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A comment on I'm the guy who bought 259684 BTC for under $3000 yesterday (2011). Parent comment

Re:I'm the guy who bought 259684 BTC for under $3000 yesterd... by floatingatoll on Thursday August 12, 2021 @12:32AM (#28151963)
The $12b described above is 120% of their BTC, then. To me, I view it as BTC that have no current USD representation in the ecosystem. They were transferred at a tiny USD per coin or something, so the total USD pressure was only $1000 and easily managed without any computer system realizing something big was happening.

So we have two major USD test datapoints: $1b (Tesla), $1000 (guy who bought 259864 BTC guy).

Swell. Let's add $12b to that list! It'll help understand what happens at 10^10 beyond Tesla's 10^9.

[ Parent | on HN ]
Re:I'm the guy who bought 259684 BTC for under $3000 yesterd... by omarhaneef on Thursday August 12, 2021 @10:45AM (#28156962)
It is 1200%, or 12x.

But the point is if you can unload $1B in a week or month without influencing the price, that sets a rate and you can drop $12B over 12 weeks or months or whatever the rate was.

[ Parent | on HN ]