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A comment on More than $70B wiped off crypto market in 24 hours as BTC drops 8% below $20K. Parent comment

Re:More than $70B wiped off crypto market in 24 hours as BTC... by FollowingTheDao on Friday March 10, 2023 @07:49AM (#35093710)
> Because stocks are based on an underlying real company producing real services and goods

No, they are not. Stocks prices are solely based on their supply and demand in the market. Products and services may play a role in the demand fro the stock, but they are not the sole determinate of price. Take AMC for example...

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Re:More than $70B wiped off crypto market in 24 hours as BTC... by wyatt_dolores on Friday March 10, 2023 @08:46AM (#35094246)
Stocks do have a natural lower bound which is the actual value of the company.
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Re:More than $70B wiped off crypto market in 24 hours as BTC... by FollowingTheDao on Friday March 10, 2023 @10:35AM (#35095680)
Are you saying Bitcoin can go negative?
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Re:More than $70B wiped off crypto market in 24 hours as BTC... by chollida1 on Friday March 10, 2023 @10:55AM (#35095983)
it's possible if the carrying cost of BTC is positive.
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Re:More than $70B wiped off crypto market in 24 hours as BTC... by medvezhenok on Friday March 10, 2023 @12:09PM (#35097362)
The total stock of a company, yes. Your particular share - not necessarily. You could get diluted to pretty much nothing if the company chooses to issue more shares.

Shareholders can usually push back via voting, but depending on the way the company is setup they could still successfully dilute smaller shareholders.

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Re:More than $70B wiped off crypto market in 24 hours as BTC... by senttoschool on Friday March 10, 2023 @08:50AM (#35094280)
Stock prices are based on supply and demand.

But a stock is the ownership of a company, which produces goods and services.

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