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It may be some time until $100M of daily churn doesn't result in a 15% price swing. The market capitalization of BTC would need to increase considerably to acco
by ihsw2 9y ago
It may be some time until $100M of daily churn doesn't result in a 15% price swing. The market capitalization of BTC would need to increase considerably to accommodate such a scenario.
And it looks like we are quickly approaching such a scenario.
The rich (and super-rich) have a lot of resources to move markets and BTC is currently especially susceptible to this.
- davidmanescu 9y agoIndeed. I guess volatility like this isn't a dealbreaker for other asset types so it shouldn't be here. Just seems odd that we call it a "currency" when these things happen routinely.