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It depends on the conditions of course, but if dry ice is kept in a closed container it will sublimate (change from solid to gas) at a rate of about 5-10lbs every 24 hours. 2. If you put dry ice in a bottle with water and close the lid it will expode in about 10-20 seconds. + 40 others found this useful.
Yes, but not by displacing it. But, by reducing solubility of oxygen in cold water. Dry ice is - 32C, so it will definitely reduce water temperature and consequently oxygen solubility. And, as mentioned in other answers, oxygen is already sparingly solubile, so it won't make Much of a difference. Views.