Re: PANIC BUYING !!!!!!!

i think we should worry more about the fact that mark karpeles still holds like 400-500k btc. the bitfinex hackers can't dump all their coins at once without getting noticed. they have to mix and sell their coins in batches of 5-10btc per time. with such a pace the market won't feel it.

I'd say that the market would rather feel the lack of 120,000 bitcoins that got stolen at Bitfinex. In this way, if an exchange is hacked every month (okay, every other month), the price of remaining bitcoins would certainly hit the sky (and then the moon)...

And Bitcoin would become as rare as hens' teeth

getting coins off the market will definitely have a good impact on the price eventually, but well, these coins that are off the market right now, will at some point find their way back one way or the other. but then again, i am glad the reality is different.

But as we saw getting coins off the market does not have a good impact on the price if they have gone through hacking an online wallet.

You are not given to change the simple truth that price depends on the balance of supply and demand. If supply is diminished (for whatever reason) whereas demand remains the same, the price will necessarily rise. Indeed, hacks like that of Bitfinex influence negatively both supply and demand (people may start buying less and selling more having less faith and trust in Bitcoin)...

But you still can't escape the laws of market price determination