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It's a useless metric if no one is using it. It's a magical purely speculative number.
by illiarian 3y ago
It's a useless metric if no one is using it. It's a magical purely speculative number.
- jejeyyy77 3y agoMarket cap is by definition people using it. They’ve exchanged their money for it.
- illiarian 3y ago> Market cap is by definition people using it. You and I have very different dictionaries it seems > They’ve exchanged their money for it. A thousand people trading magical tokens they pretend cost trillions of dollars doesn't make it: a) worth trillions of dollars and b) any significant usage
- jejeyyy77 3y agoEh? The fact that people have exchanged trillions of “real” dollars for them means precisely that’s what they are worth lol.
- lottin 3y agoMarket cap is meaningless. Using market cap as a metric anyone can become the richest person in the world. See here: https://www.youtube.com/shorts/igENXZRECOs https://www.youtube.com/shorts/igENXZRECOs
- the_gastropod 3y agoThat is not how market cap works. I start a company: SquidSoft, LLC. I sell you equity: 0.000000001% of SquidSoft, LLC for $1. Bam, SquidSoft, LLC’s market cap is $1T even though only $1 has traded hands.
- agumonkey 3y agousing has many meanings here, and store of value was only one of them