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A comment on $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin. Parent comment
You might be misinterpreting market cap of coins.
Simple example:
- I create a new crypto called CRY
- I create 1 million CRY coins
- I have converted zero CRY coins to USD
- I sell 1 CRY coin for $1
- The market cap for all coins is now $1M
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You might be misinterpreting market cap of coins.
Simple example:
- I create a new crypto called CRY
- I create 1 million CRY coins
- I have converted zero CRY coins to USD
- I sell 1 CRY coin for $1
- The market cap for all coins is now $1M