Re:If Winklevoss tried to cash out, they’d probably crash th...
by Idontrmbrlogin on Thursday December 21, 2017 @01:23PM
(#15981405)
This seems to be inaccurate. The twins could choose to simply sell the private key in a private transaction. Assuming they didn't create one wallet with 50,000 bitcoin, they could even sell portions. This gets them paid AND puts the onus for moving the coins to a new address on the new owner. They could exit in 5 minutes if another billionaire wanted their coins bad enough.
Re:If Winklevoss tried to cash out, they’d probably crash th...
by mac01021 on Thursday December 21, 2017 @01:41PM
(#15981566)
> simply sell the private key in a private transaction
Then why not sell it three times to three separate parties? And also keep a copy of the key and engage in some spending from the wallet themselves?
I'm not saying that these particular people would engage in such trickery. But I would be very wary of any proposition to sell me bitcoins in an out-of-band transaction of this kind.
Re:If Winklevoss tried to cash out, they’d probably crash th...
by whack on Thursday December 21, 2017 @02:49PM
(#15982196)
"Typical trading volumes across the major exchanges are only about $2 billion globally"
Sounds like they could just sell ~$20M everyday, which would account for only 1% of the daily trading volume. After ~50 days, they would have cashed out $1B.
Re:If Winklevoss tried to cash out, they’d probably crash th...
by ThrustVectoring on Thursday December 21, 2017 @03:47PM
(#15982592)
That depends on how much of the daily trading volume is wash trading. Bitfinex can just decide to give a couple accounts a pile of USDT on margin and self-trade to stir up a sense of FOMO and convince folks to buy in. It's pretty much free to do if you run the exchange.
Then why not sell it three times to three separate parties? And also keep a copy of the key and engage in some spending from the wallet themselves?
I'm not saying that these particular people would engage in such trickery. But I would be very wary of any proposition to sell me bitcoins in an out-of-band transaction of this kind.
Sounds like they could just sell ~$20M everyday, which would account for only 1% of the daily trading volume. After ~50 days, they would have cashed out $1B.
http://www.zdnet.com/article/bill-gates-stake-in-microsoft-i...