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Especially considering market cap is a totally made up number and if everybody tried to get out at once they would get a fraction of a fraction of it. (1) But
by genericacct 6y ago
Especially considering market cap is a totally made up number and if everybody tried to get out at once they would get a fraction of a fraction of it. (1) But it's pointless to tell this to a cryptofreak because they're so heavily invested in it they make zealots look reasonable.
(1) not to mention the fact that as soon as there is volatility exchange sites go down, even the bigger ones.
- RurouniK 6y agoWait until you find out what happens when people try to take out their money all at once from banks... I remember back in the day when people used to call early internet users internetfreaks and zealots. Now it's the same with Bitcoin. Whatever...
- janoc 6y agoYes, we all remember well what happened e.g. with Mt Gox. Not sure what your point here is - as if panic and runs on the banks were somehow magically prevented by crypto.
- AngrySkillzz 6y agoAnd the hilarious part is, we actually have regulations like capital requirements and FDIC insurance and central bank lenders-of-last-resort to prevent bank runs? Whereas crypto has... none of that? And unaudited Tether pumping >$1B into the crypto ecosystem every week
- seibelj 6y agoIf everyone tried to get out of any asset at once the price would tank. That’s how markets work.