[dhbanes]

You're off by an order of magnitude. 1,056 BTC is currently worth approximately $29m.

[nl]

Sorry, miscounted digits!

Fixed it.

[sdenton4]

But could you sell $30m of Bitcoin without tanking the price?

[dhbanes]

24 hour BTC-USD volume is > $15bn so yes.

[moonchrome]

Short selling and algo trading on exchanges would get counted towards that volume ?

With the exchange scams going around daily o wouldn't be surprised if that number is order of magnitude higher than the actual USD involved and in trading.

[nl]

This seems an odd comment.

Algorithmic trading is an should be counted. It's volume!

Shorts and other derivatives isn't because it's a different instrument.

It's true there could (and probably is) wash trading going as well as other forms of laundering. But that's still genuine volume.

[moonchrome]

If I use 1 million dollars to make 1000 trades in and out of btc in a day that's a billion dollars of volume but maybe a couple of million in market depth could make that stable to enable those trades and a couple mill more could crash it.

[nl]

Sure. As I mentioned:

> It's true there could (and probably is) wash trading going as well as other forms of laundering.

There's little evidence of large volumes of wash trading specifically on BTC though, and it's pretty easy to trace.

[nullc]

> But could you sell $30m of Bitcoin without tanking the price?

Yes, at the spot market you can usually move $30 million in a single trade with only a small slippage. Bitcoin is more liquid than most stocks.

[miracle2k]

Easily.

[senectus1]

assuming the lemmings don't panic :-P

[anonporridge]

The lemmings are all already dead for this cycle.

Only mountain goats remain, and they are comfortable with steep terrain, both up and down.

[therein]

Of course you can.