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A lot of crypto investors will say the same thing. I'm referencing the dominance on CoinMarketCap's website but in reality there's a lot of dead projects with b
by tempsy 7y ago
A lot of crypto investors will say the same thing. I'm referencing the dominance on CoinMarketCap's website but in reality there's a lot of dead projects with basically no liquidity. CMC doesn't do anything special to filter those projects from the denominator, but if you identified those projects and removed them BTC would probably be at 75-80% or higher.
- lawn 7y agoA slight counterpoint that a lot of crypto investors will point out is that BTC's marketcap is artificially inflated by Tether. Tether has been printing a lot of coins (highly likely without backing) which has gone directly to buying BTC, pushing it higher than other coins trading against fiat. Marketcap is generally a pretty poor metric to use, as it can be gamed in various ways.
- andirk 7y agoCan you explain how Tether can print coins at will but still pay out $1 USD per 1 Tether? If one can cash out, doesn't that mean it's accurately pegged to the buck?