The German state of Saxonia still has over 10k #Bitcoin (given current fictional valuation almost 3 billion EUR) which were seized from an illegal video streaming platform (the course of Bitcoin was a lot lower back then).
They are contemplating selling them and this could actually be interesting just to make it obvious how little actual liquidity there is. Because they wouldn't exchange for other Shitcoins but for hard cash. Could get interesting.
@tante would love to hear an explanation from boosters why this is simultaneously both "sound money that the entire world should move to" and "not something you should just cash out of all at once, i mean c'mon be reasonable"
@jplebreton same as with stocks: you have a split of people wanting to buy below a certain price and people wanting to sell above a certain price. Whenever the two cross over, a deal is made.
If you buy or sell at any price that just means you accept whatever the other party is currently demanding/offering. If you sell a lot at once that means the price will go down, because you deplete the pool of people paying ridiculous money. If you space this out, hopefully, you only skim a little off the top and that doesn't change the price too dramatically at any given moment.
@jplebreton I should add that I am not saying this is sound money or that anyone should use this at all. Also @tante certainly does not think that and I would bet that almost nobody here thinks that.
I traded microcaps for a couple of years. I kept an inventory of 2-3 dozen stocks for diversification. Once the fund got large enough, and I was sinking 10k into buys, things got weird. With most micros, they're traded thinly enough that I was 'making the market'. My buy would significantly increase the price of the stock And one had to sell slowly, otherwise, same effect on the back end.
That's when I stopped trading in micros. That way led to investment danger, and I didn't want an inventory that was too large to manage.