I'm somewhat skeptical of this assumption that people will cash out their payouts (if they materialise - which I somewhat doubt). All these people who were so keen to invest in BTCST will suddenly give up on BTC altogether and cash out to fiat? That's a big assumption
Because some people would have only bought bitcoins because of Pirates offer??
No you know anyone like that. Pirate didn't con a bunch of bitcoin outsiders. Hell they (looking objectively from a distance) were more likely to see it as an super obvious ponzi. It was only the bitcoin enthusiast who thought somehow bitcoin could bend the laws of compounding interest.
My guess is the number of people who were complete outsiders to Bitcoin and bought solely to put coins into an obvious ponzi and will sell as soon as possible are a distinct minority.
Maybe it makes people feel better to think that but this was a "hometown" scam. The people scammed were the people right here in this forum long before Pirate started offering dumbass "wagers".
Yes but with those rates there is a high chance of seasoned forum members encouraging there peers to cash in. I'm not saying all BST and PPT will cash out (I won't be doing so with my merge [possible] return) but some will. Which could help further push down the weekends low and possibly helping a BIG (naming no name's) trader??