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This is comical. Anyone who tells you that currency was actually worth $300MM is out of their mind. This is an interesting experiment, but seems more like a pum
by calgaryeng 9y ago
This is comical. Anyone who tells you that currency was actually worth $300MM is out of their mind. This is an interesting experiment, but seems more like a pump-and-dump.
- DiNovi 9y agopump and dumps generally don't pump for multiple years.
- gciruelos 9y agoyes, but if you add up how much everyone paid for the lost eth it won't be $300MM but it will still be an insane amount of money.
- Bromskloss 9y agoWhat does "actually worth" mean? It's worth whatever someone currently is willing to pay for it, isn't it?
- sova 9y agoTrue value or Real Value are stabilized values in the market directly proportional to usefulness of the commodity or currency. If people wanted this much ETH, it would be worth that much, but saturating the market with that much more ETH would drive prices down. It's like the meteor that was made of Iron that swung by the earth "it's 5 quintillion dollars of iron ore!" well, with simple multiplication that may be so, but the assumption is that this material would be absorbed into an economy that can use it effectively. Nobody is actually going to hand you 5 quintillion dollars for the meteor.
- Bromskloss 9y ago> saturating the market with that much more ETH would drive prices down. Of course, like with any stock or commodity, the market price is the valuation of the good _for small amounts_ of the good.
- pwaivers 9y agoCan you expand on this?