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"market cap" is a very bad representation of the overall value which is impossible to actually estimate. try selling 600 million worth of btc and see how that c

"market cap" is a very bad representation of the overall value which is impossible to actually estimate. try selling 600 million worth of btc and see how that cap changes.

cloakandswagger 9y ago
Dump large amounts of ANY asset and it will crash. It's only crypto that gets accused of having a "fake" market cap though.
- standupstandup 9y ago
  It's only crypto that uses the term "market cap" to mean "outstanding crypto-tokens * price". That isn't what the term means in conventional finance. It's normally applied to shares.
mrb 9y ago
5 BILLION dollars worth of bitcoins are sold every day. The trading volume is higher and the orderbooks are deeper than you think...
- ActsJuvenile 9y ago
  Google "Wash Trading"
  - mrb 9y ago
    Doesn't work in crypto markets. Taker fees are typically > 0.20%, with the notable exception of BitMex.
    - 55555 9y ago
      Those who are downvoting the parent, please explain why? He is correct. Is the assumption here that the exchanges themselves are wash trading and not charging themselves fees? Seems possible. But otherwise wash trading is very expensive due to the maker/taker fees.
    - joosters 9y ago
      There is plenty of evidence of wash trading occurring on Bitfinex and other exchanges - there are also many accusations that the exchanges themselves wash trade, to pump up their own volumes. They don't need to pay their own fees!
      - mrb 9y ago
        Taker fees are 0.1-0.2% on Bitfinex. Wash trading would be too expensive. Where is the evidence the exchange itself is doing it?
    - reefoctopus 9y ago
      Korean exchanges are 0 fee.
      - mrb 9y ago
        Koreans account only for ~7% of the 5 billion USD/day.
    - ActsJuvenile 9y ago
      Taker fees are significantly discounted for higher volume traders, because they bring smaller traders to an exchange. I know two mid-sized whales who have almost 0% rate as long as they trade certain number of BTC a month.
- amarkov 9y ago
  Where are you getting this number from?
  - mrb 9y ago
    24h trading volume: https://coinmarketcap.com/currencies/bitcoin/#markets https://coinmarketcap.com/currencies/bitcoin/#markets
    - amarkov 9y ago
      This includes a lot of crypto-crypto volume. Just in the top ten, there's $168m Bitcoin Gold, $145m of Bitcoin Cash, $95m of something called "PowerLedger" that I'm hearing of now for the first time, and $84m of Neo. Is this real trading activity, or is it people discovering that there's no feasible way to trade USD directly for the meme coin du jour?

"market cap" is a very bad representation of the overall value which is impossible to actually estimate. try selling 600 million worth of btc and see how that cap changes.

cloakandswagger 9y ago

Dump large amounts of ANY asset and it will crash. It's only crypto that gets accused of having a "fake" market cap though.

standupstandup 9y ago
It's only crypto that uses the term "market cap" to mean "outstanding crypto-tokens * price". That isn't what the term means in conventional finance. It's normally applied to shares.

mrb 9y ago

5 BILLION dollars worth of bitcoins are sold every day. The trading volume is higher and the orderbooks are deeper than you think...

ActsJuvenile 9y ago
Google "Wash Trading"
- mrb 9y ago
  Doesn't work in crypto markets. Taker fees are typically > 0.20%, with the notable exception of BitMex.
  - 55555 9y ago
    Those who are downvoting the parent, please explain why? He is correct. Is the assumption here that the exchanges themselves are wash trading and not charging themselves fees? Seems possible. But otherwise wash trading is very expensive due to the maker/taker fees.
  - joosters 9y ago
    There is plenty of evidence of wash trading occurring on Bitfinex and other exchanges - there are also many accusations that the exchanges themselves wash trade, to pump up their own volumes. They don't need to pay their own fees!
    - mrb 9y ago
      Taker fees are 0.1-0.2% on Bitfinex. Wash trading would be too expensive. Where is the evidence the exchange itself is doing it?
  - reefoctopus 9y ago
    Korean exchanges are 0 fee.
    - mrb 9y ago
      Koreans account only for ~7% of the 5 billion USD/day.
  - ActsJuvenile 9y ago
    Taker fees are significantly discounted for higher volume traders, because they bring smaller traders to an exchange. I know two mid-sized whales who have almost 0% rate as long as they trade certain number of BTC a month.
amarkov 9y ago
Where are you getting this number from?
- mrb 9y ago
  24h trading volume: https://coinmarketcap.com/currencies/bitcoin/#markets https://coinmarketcap.com/currencies/bitcoin/#markets
  - amarkov 9y ago
    This includes a lot of crypto-crypto volume. Just in the top ten, there's $168m Bitcoin Gold, $145m of Bitcoin Cash, $95m of something called "PowerLedger" that I'm hearing of now for the first time, and $84m of Neo. Is this real trading activity, or is it people discovering that there's no feasible way to trade USD directly for the meme coin du jour?