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> so in essence $8,154,513,572 of new value was created from nothing with the split. No. The market depth of the various Bitcoin Cash markets is tiny. You coul
by runeks 9y ago
> so in essence $8,154,513,572 of new value was created from nothing with the split.
No. The market depth of the various Bitcoin Cash markets is tiny. You couldn’t offload even $10M without crashing the price close to zero.
Just because the highest bid is ~$500 doesn’t mean all 16 million Bitcoin Cash coins can be sold for ~$500, thus ~$500*16m hasn’t been created at all — only a tiny fraction of that.
- paulpauper 9y agoA common misconception is that coins must be sold on an exchange. If someone has a large amount they could sell it on a secondary market to a private buyer
- runeks 9y agoSure, if such a private buyer exists. Please put me in contact with the private buyer willing to pay ~$500 for the remaining 15,980,000 Bitcoin Cash coins that the markets of the public exchanges can’t handle. The public exchanges are a gauge of liquidity. A magic private buyer might exist, willing to buy everything you hold, but I see no evidence that one exists for Bitcoin Cash.
- raesene6 9y agoI don't doubt that if you tried to convert all BCH to Fiat it wouldn't fly, but surely a lot of people have made money by transferring BCH at one nominal value to other crypto currencies. Now it probably is all a shell game ultimately, but the longer it persists the more hopeful speculators will use fiat cash to buy into crypto currencies, letting crypto currency holders "cash out"...