Re:Warning Signs About Another Giant Bitcoin Exchange
by jandrese on Wednesday November 22, 2017 @10:06AM
(#15757262)
For what its worth, if you tried to cash out $800k today I think it would take some time to clear. The paper value of Bitcoins is grossly inflated over the actual market cap. It's a natural reaction to the inherently deflationary nature of the currency, everybody wants to hold on to them because they're only going up! This restricts supply and causes the prices to go up even more. Unless you can buy goods and services (more than drugs and burritos) with Bitcoin directly the wealth is a fantasy.
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Re:Warning Signs About Another Giant Bitcoin Exchange
by drcode on Wednesday November 22, 2017 @10:25AM
(#15757443)
You can clear that much Bitcoin in five minutes with maybe 5% slippage, or in a day with close to 0% slippage.
Re:Warning Signs About Another Giant Bitcoin Exchange
by throwbtc711 on Wednesday November 22, 2017 @11:16AM
(#15757943)
I’ve never cleared that amount of money on an exchange. For ~1M and above you use OTC a brokers. You have brokers in the US that can transfer you $20M per day without impacting the market in the short term. That’s how big ICOs liquidate their crypto millions.