street

6 ms·

31.
by street 10y ago
> Market incentives exist for it not to crash. People who put money into ETH/DAO and who want to see growth have strong incentives against this type of bank run. That's where the pyramid/ponzi/bubble comparison comes
32.
by street 10y ago
The cryptocurrency holders can probably stay irrational for longer than I can stay solvent. I'll sit on the sidelines and watch.
33.
by street 10y ago
That's because of the tiny liquidity. Nowhere near $120 million was sold, and it still lost 50%. Now try selling tens of millions worth, and see what happens.
34.
by street 10y ago
Uh, that's not how volume works. For one, because you'd be adding to it. But also: much of that volume is buying and selling of the same ETH. I like your comparison to penny stocks.
35.
by street 10y ago
I just sold one of my hairs to myself for $10. Is my head now worth a million? With Apple, there's intrinsic value to consider. And frankly, if you sold enough Apple stock for it to go down 50%, I'd personally start buying. I doub
36.
by street 10y ago
The DAO isn't actually worth 120 million. For one, it's based on the price of ETH, which would completely crash if you attempted to sell even a few million worth. Secondly, everyone can withdraw their funds from the DAO before any
37.
by street 10y ago
And in fact, in many countries, the DAO actually is a legal company/association, just not officially incorporated. But incorporating is not required everywhere for the normal laws to apply. Just the fact that people put their money tog
38.
by street 10y ago
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39.
by street 10y ago
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