If all of the currently owned BTC were cashed in how much would be in the pot to share out?
If all of the currently owned BTC were cashed in how much would be in the pot to share out?
Just under 1TOriginally Posted by Montello
I don’t think so. Who’s holding the $1T ready to hand out ?
That was exactly the point here:
https://www.linkedin.com/pulse...-ga...tin-steinmann/
The price will collapse when everybody wants out. Lots of people who need to squeeze through a tiny little door on their way out. Won't be pretty.
Someone who lies about the little things will lie about the big things too.
If you already know all the answers, I’m not sure why you insist on asking the questions to be honest...
But as you’ve asked...
The price of anything will tumble as people cash out en mass - PMs / diamonds / stocks / commodities all included - you could argue they might not go to zero, and Bitcoin might - pays your money and takes your chances.
If you fancy some light reading on what happens when everyone wants to squeeze through the door at once:
https://en.m.wikipedia.org/wiki/Bankruptcy_of_Lehman_Brothers
Last edited by demonloop; 23rd April 2021 at 19:22.
It’s a genuine question, I’m guessing many coins are owned by miners and many have been purchased at much lower values so if you viewed Bitcoin as a closed system how much capital has actually been pumped in?
I got news: neither precious metals nor diamonds will go to zero.
In such a case it's incredibly helpful if your asset has intrinsic value or a government sponsor. Bitcoin has neither.
It also matters if many people are holding the asset as a leveraged short term speculation of higher prices.
Someone who lies about the little things will lie about the big things too.
Agreed Raffe, but I didn’t say the others would go to zero. Prices would tumble though and the nimble would win, and the tardy lose.
I still maintain Bitcoin has a way to go.
I’ll be happy to eat humble pie if this thread is still running and the day comes.
So do we have a view how much capital has been pumped into Bitcoin compared to the $1T market capitalisation?
I am not saying this is going to happen anytime soon. We have seen how long it takes for assets to deflate, especially when held by cults - just remember Hertz successfully raising capital while in chapter 11 and all shares were predictably worthless a year later.
My point is that there will be a trigger which will start the process of cryptos going to zero and I don't think it will be long until the top is in (of we haven't seen it already).
Someone who lies about the little things will lie about the big things too.
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