I don’t get the point. Now, we cannot use the word “worth” anymore to describe anything that could hypothetically move the market down by a few percent when sold? With the usual ups and downs of Bitcoin, we will probably barely see it in the graphs…
It’s 0.4% of the market cap. It’s not like Satoshi with his 10% of the market cap came back…
no it just fails when you amass enough of something to affect its scarcity.
if we discovered the moon was made of solid gold the moon wouldn’t be worth the current gold spot price times it’s weight, instead gold would become worth much less.
You’ve missed the point. The point is that whatever you say about the word “worth” when it comes to bitcoin, then that same distinction would apply when you use the word to talk about USD too, and euros, and oil, and every other currency and commodity.
That’s literally the exact amount of USD you can exchange it for, so it is literally worth exactly that amount
Sell 8 billion dollars worth of anything, and you’re gonna have a hell of a lot less than 8 billion dollars.
Because you’ll flood the market, at that volume a potentially irreversible drop in price.
It’s basic economics, but you are defending crypto…
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I don’t get the point. Now, we cannot use the word “worth” anymore to describe anything that could hypothetically move the market down by a few percent when sold? With the usual ups and downs of Bitcoin, we will probably barely see it in the graphs…
It’s 0.4% of the market cap. It’s not like Satoshi with his 10% of the market cap came back…
That’s nonsense because then you’re just saying the word “worth” doesn’t mean anything when it comes to anything besides unique items
no it just fails when you amass enough of something to affect its scarcity.
if we discovered the moon was made of solid gold the moon wouldn’t be worth the current gold spot price times it’s weight, instead gold would become worth much less.
You’ve missed the point. The point is that whatever you say about the word “worth” when it comes to bitcoin, then that same distinction would apply when you use the word to talk about USD too, and euros, and oil, and every other currency and commodity.