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the effect of supply on demand does indeed require that buyers know something about the supply I mean, just think about it for a moment: how many bitcoins were
by ImPostingOnHN 4y ago
the effect of supply on demand does indeed require that buyers know something about the supply
I mean, just think about it for a moment: how many bitcoins were "lost" today? Was it 0 or 100,000? Perhaps it's -100,000, because somebody gained access to 100,000 that were previously lost.
If it doesn't make a difference, then the supply isn't affecting demand
If it DOES make a difference, then demand can't be affected, because nobody knows whether it was 0 or 100,000 or -100,000
- netheril96 4y agoThe effect of supply and demand on price come from people bidding on the free market, not from anyone on the market knowing the global supply and demand. If people have to know supply and demand to determine prices, how can free market work for thousands of years before the basic principle of economics is established?
- wallacoloo 4y agosay BTC rises from $30,000 to $300,000. two scenarios: 1. 10% of all BTC holders want to cash out. nobody lost their keys, so 2M BTC hit the “supply side” of the market. 2. 10% of all BTC holders want to cash out. half of them lost their keys, so only 1M BTC hit the supply side of the market. this is the way it makes a difference. in the latter scenario, BTC spot price would likely reach a higher value.