Re:Newegg is now accepting Bitcoin
by logicallee on Tuesday July 01, 2014 @09:03AM
(#7970348)
Of course, that's the cost. But how much do you have to spend in bitcoins to drive the price up that much?
e.g. buying $800K worth of bitcoin in 15 minutes, so that you can increase the price of BTC and then buy $5M worth of goods NewEgg - would $800K in fifteen minutes press newegg's btc-denominated price well below wholesale on those same electronic goods? (including to cover what you overpaid for the btc to execute your position.)
e.g. buying $800K worth of bitcoin in 15 minutes, so that you can increase the price of BTC and then buy $5M worth of goods NewEgg - would $800K in fifteen minutes press newegg's btc-denominated price well below wholesale on those same electronic goods? (including to cover what you overpaid for the btc to execute your position.)