How does it work?

[Anonymous No.2436446]

what happens if someone appears with 10,000 BTC and wants to sell it?

will they make 20-30 million instantly?

[Anonymous No.2436466]

>>2436446
and why cant i buy 10 million xcoins that are 0.00001 USD and wait till they hit 0.00002 USD and then sell them all and make 1000??

[Anonymous No.2436509]

>>2436446

no because it doesn't go into a big machine that spits out 30 million in response, you can either sell to an exchange, who would probably have to take some special measure to do such a transaction assuming they have the capital or you'd have to use multiple exchanges, the fees being quite large.

Or you can offload it by selling it yourself through websites/meetups like localbitcoin.

[Anonymous No.2436537]

>>2436466

you can, you just can't sell them all at once since exchanges for altcoins work in a peer to peer manner, someone wants to have to buy the coins at said price.

In any case, what you just described is basically the altcoin market in a nutshell, buying a coin when it is low and selling it when it increases in price.

[Anonymous No.2436540]

this has probably been the most retarded question asked on /biz/

[Anonymous No.2436587]

>>2436540
You must be new here

[Anonymous No.2436917]

whales sell through private transactions. dumping on the exchange would cause the price to slip too much.

[Anonymous No.2437029]

>>2436917
>>2436509
You can easily dump 10000 BTC in any major exange and the price wouldn't move, so yes you get your 30 mm yellencoins in return instantly.

[Anonymous No.2437038]

>>2436446
google "the slaying of bearwhale"

basically someone put up 30.000 BTC for 300 USD each back in 2014, it got eaten through pretty fast, since demand was there.

if your alt coin has similar demand you can do the same with anything obivously