Re:Why blockchain is not yet working (2018)
by selestify on Sunday February 14, 2021 @03:45PM
(#26136099)
To get recognition as the coin with the highest market cap, you’d need to have it actually traded on an exchange. How many people on the open market are going to buy your coin for $1 on an exchange? There you go, your coin is worthless and has a market cap of roughly zero as determine by the open market exchange.
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Re:Why blockchain is not yet working (2018)
by smartties on Sunday February 14, 2021 @06:14PM
(#26137217)
> How many people on the open market are going to buy your coin for $1 on an exchange?
Even if 1 client per year buy it (let's say my token purpose is to give to access to private content on my website), then my marketcap is still 10^32 $, because marketcap is just the number of supply x the last traded price of my coin.
And yes, we both agree, marketcap has 0 value. It was just to make a point that using the marketcap as argument makes no sense.
Re:Why blockchain is not yet working (2018)
by selestify on Sunday February 14, 2021 @11:39PM
(#26139168)
> Even if 1 client per year buy it
What about the people who try to sell it after buying it? If they have to sell it for 10^-32 $ before someone buys it then that immediately drops your market cap to just about nothing.
> And yes, we both agree, marketcap has 0 value
No, I just explained why marketcap correctly values your coin as absolutely worthless.