Post
Topic
Board Bitcoin Discussion
Re: The $1000 Bitcoin, yes it's worth at least that.
by
FreeMoney
on 16/05/2011, 19:25:52 UTC
the question is, why would a hoarder get 'scared'? at this point the hoarders are mostly people who mined EARLY -- ie: their investment isn't substantial in most cases.

I wouldn't say 'scared' is the right word - but what the poster you quoted meant was that there's ~3000 BTC worth of BIDs on MtGox at the moment, after which the price of a single bitcoin is... well, zero, unless someone makes more BIDs. 


MtGox doesn't display bids more than ~33% from the last trade. Bids go all the way down. There is also the possibility of large hidden orders. And there are the other markets (small) and individuals (unknown, but large imo)