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well, coinbase claims to have 73M verified accounts [1], so, quite a few? and anecdotally, yeah, seeing crypto go up has similar impact on me as seeing stocks
by wallacoloo 5y ago
well, coinbase claims to have 73M verified accounts [1], so, quite a few?
and anecdotally, yeah, seeing crypto go up has similar impact on me as seeing stocks go up: i feel more comfortable making larger purchases whenever my wealth goes up, doesn’t matter if crypto v.s. equity (if volatility impacts your comfort, then you just cash out your gains and soend those).
[1]: https://www.coinbase.com/about https://www.coinbase.com/about
- lifeisstillgood 5y agoYeah, but... There are only 21M BTC ever going to be mined, and at something like 20/40/60K (wild price fluctuations this year) all of those accounts cannot have "fuck you money" in them. It's probably a power law so most people holding BTC don't have even one coin. So ... it just feels like a sizeable but still very small minority.
- wallacoloo 5y agoi imagine most market holdings follow power laws. or is the stock market different in this way because of more widespread pensions/retirement accounts? either way, a $2T crypto market (i don't know where GP got $3T from: CoinMarketCap.com lists 2.2T) is substantially smaller than a $50T stock market. Governments can and have just straight up injected that demand equivalent in value to that $2T figure into markets in the past, so if we have a crash localized to crypto, it's not as though govts have no recourse.