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Market cap of Bitcoin is: 117.81 billion U.S. Market cap of Tether USDT: $9.16 billion Tether would account for 7.8% of all Bitcoin. Not sure if that would co
by thisisnico 6y ago
Market cap of Bitcoin is: 117.81 billion U.S.
Market cap of Tether USDT: $9.16 billion
Tether would account for 7.8% of all Bitcoin.
Not sure if that would count as being propped up. It's significant but not entirely propped up, there is a ton of real money in there too.
- mattmanser 6y agoDoesn't that make it much worse? Only a certain amount of the tether is real, making it a tiny chunk, that's propping up a small chunk, that's propping up the large chunk. If the tiny chunk goes, it all goes tumbling down?
- tossAfterUsing 6y agoexactly. stay far away from bitcoin.
- earthtolazlo 6y agoMarket cap != market liquidity If I create 100 billion FakeCoins and sell one to my grandmother for $10, suddenly FakeCoin has a 1 trillion dollar market cap. It doesn’t mean there’s anywhere near that much money actually in the market to support that valuation.
- tossAfterUsing 6y agothis is precisely right and why nobody should ever buy a bitcoin under any circumstance.
- blaser-waffle 6y agoI dunno, they're pretty useful for buying drugs and VPNs...
- noxer 6y ago>...there is a ton of real money in there too. There is zero money "in there" market cap for a non-backed currency is meaningless value. No amount of bitcoin buying will ever put money "into" anything. The money goes to whoever sells its just a trade.
- tossAfterUsing 6y agonobody should ever buy a bitcoin under any circumstance for exactly this reason
- noxer 6y agoNothing wrong with speculating with money you don't need. Disclaimer: I own cryptos however no Bitcoins.