Re:A Prediction: Bitcoin Is Doomed to Fail
by acchow on Wednesday November 27, 2013 @10:26PM
(#6812850)
You don't seem to grasp the basic concept of markets.
Issuing more buy orders cannot cause a drop in price.
In your scenario, you propose that large businesses around the world issue a practically limitless number of buy orders on BTC, supposedly at a low-balled price, supposedly inducing people to fulfill those orders...
You can't affect the price of anything buy flooding the market with an enormous number of low-balling buy orders. You can create a floor, but that puts a lower bound on how far bitcoins can call - it doesn't induce the fall.
Issuing more buy orders cannot cause a drop in price.
In your scenario, you propose that large businesses around the world issue a practically limitless number of buy orders on BTC, supposedly at a low-balled price, supposedly inducing people to fulfill those orders...
You can't affect the price of anything buy flooding the market with an enormous number of low-balling buy orders. You can create a floor, but that puts a lower bound on how far bitcoins can call - it doesn't induce the fall.