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A comment on Filecoin Suspends ICO After Raising $186M in One Hour. Parent comment

Re:Filecoin Suspends ICO After Raising $186M in One Hour by drieddust on Friday August 11, 2017 @09:58AM (#14989691)
>An extremely small fraction of the inflated value of these coins is actually part of - interacting with - the global economy. Most of it is not and will never be liquid.

I am not sure how you arrived at this conclusion? As more money will move into these currencies, won't it create an impact when eventual crash arrives.

> The dotcom bubble implosion wiped out trillions in moderately liquid value (the US stock market as one example being radically more liquid than the coin market overall), a sum that makes the crypo-coin bubble look hilariously trivial (even if you inflate it up to $500 billion), the global economy kept trucking regardless; US GDP has expanded by ~80% since the year 2000.

Don't you think mania has just started? It took a few years for dotcom bubble to reach its bursting stage.

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Re:Filecoin Suspends ICO After Raising $186M in One Hour by tome on Friday August 11, 2017 @11:17AM (#14990502)
Money doesn't "move into these currencies". Someone has USD, someone has BTC. They swap. That's it.
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Re:Filecoin Suspends ICO After Raising $186M in One Hour by tome on Friday August 11, 2017 @12:02PM (#14991114)
Or maybe you mean that too much productive capital is being wasted mining these coins? If so, maybe you're right. I'm not sure that has much to do with a crash that would affect the global economy though.
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Re:Filecoin Suspends ICO After Raising $186M in One Hour by pessimizer on Friday August 11, 2017 @05:39PM (#14994545)
You're not saying anything that couldn't be said about houses in the US Midwest.
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Re:Filecoin Suspends ICO After Raising $186M in One Hour by tome on Saturday August 12, 2017 @04:38AM (#14997067)
> You're not saying anything that couldn't be said about houses in the US Midwest.

So?

The reason it was problematic for people to pour money into housing was that loans (often loans of around 100%) were secured on these assets. No one is currently securing loans on Bitcoin holdings. If they start to, that will be a problem, but I don't see banks ever securing loans on something so volatile.

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Re:Filecoin Suspends ICO After Raising $186M in One Hour by woobar on Friday August 11, 2017 @10:52AM (#14990220)
Serious question: how much money is moving into these currencies already?

Bitcoin market cap was $9.4B a year ago, now it is at $58.3B. Average daily trade volume is ~$1B over the last few months. I guess trade volume just reported in USD, but includes all bitcoin transactions.

Is there a way to estimate how much money from 'global economy' actually moved into bitcoin and other currencies?

Edit: typo

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