Re:Crypto crash deepens, stocks slip
by gruez on Wednesday May 19, 2021 @12:30PM
(#27210894)
That's like saying uber shares are infinite because you can start your own ridesharing startup and issue more shares.
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Re:Crypto crash deepens, stocks slip
by allendoerfer on Wednesday May 19, 2021 @12:55PM
(#27211289)
Except you cannot just start your own global ridesharing service, can you?
Can't you say the same for bitcoin? Anyone can make a bitcoin clone, just like anyone can code a ridesharing app in a hackathon, but your clone isn't going to be the one recognized by everyone.
But crypto clones are much easier to create and have adopted than a company with real infra. The phenomenon of “this coin is too expensive let’s buy this new one hoping it’ll moon” is very real in crypto and encourages the creation of clones. Then miners then trivially shift their hash power to whatever clone gets the crowd interested.
Re:Crypto crash deepens, stocks slip
by RestlessMind on Wednesday May 19, 2021 @02:21PM
(#27212408)
> But crypto clones are much easier to create
Agreed.
> and have adopted than a company with real infra
Disagreed. Cloning is super-easy, adoption is super-hard.