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I don't think they're severely underestimating it. Look at the market capitalisation of cryptocurrencies, and how much is being invested into new blockchain-bas

I don't think they're severely underestimating it. Look at the market capitalisation of cryptocurrencies, and how much is being invested into new blockchain-based applications, via venture capital and token sales.

spookthesunset 9y ago
Do you people just come here to shill bitcoin? This stuff reads like some MLM brochure. Market cap in the crypto space is a joke. It is super easy to manipulate and poeple (like you) fall for it.
- CryptoPunk 9y ago
  First of all, a market cap of $300 billion could not be spoofed. The trading volume is enormous, and far beyond what any conspiracy of price pumpers could fabricate, and there is plenty of anecdotal evidence of significant fiat investments being made into cryptocurrency all the time. Second, me saying people are not underestimating it is not an endorsement of it as an investment. If I were endorsing it, I would say the opposite; that people are underestimating it.
  - hueving 9y ago
    >First of all, a market cap of $300 billion could not be spoofed. Market cap number is irrelevant to whether or not it is spoofed. That's just the current trading price * the outstanding coins. If 99% of the people holding the coins do not trade, that means 1% is manipulating the price.
    - Moodles 9y ago
      Hah yeah. Extreme example: I make 1 gazillion "Moodle-coin". I sell you one for 1$. Oh snap, Moodle-coin is now worth a gazillion USD.
    - CryptoPunk 9y ago
      The trading volume is what determines how plausible it is that the market cap is spoofed. It's literally the second line in my comment: >The trading volume is enormous, and far beyond what any conspiracy of price pumpers could fabricate .. You can't spoof a market price at the volumes that the major cryptocurrencies trade at. I mentioned the market cap because it is generally associated with trading volume, so gives you an idea of how much the asset is being traded.
      - hueving 9y ago
        Trading volume can easily be faked in unregulated exchanges. These exchanges aren't exactly trying to ensure people aren't trading out of multiple accounts against themselves. Look at the entire USDT fiasco for an example.
        CryptoPunk 9y ago
        Trading volume across a diverse range of exchanges cannot be easily faked. Large exchanges with institutional investors, like Coinbase, are not going to fake their volume. >>These exchanges aren't exactly trying to ensure people aren't trading out of multiple accounts against themselves. Many of them verify ID and don't allow people to have multiple accounts. Also, people pay fees on every trade. All of this volume being a conspiracy by people, working on a dozen exchanges, and willing to pay millions in fees to each exchange just to pump up its volume, is highly unrealistic. It's not how conspiracies work. There needs to be a way to enforce a pact for a pact to be successful. No such method exists for the thousands of traders across the world.

spookthesunset 9y ago

Do you people just come here to shill bitcoin? This stuff reads like some MLM brochure. Market cap in the crypto space is a joke. It is super easy to manipulate and poeple (like you) fall for it.

CryptoPunk 9y ago
First of all, a market cap of $300 billion could not be spoofed. The trading volume is enormous, and far beyond what any conspiracy of price pumpers could fabricate, and there is plenty of anecdotal evidence of significant fiat investments being made into cryptocurrency all the time. Second, me saying people are not underestimating it is not an endorsement of it as an investment. If I were endorsing it, I would say the opposite; that people are underestimating it.
- hueving 9y ago
  >First of all, a market cap of $300 billion could not be spoofed. Market cap number is irrelevant to whether or not it is spoofed. That's just the current trading price * the outstanding coins. If 99% of the people holding the coins do not trade, that means 1% is manipulating the price.
  - Moodles 9y ago
    Hah yeah. Extreme example: I make 1 gazillion "Moodle-coin". I sell you one for 1$. Oh snap, Moodle-coin is now worth a gazillion USD.
  - CryptoPunk 9y ago
    The trading volume is what determines how plausible it is that the market cap is spoofed. It's literally the second line in my comment: >The trading volume is enormous, and far beyond what any conspiracy of price pumpers could fabricate .. You can't spoof a market price at the volumes that the major cryptocurrencies trade at. I mentioned the market cap because it is generally associated with trading volume, so gives you an idea of how much the asset is being traded.
    - hueving 9y ago
      Trading volume can easily be faked in unregulated exchanges. These exchanges aren't exactly trying to ensure people aren't trading out of multiple accounts against themselves. Look at the entire USDT fiasco for an example.
      - CryptoPunk 9y ago
        Trading volume across a diverse range of exchanges cannot be easily faked. Large exchanges with institutional investors, like Coinbase, are not going to fake their volume. >>These exchanges aren't exactly trying to ensure people aren't trading out of multiple accounts against themselves. Many of them verify ID and don't allow people to have multiple accounts. Also, people pay fees on every trade. All of this volume being a conspiracy by people, working on a dozen exchanges, and willing to pay millions in fees to each exchange just to pump up its volume, is highly unrealistic. It's not how conspiracies work. There needs to be a way to enforce a pact for a pact to be successful. No such method exists for the thousands of traders across the world.