Quote from: psyclon on December 06, 2013, 07:28:03 PM

Quote from: zimmah on December 06, 2013, 06:27:58 PM

Quote from: SuperHakka on December 06, 2013, 05:47:58 PM

according to mt gox it only takes one market dump of 87,000 btc to take price back down to $50 yip yip

like anyone who has even 10,000 BTC would kill his own wealth by dumping.

if they panic in the face of losing a couple million, why wouldnt they? would you care if others are hurt if you can cash your 10 million dollars out today without the risk of losing all of it due to some Chinese regulation? Or would you hold on to it in the hope that one day it will be even more? I would dump. and then cash out in CNY.

this volatility is clearly not due to the regular investor, rather those with thousands of coins playing the market every day and making more and more.

He's talking about a market order, not converting into fiat in an attempt to preserve wealth (a limit order).

This would require literally throwing away millions with the intent of driving the price down.