281–290 of 331 posts
Earlier quoted context omitted.
I would not hire anybody with a crypto startup on their resume.
Former newspaper exec probably: "I would never hire someone who started out writing a blog "
The issue with crypto is that reasonable use cases are early, and don’t attract attention except for niche communities. There’s a few big ones, for example, filecoin right now has created a commodity market for storage that is currently 10,000 cheaper than S3 in some instances. (See file.app for stats) But realistically, the interesting projects are very small and hard to find. However, scams and ponzi schemes, by th…
People always say the same thing when someone is critical of crypto. Its too early! I mean after all, we are only 13 years in. Or: there is a lot of bullshit but the interesting things are outside of your echo chamber. But then never link to such counter examples. At best people talk about filecoin, which does pass the bar of not being a literal scam, but still makes no sense from a product-market fit (storage has 3…
How long did it take for gold to become a store of value? I am guessing millenia.
The article (or, rather, the commentary in the link above on the article) talks about the fallacious notion of "market cap" in regards to cryptocurrencies. That is to say, e.g., multiplying the number of bitcoins in existence times the current market price is a silly metric because the entire market would never be able to cash-out at that maximum price. What I was wondering was: is there a better number? e.g., is the…
Earlier quoted context omitted.
A rational actor will exchange money for food rather than starve to death, regardless of whether the currency they are using is deflationary or not. Your argument is nonsense.
That rational actor doesn't need to be a human. In fact, the concept of rational actor makes more sense in the context of corporations. Now, imagine a corporation hoards a trillion dollars worth of a deflationary currency. Will it invest it back to the economy as eagerly as it would an inflationary currency?
The article (or, rather, the commentary in the link above on the article) talks about the fallacious notion of "market cap" in regards to cryptocurrencies. That is to say, e.g., multiplying the number of bitcoins in existence times the current market price is a silly metric because the entire market would never be able to cash-out at that maximum price. What I was wondering was: is there a better number? e.g., is the…
Overall, I enjoyed the analysis of the piece, but I disagree with their take on market cap. Amy Castor - "Yeah, market cap is a meaningless number. It assumes everyone bought at the current price and could cash out at the current price." We could just as easily apply that basic logic to any security. Amazon(AMZN) is ~3275 a share with a market cap of ~1.668T. That also assumes everyone could cash out at ~3275, but th…
What you care about is liquidity (can be roughly estimated from exchange data) and trade volume (much harder to estimate, in the face of endemic wash trading everywhere in crypto) - you care about movement of the asset and the movement of the money for it.
The article (or, rather, the commentary in the link above on the article) talks about the fallacious notion of "market cap" in regards to cryptocurrencies. That is to say, e.g., multiplying the number of bitcoins in existence times the current market price is a silly metric because the entire market would never be able to cash-out at that maximum price. What I was wondering was: is there a better number? e.g., is the…
I like e.g. '2% liquidity depth' measure along with market cap, to show how steep the iceberg is if you start selling
I gave the original NYT article a read when it was published and I have no idea how it could have been approved outside of the opinion section. Really shameful to present the obviously pro crypto piece as neutral or informational and I have only two explanations: - ancient editorial staff approved it because they really don't understand crypto or - there's some kind of market for front page real estate
https://web.archive.org/web/20220219172535/https://twitter.c...
Note that non-clownshoes financial outlets, e.g. Financial Times or Bloomberg, expressly forbid journalists from writing about an asset they hold, except under appropriate editorial supervision.
Roose's present article is best viewed as his appeal to his bosses to be allowed to become a hodler.
Quoting a 2017 book about how thinly traded bitcoin is? I appreciate the concept but it doesn't always feel like it rounds out the takes. (FTR, I appreciate it's thin enough to make market cap misleading, but up-to-date liquidity figures would be helpful if we're trying to criticize market cap)