3 ms·
The market cap figure is meaningless precisely because of the lack of liquidity. You could make your own bitcoin clone, put it up for trade at some unknown exch
by pakitan 9y ago
The market cap figure is meaningless precisely because of the lack of liquidity. You could make your own bitcoin clone, put it up for trade at some unknown exchange for $1000 and claim that you have a $17B "successful fork".
- bhaak 9y agoMarket cap is a somewhat flawed metric, I agree, and it should not be looked at in isolation. The daily volume tells you that Bitcoin Cash is traded (or maybe dumped?) quite a bit. It's volume is about that of LTC currently which really is not too shaby. Don't forget that Bitcoin Cash was an as friendly fork as possible. I don't think anybody realistically expected that it would overtake Bitcoin right away. I'm not even sure if the initiators expect it to overtake Bitcoin at all. In a slightly conspiracy theoristic view, it might just have been a rehearsal for if the 2X part of Segwit2X doesn't happen and a hostile takeover might be tried. Cryptocurrencies don't easily die and so far, Bitcoin Cash is doing okay. Calling it a failure at this point is premature.