/biz/ - Business & Finance

>>6200891

My guy, I'm holding 60k xlm which is a great deal, but can you think logically with me for one second...

What even props up the ENTIRE crypto currency market? Oh I know, the fact that there are about as many exchanges you can actually cash out on as there are fingers on one of my hands. Not only that, its not like these exchanges process your ACH/wire transfers quickly and efficiently, IF THEY EVEN FUCKING DO AT ALL.

Coinbase and gemini for example can barely handle the volume of BTC/ETH to usd right now. What happens when shit gets real hairy? Just close down the exchanges.

All this does is keep the entire market fucking artificially propped up. Now this leads me to my main point, you don't ever wonder why none of the actual extremely wealthy investment groups or people have taken advantage of the profit of exchanges, coupled with the fact that the existing usd<->crypto exchanges are total and utter dog shit, and put up one of their own to rake in insane profit?

If they did, they would fucking tank the entire market. If cashing out was done with ease, speed, and efficiency, not only does that go against the entire principal of cryptocurrency (replacing fiat all while your hypocritically trying to sell your crypt profits for fiat) but it will cause a mass fucking dump and the market will go from 850bn to maybe 50bn.

If fairx is this magic bullet, which again as a holder I really don't think it will be, its not that easy, but if it is, then you can prepare for some massive fucking drops all across the board.