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Author Topic: And if somebody bought 1 million gold coins?  (Read 2310 times)

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Offline KardoseR

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And if somebody bought 1 million gold coins?
« on: November 24, 2013, 12:28:20 PM »
And if somebody bought 1 million gold coins?

What would happen to gld coin price?

i know that this is not the best question but everybody have to start somewhere lulz

Offline Alty

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Re: And if somebody bought 1 million gold coins?
« Reply #1 on: November 24, 2013, 12:50:57 PM »
The market is extremely volatile, we saw that today with the price spike.

So if you put in an order on Cryptsy and you kept upping your bid price you could effectively bring Goldcoin up by 5 to 10 times it's existing level.

This would be very costly however.

Offline MicroGuy

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Re: And if somebody bought 1 million gold coins?
« Reply #2 on: November 24, 2013, 12:56:04 PM »
And if somebody bought 1 million gold coins?

What would happen to gld coin price?

i know that this is not the best question but everybody have to start somewhere lulz

It would depend on the window of time. There are many people now with the goal of accumulating 1 million goldcoins. What they do is buy a little at a time over an extended period which does not drastically affect price.

However if someone tried to buy 1 million on the market all at once it would spike the price and then the price would come back some but probably to a point moderately higher than it was before his buy order. Of course this is assuming there isn't a massive sell wall(s) at the time of this order.
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Offline KardoseR

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Re: And if somebody bought 1 million gold coins?
« Reply #3 on: November 24, 2013, 01:23:33 PM »
How much time does it take to a transaction be reflected in my wallet?

lets say i buy 1k coins  (13$)

in how much time i will have it displayed in my wallet?

And if i would sell it to the marketplace then how much time to it reflect on my bank account or paypal etc...

Offline MicroGuy

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Re: And if somebody bought 1 million gold coins?
« Reply #4 on: November 24, 2013, 01:34:43 PM »
How much time does it take to a transaction be reflected in my wallet?

lets say i buy 1k coins  (13$)

in how much time i will have it displayed in my wallet?

And if i would sell it to the marketplace then how much time to it reflect on my bank account or paypal etc...

The transaction will appear in your wallet usually within 2 minutes.

Currently there aren't any exchanges that facilitate direct GLD > USD transactions. Once those services do become available it will vary depending on the policies and protocols of the particular service used.
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Offline KardoseR

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Re: And if somebody bought 1 million gold coins?
« Reply #5 on: November 24, 2013, 05:00:59 PM »
so we can USD > GLD?

if yes where i can buy them?

Offline akumaburn

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Re: And if somebody bought 1 million gold coins?
« Reply #6 on: November 24, 2013, 05:03:53 PM »
so we can USD > GLD?

if yes where i can buy them?

Unfortunately no, as that would require a money transmitter's license and we are not yet listed on an exchange with such a license. (We plan on being on one very soon though)

What you can do is USD > BTC > GLD

or vice-versa GLD > BTC > USD

on http://cryptsy.com or http://coinex.pw
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