You're ignoring the BTC income from selling chips and miners.
Just trying to stir some discussion in this thread
.Yes, hopefully, miners (chips) are finding buyers. Good funding for gen4 seems to be crucial - competition is announcing new solutions (though, rests to see if realistic). Time-frame for really successful gen4 deployment seems to be shortening.
There are also only ~5k BTC between $100 increments on the bid side at any given time. You wouldn't have to dump the whole purse to create a massive impact.
Why? If you're trying to push the price down, you'd get a whole hell of a lot of help from margin calls along the way. Imagine if the US Federal Reserve, now that its bought up all the MBS assets it wants, reestablished the market and pegged it to treasuries, allowed investors to speculate on the price, and then ended up anonymously bullying the bonds through wave after wave of margin calls...wouldn't be too different, as ASICMINER (acting as a presumably significant part of the network) literally performs the exact same money-printing function for what is currently an inflationary currency.