4 ms·

The word "wiped off" seems misleading, it's not like coins were lost or destroyed, the market value just changed based on demand/offer. Edit: Hum, not sure why

The word "wiped off" seems misleading, it's not like coins were lost or destroyed, the market value just changed based on demand/offer. Edit: Hum, not sure why the downvotes, is my understanding wrong?

lvs 5y ago
Wiped off its market cap denominated in US dollars. It didn't lose value if you measure its value against some other crypto assets. Everything is relative, but it's not surprising the USD is the root metric considering there isn't much of any real economy that produces anything or pays wages in crypto. Anyway, these articles are generally silly.
lordnacho 5y ago
I didn't downvote you, but your comment is the kind that gets downvoted. You're pointing out something that's true and besides the point. MSFT stock can decrease in value without any shares getting destroyed. The market value is in fact what people mean by "$X wiped off".
- didibus 5y ago
  Ok, I might not have been familiar with the use of the term. I thought in the context of crypto, where coins can actually be "wiped off", in that they can be destroyed and removed from the available pool, it was a little confusing to me. But if this is a common usage to mean a sudden drop in price then I take it back.
  - skinnymuch 5y ago
    General crypto news and talk is pretty lowest common denominator. I agree because of pointing cryptocurrency to null essentially and literally wiping it out, the phrase isn’t the best. But it’s still a common enough phrase. FYI. I know virtually nothing about cryptocurrencies.
cjsplat 5y ago
Not sure about the down votes either, but "wiped off" is a common phrase for this exact sort of thing. A search for "wiped off accounting" hits a pretty large number of pages, including : https://www.macmillandictionary.com/us/dictionary/american/wipe-off https://www.macmillandictionary.com/us/dictionary/american/w... "to reduce the value of something by a large amount" The dictionary URL implies that it may be US English, but searching for "wiped off accounting uk" shows it is common even in the Queen's English.

lvs 5y ago

Wiped off its market cap denominated in US dollars. It didn't lose value if you measure its value against some other crypto assets. Everything is relative, but it's not surprising the USD is the root metric considering there isn't much of any real economy that produces anything or pays wages in crypto. Anyway, these articles are generally silly.

lordnacho 5y ago

I didn't downvote you, but your comment is the kind that gets downvoted. You're pointing out something that's true and besides the point. MSFT stock can decrease in value without any shares getting destroyed. The market value is in fact what people mean by "$X wiped off".

didibus 5y ago
Ok, I might not have been familiar with the use of the term. I thought in the context of crypto, where coins can actually be "wiped off", in that they can be destroyed and removed from the available pool, it was a little confusing to me. But if this is a common usage to mean a sudden drop in price then I take it back.
- skinnymuch 5y ago
  General crypto news and talk is pretty lowest common denominator. I agree because of pointing cryptocurrency to null essentially and literally wiping it out, the phrase isn’t the best. But it’s still a common enough phrase. FYI. I know virtually nothing about cryptocurrencies.

cjsplat 5y ago

Not sure about the down votes either, but "wiped off" is a common phrase for this exact sort of thing. A search for "wiped off accounting" hits a pretty large number of pages, including : https://www.macmillandictionary.com/us/dictionary/american/wipe-off https://www.macmillandictionary.com/us/dictionary/american/w... "to reduce the value of something by a large amount" The dictionary URL implies that it may be US English, but searching for "wiped off accounting uk" shows it is common even in the Queen's English.