3 ms·
You say: "Looking at bitcoin volume on coinmarketcap right now, it's about $9B 24h volume on a $71B market cap. In just 8 days the entire market cap of bitcoin
by hbosch 8y ago
You say:
"Looking at bitcoin volume on coinmarketcap right now, it's about $9B 24h volume on a $71B market cap. In just 8 days the entire market cap of bitcoin will have 'exchanged hands' (again, I know this is not exactly what volume means)."
And, from the deck in the article:
"Despite its widespread use, the CoinMarketCap.com data is wrong. It includes a large amount of fake and/or non-economic trading volume, thereby giving a fundamentally mistaken impression of the true size and nature of the bitcoin market."
(Emphasis mine)
- isoskeles 8y agoWhat exactly is your point? That I am repeating the point in a paywalled article? I have always thought the market data on cmc makes no sense, and am pointing out a simple experiment you personally can do to check.
- hbosch 8y agoI just am saying that basing any assumptions on the data from CoinMarketCap is to make those assumptions meaningless, because the data at CoinMarketCap is false. Apologies if I'm misreading your comment.