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October 22, 2018, 05:20:01 PM |
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So can we not declare that the global market cap as such is not a sound indicator for what it is meant to define?
Ignoring the presence of tether there is still no way that's a genuine number, on a theoretical level when btc was forked for the first time, where did the money come from to back up btc cash, (still today at $7.7b cap, and $450m for btg)?
I guess in a sense the same would happen if everyone wanted to cash out from crypto as is the case with fiat.
Which leads to the pivotal part of the question, we are still in a very immature phase don't we agree? Why was it accepted without a second thought that a newly forked coin has xy market cap out of thin air? (okay that's greed and lack of regulation we know that but still).
I'm trying to approach this from the value of the tech point of view, and not from my wallet's perspective. It's really going to have to withstand a hell of a beating to get through these scammy times...
Thoughts?
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