Re:Ripple co-founder fifth richest person in US, rivaling Zu...
by cryptoz on Sunday January 07, 2018 @07:57PM
(#16093858)
> but somebody thinks they deserve at capitalization of $10T USD
What? Where on earth did you get that? Because his girlfriend bought one for $10 from the story, you've now created the idea that she did the math, considers it a worthy investment and knows the full market cap? What if she just wanted $10 of entertainment for the evening by buying a silly coin and talking about it? That seems like a solid investment to me, much cheaper than a movie for example, and does not imply that she thinks the full value is worth $10T USD. She could easily be a rational investor who thinks no such thing.
A market composed of numerous entities trading large sums of money is a much better system to decide the price of something. One person making a single purchase for unknown reasons is not a "market".
What? Where on earth did you get that? Because his girlfriend bought one for $10 from the story, you've now created the idea that she did the math, considers it a worthy investment and knows the full market cap? What if she just wanted $10 of entertainment for the evening by buying a silly coin and talking about it? That seems like a solid investment to me, much cheaper than a movie for example, and does not imply that she thinks the full value is worth $10T USD. She could easily be a rational investor who thinks no such thing.
A market composed of numerous entities trading large sums of money is a much better system to decide the price of something. One person making a single purchase for unknown reasons is not a "market".