Quote:
Originally Posted by Konda
|
"""volume""""....this includes crypto to crypto that is the bulk part of the volume...
I remember reading kraken had a 100.000$/day withdraw limit...
I am no expert on speculation but this thread on bitcointalk makes it sound like it is a big deal to cash out just 5million:
https://bitcointalk.org/index.php?topic=1960578.0
so my theory that cashing out 100million would seriously impact the ability of exchangers to do business is not so far fetched...
Quote:
Originally Posted by Konda
Also why would it bankrupt an exchanger, they are just facilitating the buys and sells, eg if someone wants to buy bitcoins for amount x the exchanger finds someone who wants to sell it for that amount. How could an exchanger ever go bankrupt, they just match buyers with sellers like a stock exchange... You have obviously no idea how this works.
|
sure I do I was an exchanger for egold...you see when nobody wants to buy but everybody wants to sell you go out of business...I remember egold being exchanged out to fiat for 50%-90% during the run
Quote:
Originally Posted by Konda
If more people want to sell than buy the price will go down, if more people want to buy than sell the price will go up. It's very simple.
|
exactly...this creates panic...panic creates runs...
Quote:
Originally Posted by Konda
And then you can say it's not backed up by 'real value' (like gold for a bank). The value of something is what is perceived, gold itself has no value either it's just a piece of 'metal', but the price and value is made by supply and demand.
|
you can not compare BTC to real money...real money is backed by governments and armies...BTC is not...this makes it inherently unstable and fragile...