Post
Topic
Board Bitcoin Discussion
Re: Buy bitcoins on Nasdaq
by
vokain
on 03/07/2013, 20:57:10 UTC

Also known as how do you exit an illiquid market without destroying the price...

i have to agree.. this was my first thought when i saw the article too
a 200k sell on the current market would drive the price down but by doing it this way and creating demand from a new market if enough people bite it'll drive the price up just long enough for them to have turned all their BTC into cash

their 'company' will then be able to pay them wages/dividends and generally bleed down the value of BTC whilst only they benefit from it

it's a clever piece of latteral thinking, but not a good thing for a technology whose best outcome would be it stabalised into a currency

It's a chicken and egg problem. If not enough people buy into it, then they're back to where they've started it. If people buy the entire trust, then that means Bitcoin already succeeded, and they've succeeded. Your proposition doesn't work