Quote from: Eastwind on October 06, 2014, 07:50:41 PM

Quote from: rpietila on October 06, 2014, 07:43:27 PM

My intention (along with some that the others have already interpreted), has been to elucidate the asymmetry between the impact needed for price going down and price going up.

Currently, to force the price down 10%, one needs to sell 39,000 XMR. About ~9 people have this amount if they sell it all. Needless to say, it is unlikely that the price would go down unless many of them combine to sell large parts of their holdings.

To keep the price from going down 10%, one needs to absorb the 39,000 XMR by selling 100 BTC. There are 10,000 people in the world with 100 BTC, and if fiat holders are taken into account, the number rises to high 100s of millions(!).

Therefore, any 1 out of 100s of millions can keep the price up (or make it go up, which is analoguous), but it takes concerted (in)action of several out of ~9 to make it go down.

Does this apply to any coin?

Yes.

What results, is a "spiky" price curve with high spikes and long valleys.