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by beala
5546 days ago
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No, I think you're misunderstanding me. I'm not using the spot price. I'm using the values that people are actually selling for. If you put in a sell order with a minimum price of something like $0.60, the orders would go through immediately, and you'd get $5600 in your Mt. Gox account. Once again, you've failed to actually fact check your post. The daily volume of Mt. Gox is routinely 10,000-15,000. Yes, you would bring the price down about $0.10 in a matter of minutes and possibly trigger a sell off, but that wouldn't make a difference to you if you just wanted your $5600. EDIT:
Here's the actual spreadsheet if you'd like to double check my work: https://spreadsheets.google.com/ccc?key=0AomGTgVWFh3WdDAxQ01... Here's where I got the data on mygox: http://mtgox.com/trade/history |
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I'm really tired of bending over backwards to be nice to people on HN. A few threads of arrogant snark like this in the last 24 hours, and I'm really stretching thin on patience. Now I see what the long-term users are on about.