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Cryptocurrency Is Now Worth More Than All U.S. Currency in Circulation
- api 5y agoFlagged for ultra misleading headline.
- birriel 5y agoBesides the difference between "worth" and "valuation", could you please elaborate?
- qeternity 5y agoA dollar is worth a dollar. So all the dollars are worth whatever that dollar amount is. It’s reflexive. Crypto is valued by market cap, which is very different. If you tried to even sell 10% of all crypto in the next day, the market would implode. Basically, liquidity is important.
- wmf 5y ago"circulation refers to just physical cash and coins" so it's not a useful metric. The supply of US dollars is vastly higher than crypto.
- birriel 5y agoI understand that, but the headline specifically states that the comparison was being made in relation to currency in circulation, so I was wondering what was "ultra misleading" about it.
- wmf 5y ago99% of people don't understand the difference between money supply and currency in circulation so they'll draw the wrong conclusion, and the right conclusion is boring. This article shouldn't even exist.
- okareaman 5y agoExcept the dollar is backed by the full faith and credit of the United States while most crypto lacks any kind of guarantee.
- gregjor 5y agoI think the metal in US coins is worth something, so even assuming paper currency is worthless the coins are worth more than all of the cryptocurrency, which is worth zero. Of course there’s always a greater fool who will pay something for a dogecoin, just like there’s always a greater fool who will pay 25 cents for a penny.