2: Wire $20M-$50M on various bitcoin exchanges and short it down to single digits and beyond in one go totally destroying confidence.
Currently there are around $15M in bids (lol) on all major exchanges combined and plenty of longs that can be completely margin called ($23M+ on bitfinex alone for example), it should be fairly easy.
Not only $20M-$50M is nothing for them if they are inclined in "killing" BTC, they would also make a very good profit on top of it.
yeah, if ever something like that were to occur, BTC would be finished for sure... Currently there are around $15M in bids (lol) on all major exchanges combined and plenty of longs that can be completely margin called ($23M+ on bitfinex alone for example), it should be fairly easy.
Not only $20M-$50M is nothing for them if they are inclined in "killing" BTC, they would also make a very good profit on top of it.
Inb4 "This Time is DifferentTM "
So you think that crashing from $0.06 to $0.01 in the early days (for just a few moments) when BTC was traded by a handful of people at mtgox with a few k of trading volume and crashing to say single digits now after having reached $1200 and having stayed in triple digit range for more than a year are pretty much the same thing?
Are you for real
Because yeah, if somebody uses $20M to short BTC to single digits in a few weeks/months and keeping it there for a decent amount of time, confidence is not killed. Bitcoin eventually recovers and everything is just fine.
Sure