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How would it take down the entire ecosystem? Bitcoin alone has a $194B market cap. $450M is a drop in the bucket.
by enraged_camel 9y ago
How would it take down the entire ecosystem? Bitcoin alone has a $194B market cap. $450M is a drop in the bucket.
- mancerayder 9y agoKey words, last four days. What do you think has been happening the last few months with Tether creation?
- jboles 9y agoDo you think there really is $194B hard cash in the entire ecosystem? Or are you deriving that number from simply # of coins issued multiplied by last trade price?
- wcoenen 9y ago> How would it take down the entire ecosystem? Bitcoin alone has a $194B market cap. $450M is a drop in the bucket. I'm not sure you can compare those numbers like that. If somebody used $450M to buy bitcoin, the market cap would likely rise much much more than $450M. For example, if I look at the GDAX order book right now, I see that the bitcoin price could be pushed up $200 by buying less than $3M worth of bitcoin. That corresponds to increasing the market cap by $3.2 billion.
- ceejayoz 9y agoBitcoin's market cap is $194B in the same way Basecamp is a $100B company. https://m.signalvnoise.com/press-release-basecamp-valuation-tops-100-billion-after-bold-vc-investment-c221d8f86ad7 https://m.signalvnoise.com/press-release-basecamp-valuation-...
- goldenkey 9y agoYou may want to consider a better metric than market cap - https://news.ycombinator.com/item?id=16182896 https://news.ycombinator.com/item?id=16182896