If you had 1 million FC, how would you sell them ASAP
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But if you look at coins like Infinity Coins, there must be a lot of people holding onto millions of coins, “if” it went up to $1, a lot of people I guess would cash in the coins for USD, can people really cash in vast amount of coins?
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If the market was flooded with millions upon millions of coins, I could imagine the currency would drop in price… Overabundance would eventual be the coins demise. Even if they started off at $1000 a piece, everyone with extra-ordinary amounts of coin would be forced to undercut each other. Very quickly the market would catch on and people would stop buying forcing even more under cutting and competition to off load…
Like I said. Damaging the crypto scene as a whole. Maybe a few coins would survive but it would only be the one’s that have a limited supply. This in turn would create yet more volatility.
I’m no economist but I think this scenario would not turn out well. Especially if a large group had millions of coins worth over a dollar or more each.
If a singular person had a million coin worth $1000 a piece, then it might play out differently but the end game would be the same. Either a flooded market leading to a complete distrust, or a system similar to the one in place currently.
The best outcome would be to have many types of coins equally divided amongst everyone on the planet. But considering only a fraction have access to buying said coins, I couldn’t see this happening.
To be perfectly blunt (and I know many if not most will disagree with this ideal) I see crypto’s as a means to an end where we live in a world without currency. Period.
But that’s a very unpopular scenario. Most would not and could not ever believe it to work.
[me=Calem]steps of the soapbox.[/me]
[size=8pt]oh god what have I said…[/size]
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24,962,650 FTC
BTC-e Sell Orders Total: 2,963,738.67 FTC
BTC-e Buy Orders Total: 4217.13 BTC (5,229,080 FTC at current price) -
[quote name=“Tuck Fheman” post=“39127” timestamp=“1386086721”]
24,962,650 FTCBTC-e Sell Orders Total: 2,963,738.67 FTC
BTC-e Buy Orders Total: 4217.13 BTC (5,229,080 FTC at current price)
[/quote]Could you translate that for me?
I’m not sure I follow what your trying to say.
Is the total buy orders a sum of all crypto’s on btc-e converted to their current price in Bitcoin?
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I think ChekaZ still offer some vine ;)
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[quote name=“Tuck Fheman” post=“39127” timestamp=“1386086721”]
24,962,650 FTCBTC-e Sell Orders Total: 2,963,738.67 FTC
BTC-e Buy Orders Total: 4217.13 BTC (5,229,080 FTC at current price)
[/quote]BUT all the buy orders are not set at the current price.
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[quote name=“Stevenrm87” post=“39151” timestamp=“1386090898”]
[quote author=Tuck Fheman link=topic=5311.msg39127#msg39127 date=1386086721]
24,962,650 FTCBTC-e Sell Orders Total: 2,963,738.67 FTC
BTC-e Buy Orders Total: 4217.13 BTC (5,229,080 FTC at current price)
[/quote]BUT all the buy orders are not set at the current price.
[/quote][quote] If you had 1 million FC, how would you sell them ASAP[/quote]
When did price come into the equation? There are more than 5M FTC wanting to be purchased that I can dump 1M FTC into. If we’re worried about profit, that’s a different story and we need to know if the FTC were mined from day one or what the purchase price was and on and on. I’m simply showing that you can easily dump 1M FTC.
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[quote name=“T4rQu1N” post=“39107” timestamp=“1386082829”]
Personally, I would get rid of 1M FTC at the Oxford Blue with a Christmas party :D
[/quote]That would be a hell of a party, can I come ;)
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A Christmas party is totally an amazing idea. Just stream it live on video.
I’m willing to throw in some FTC if I get to see a tipsy ChrisJ dancing to Thriller at some point.
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[quote name=“mnstrcck” post=“39258” timestamp=“1386109719”]
A Christmas party is totally an amazing idea. Just stream it live on video.I’m willing to throw in some FTC if I get to see a tipsy ChrisJ dancing to Thriller at some point.
[/quote]Last time I tried to dance someone called an ambulance… never again :-[
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If I had 1M FTC I would get seriously paranoid and start printing out paper wallets inside a [url=https://en.wikipedia.org/wiki/Faraday_cage]Faraday Cage[/url]. I’d then start a fake media campaign on how all my private keys had been destroyed in some tragic boating accident and hire some heavies and move to some country that is really nice to rich people from overseas.
Then in a few years I’d give it all away to the poor and deserving in multi signature wallets so they could only spend it if they could form enough consensus within their group.
The end.
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[quote name=“mnstrcck” post=“39258” timestamp=“1386109719”]
A Christmas party is totally an amazing idea. Just stream it live on video.I’m willing to throw in some FTC if I get to see a tipsy ChrisJ dancing to Thriller at some point.
[/quote]damnit, havent even unpacked my suitcase yet…
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Just asking for a friend, huh? Yeah, I remember having to buy condoms ‘for a friend’ as a teenager…
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[quote name=“svennand” post=“39285” timestamp=“1386112273”]
[quote author=mnstrcck link=topic=5311.msg39258#msg39258 date=1386109719]
A Christmas party is totally an amazing idea. Just stream it live on video.I’m willing to throw in some FTC if I get to see a tipsy ChrisJ dancing to Thriller at some point.
[/quote]damnit, havent even unpacked my suitcase yet…
[/quote]LOL
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sell everyone 1 FTC.
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Give 25% to Feathercoin developers, 25% for Feathercoin marketing purposes, 25% to kickstart interesting projects connected to Feathercoin, and sell the remaining 25% at higher profit than dumping it all at once.
And, oh yes, keep in mind that dumping 25% first, and funding the developers later, etc, may not lead to optimal results!!! :) -
[quote name=“mnstrcck” post=“39258” timestamp=“1386109719”]
A Christmas party is totally an amazing idea. Just stream it live on video.I’m willing to throw in some FTC if I get to see a tipsy ChrisJ dancing to Thriller at some point.
[/quote]Bugger, I’m from Kent, and would totally travel to oxford if there was a party lol, but I’m stuck in sunny California right now.
