The bug which lost more than $600M in various cryptocurrencies a few hours ago

Re:The bug which lost more than $600M in various cryptocurre... by crypt1d on Thursday August 12, 2021 @06:56AM (#28154656)

Yeah I can understand that. Once you dive into crypto however, you quickly realize that $600m is just not that much money (especially not if we are talking about digital assets valued at current ticker price). And that lots of money isn't necessarily the right measure of quality of the project.

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Re:The bug which lost more than $600M in various cryptocurre... by christkv on Thursday August 12, 2021 @07:08AM (#28154769)

It’s valued at 600 million that does not mean it can be liquidated for 600 million.

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Re:The bug which lost more than $600M in various cryptocurre... by smaryjerry on Thursday August 12, 2021 @10:33AM (#28156832)

That is literally what that means. Market caps are what they are because everyone who thinks it is worth less has sold and everyone who thinks it’s worth that or more will buy. There’s some outliers but in general these coins are trading their entire market cap over the course of maybe a month or less. Liquid generally means short term, if you can sell it for cash in under a year then it is liquid. Sure if you tried to sell all coin today in the same minute you won’t find a buyer but over a month this happens all the time.

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Re:The bug which lost more than $600M in various cryptocurre... by fny on Thursday August 12, 2021 @07:05AM (#28154737)

Lol, even 1% of $600M is $6M. That's a lot of money. You'd have to have garbage liquidity to only get back 1%.

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