Typical FUD and FOMO. Do your own research and I always tell everyone: only invest what you can afford to lose! The market is seemingly adjusting and the first great casualty was the scamcoin bitconnect. I hope the people that lost money didn’t lose to much!
You do know what marketcap means right?
Yes, why?
Because you commented it’s a “BS concept”? Please elaborate?
Maybe read what he said, market cap is literally based off the last asking price of a currency if you pay way over market value for a coin your raising the market cap significantly but you would obviously need serious money to effect it over a period of time.
My quote was removed because of a naughty word in the explanation but in essence:
Well, I missed my chance to get some cheap eth because Aus banks suck donkey nads - took 2 days to get funds into the exchange so the boat sailed
Should have tried out that day-trading lark after all!
The mcap in the indexes are based on circulating supply. In the case of crypto “unsold” coins are burned or not yet mined. In your example mr Roth would be an instant billionaire by selling just one coin. Yet the other 999.999.999 coins are not in the open market. The mcap is exactly 1 x $ 1,-.My quote was removed because of a naughty word in the explanation but in essence:
- If I create RotchCoin with 1 billion supply
- And sell you 1 coin for $1
- I now have a 1 billion market cap for my coin, all off the princely investment of $1.
"BS", in other words.
Well, I missed my chance to get some cheap eth because Aus banks suck donkey nads - took 2 days to get funds into the exchange so the boat sailed
Dont Just count on the whales! It’s newcomers that will drive the price up. The volitality of the last weeks scared a lot away. Scams like bitconnect have left some with a big hole in their pocket and I have even read about horror stories in our national news. Also lot of FUD is preventing newcomers to invest in crypto, but greed and FOMO will eventually pull people back in and hopefully the majority of icos will prove they created a viable and well done product.
Tether is a cryptocurrency it has nothing to do with the us dollar other then to copy it's price, I can literally sell any coin I want for tether right now and then buy another with that tether I don't think it means much more then just being a stable priced crypto.
The whole purpose of USDT is to be 1:1 backed by USD. If they're printing USDT, but not adding the backing supply of USD then that's a big problem, no? Especially if that USDT is then being traded by exchanges for BTC with the sole purpose of getting USD out. I found this article useful, though there are several more that explain why this is a big problem.
If I read the article I linked correctly, it's not simply about market share, it's about the legal liability of holding USDT. It also mentions an injection as little as 25 million USDT is enough to manipulate BTC price on a given exchange. If this is correct, then certainly 100-200 million USDT being printed every day is huge. The way I interpret this is that if an exchange trades in both USD and USDT, it's suspicous as it's most likely insolvent already. If it's one of the two then you're good. Though I still don't understand quite well how an exchange would be impacted if they trade USDT only (and not USD).
Yes. If anyone has any assets on Bitfinex, I'd suggest moving them elsewhere. If you didn't do so already of course.
