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A comment on Winklevoss twins become first Bitcoin billionaires. Parent comment

Re:Winklevoss twins become first Bitcoin billionaires by MBCook on Sunday December 03, 2017 @01:09AM (#15836227)
Right, but there is a fundamental value to Amazon. The stocking never go to zero dollars just because of Bezos selling because the company is clearly worth more than that.

If the Winklevoss twins tried to sell just 1% of their stake, $10 million, what would happen to the price of bitcoin? Would they have $990 million of bitcoin left?

I’m guessing it would be a hell of a lot less. I think it would cause a panic.

I’m not going to say would go to zero, but I’m willing to bet it would drop a TON more than Amazon stock would if Bezos sold 1%.

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Re:Winklevoss twins become first Bitcoin billionaires by bestnameever on Sunday December 03, 2017 @03:40AM (#15836665)
USD trade volume for bitcoin has been around 2 to 11 trillion in the last month.

https://coinmarketcap.com/currencies/bitcoin/historical-data...

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Re:Winklevoss twins become first Bitcoin billionaires by sowbug on Sunday December 03, 2017 @01:21AM (#15836265)
Not much would happen if recent history is a guide. One day in mid-September 2017, $4.2 billion of Bitcoin changed hands, and the price that day went up about 5%. That volume followed a rumor that China was cracking down on cryptocurrency exchanges.

I can't say I spend much time watching the tape, but I have seen >100-BTC trades on GDAX in the past, and at current prices your what-if scenario involves a sale of about 909 BTC.

https://www.cryptocoinsnews.com/11-billion-24-hour-cryptocur...

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Re:Winklevoss twins become first Bitcoin billionaires by weddpros on Sunday December 03, 2017 @04:52AM (#15836851)
according to the depth chart on GDAX, you could sell 10M$ in BTC and the price would dip by.... les than 300$ to 10850$.

100M$ in BTC would send the price in the 7000s

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