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Bitcoin alone is worth over 1T, so your statement that all of crypto is worth less than 1T is a bit silly. The goal posts keep moving for crypto...next year it'
by kirbypineapple 5y ago
Bitcoin alone is worth over 1T, so your statement that all of crypto is worth less than 1T is a bit silly. The goal posts keep moving for crypto...next year it'll be that crypto is worth less than 5T, etc.
I looked at the NYSE daily volumes...unless I'm reading them wrong, they did $800m USD worth of trades today. Coinbase did $5b USD worth of trades today. So if you compare a company that's almost 200 years olds volume against a 9 year old company, and find that the startup is doing more than 5 times the volume of the incumbent (with zero lock in, since clients are free to trade cryptos on any exchange), then I'd say your comparison is actually a ringing endorsement for Coinbase.
- knowaveragejoe 5y agoFWIW, I think that total of $800m is purely stock trades and not the sum total of money moving through NYSE. According to wikipedia they were moving $130bn in 2013. https://en.wikipedia.org/wiki/New_York_Stock_Exchange https://en.wikipedia.org/wiki/New_York_Stock_Exchange
- selectodude 5y agoYou are reading them wrong. The NYSE traded 971 million shares of stock today worth $51 billion. That's just the NYSE, too. ARCA and ICE are owned by them as well. https://www.nasdaqtrader.com/trader.aspx?id=FullVolumeSummary# https://www.nasdaqtrader.com/trader.aspx?id=FullVolumeSummar...
- deleted 5y ago[deleted]
- weird-eye-issue 5y ago"I looked at the NYSE daily volumes...unless I'm reading them wrong, they did $800m USD worth of trades today" You are orders of magnitude off here. If you really think the stock market is that small you probably shouldn't be here commenting about it