bitcoin should have started at $100,000 per coin. but then it would be crazily volatile (0-100k in seconds) from the start. so instead, it gradually grows to that point with milder swings. makes total sense.
Top post on /r/bitcoin is about cashing out. Despair phase starting to bottom out.
Alternate interpretation: Bitcoin adoption falling, bitcoin usage set back years.
Blame all those guys who dump 1k-5k coins each to break major support levels so they can have 5M USD after the next bubble (which I doubt will happen) instead of only 3M USD. Blame the guy who put up 2k coin walls when we got to 685 and walked the price down 5 USD at a time, so he could scoop up cheaper coins. They think they can stop shoving the market down and the price will pop back up; I doubt that, too, as users continue leaving the currency.
During the period when btc VALUE increased most rapidly, the exchange rate crashed and drove out users. Sad. A hell of an epitaph.
Yeah right because several speculators can kill bitcoin with their thoughtless actions, right
Such a fragile little bitcoin, completely devastated by half a year of price stability
In this article they state that 4/5 banks will be using blockchain tech (not bitcoin) in 2017. But if they have their own blockchain it'll be centralized and not have the "bitcoin network." Is it inevitable that they will turn to bitcoin in the end?
Who really cares? Horse renting companies will not be using gasoline engines, instead they will train horses to drink gasoline because it's hip and everybody does that. Will they turn and replace all their horses when they start to explode spontaneously? I really do not know, but I am sure by that time they will be completely irrelevant anyway