Quote:
Originally Posted by crucifissio
There are 1600+ people with over 1000 BTC...with BTC@ 100k just one of these 1600+ could decide to cash out...at any given day...the exchangers ain't got a billion...what part do I not understand?
Oh and that's just that one wallet...imagine the rest of the cash out requests that day combined...
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the part you don't understand is that the exchangers are just facilitating the transactions between buyers and sellers - they don't have any money.
If I want to sell a bitcoin, i go and put it on the market for let's say $7000 right now. If somebody buys it - good. If not i need to lower my price until somebody does.
I cannot go to an exchange and tell them: here are 1000 bitcoin, give me $7 million. This is not how this works.