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A comment on Craig Wright ordered to hand over half of his alleged Bitcoin holdings.

Re:Craig Wright ordered to hand over half of his alleged Bit... by d33 on Wednesday August 28, 2019 @05:37AM (#20818190)
This is absurd on so many levels. For example, it's pretty obvious that Bitcoin cannot be valued based on its exchange price in such huge quantities - if any party decided to sell $5bn worth of BTC, the price would obviously go down dramatically at this point. What's the logic behind this order?
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Re:Craig Wright ordered to hand over half of his alleged Bit... by tom_mellior on Wednesday August 28, 2019 @06:06AM (#20818318)
The order talks of handing over Bitcoins. The dollar value was added by journalists to illustrate the amount in question.
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Re:Craig Wright ordered to hand over half of his alleged Bit... by 9nGQluzmnq3M on Wednesday August 28, 2019 @05:42AM (#20818216)
There are indeed many absurd things about this case, but that's not one of them: the value of anything will collapse if you try to sell a significant fraction of the world's total supply at once.
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Re:Craig Wright ordered to hand over half of his alleged Bit... by sk5t on Wednesday August 28, 2019 @07:33AM (#20818725)
"I'm sorry, your honor, the laws of supply and demand make it unpalatable to comply with the court's order."
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Re:Craig Wright ordered to hand over half of his alleged Bit... by 9nGQluzmnq3M on Wednesday August 28, 2019 @07:36AM (#20818741)
As noted elsewhere, the court is demanding that Wright hand over half the bitcoins, not $5B in USD.
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Re:Craig Wright ordered to hand over half of his alleged Bit... by sk5t on Wednesday August 28, 2019 @07:58AM (#20818871)
I agree, although this is not the point to which your original post, and my concurring post, respond. Had the court ordered liquidation--of bitcoin, hogs, apartment blocks, whatever--it seems unlikely that market volatility would stay the court's hand. (Again, we agree about this.)
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Re:Craig Wright ordered to hand over half of his alleged Bit... by rtkwe on Wednesday August 28, 2019 @09:28AM (#20819526)
They're not ordering him to hand over cash they're ordering him to hand over half the BTC. The cash amount is just there to illustrate just how much 'value' that many coins would have.
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Re:Craig Wright ordered to hand over half of his alleged Bit... by colonwqbang on Wednesday August 28, 2019 @06:08AM (#20818332)
Maybe I missed something, but I don't think there was anything in the order about selling any of the bitcoin.
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Re:Craig Wright ordered to hand over half of his alleged Bit... by throwamay1241 on Wednesday August 28, 2019 @05:42AM (#20818219)
I see you're new to Australian media reporting standards, or lack thereof =)
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Re:Craig Wright ordered to hand over half of his alleged Bit... by whyenot on Wednesday August 28, 2019 @09:21AM (#20819462)
The Guardian is a British newspaper, not Australian. Also, the trial took place in the United State.
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