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Anyone who doesn’t like crypto doesn’t have to play with it. It’s a tiny blip of nothing in size when compared to actual markets, and the “crime” that exists in
by seibelj 4y ago
Anyone who doesn’t like crypto doesn’t have to play with it. It’s a tiny blip of nothing in size when compared to actual markets, and the “crime” that exists in crypto is nothing compared to what large banks facilitate for drug kingpins and oligarchs every single day.
Let this weird parallel financial system develop for another decade and see what comes out of it. Might actually solve some problems.
- mgaunard 4y agoIt's not a tiny blip, it's already bigger than European equities...
- BozeWolf 4y agoNot sure what numbers you compared, but quick research on market cap [1,2]: European market cap 2019: 8,078,748,800,000 (8 trn) Coinmarketcap today: 1,583,350,504,806 (1 trn) Not a tiny blip. Compared to world equity 2021 [3]: 117 trn I would call it a small blip. 1: https://tradingeconomics.com/european-union/market-capitalization-of-listed-companies-current-us$-wb-data.html https://tradingeconomics.com/european-union/market-capitaliz... 2: https://coinmarketcap.com/ https://coinmarketcap.com/ 3: https://www.sifma.org/resources/research/research-quarterly-equities/ https://www.sifma.org/resources/research/research-quarterly-...
- righttoolforjob 4y agoExcept that is mostly printed money. You can't take the crypto market cap seriously. If a significant portion of it tries to get converted from "magic internet money" to real money the price will plummet.
- kuished 4y agoYou realise that applies to “real money” too right?
- rvba 4y agoStock has some intrinsic value though. When we talk about Europe - the stockmarket is not so inflated: mostly boring companoes doing boring stuff -> that brings a lot of cash flow.
- righttoolforjob 4y agoWhat do you mean? When converting real money to...?
- usednet 4y agoYeah. Furthermore, I don’t know how CMC calculates their total but if it uses fully diluted market cap, the crypto total would be even less by a large amount.
- mgaunard 4y agoI meant volumes traded. European equities are 50 billion per day, crypto is 100.
- xmcqdpt2 4y agoA lot of it is wash trading though and a lot of the market cap is paper gains too. I still think it should be regulated and we would be better without the crypto market, but I doubt a crypto crash would have much of an impact on the economy in general.
- mgaunard 4y agoIt's quite unlikely that more than half the trades would be wash trading. It's very liquid because it's much more accessible to non-professionals. Giving retail flow direct access is where the revolution lies.