/biz/ - Business & Finance

[Anonymous No.18327045]

How is it determined this overly large set of internet code is worth $7000+? If everyone who held BTC wanted to cash out right now would that be possible? Would these exchanges be capable?

[Anonymous No.18327094]

>>18327045
We’re about to find out

[Anonymous No.18327112]

>>18327045
Pee pee poo poo hnnnnggg

[Anonymous No.18327135]

>>18327045
You don't understand how a market works?

[Anonymous No.18327157]

>>18327045
>Would these exchanges be capable?
an exchange facilitates sales between a buyer and a seller, acts as a middleman. BTC is worth whatever buyers wish to pay for it. If 'everyone' wished to cash out, and no-one wished to buy, it would be worth $0. The amount of buyers who are prepared to pay $7k is limited. The more sellers, the lower the price drops - BUT lower prices attract new buyers into the market. et-fucking-cetera

[Anonymous No.18327200]

>>18327094
DUDE WHAT?

[Anonymous No.18327226]

>>18327045
The same thing that would happen if everyone tried to take their cash out of the bank

[Anonymous No.18327235]

>>18327226
no lol
Bitcoin isn't designed to be fractional reserve

[Anonymous No.18327260]

>>18327094

This is the final wallet that those 50k bitcoin ended up in. Some is definitely doing and under the desk deal with an exchange


https://www.blockchain.com/btc/address/3FDWNdFxrJxXoF4hWXF4dkc1FFxsNyKAHh

[Anonymous No.18327278]

>>18327045
>If everyone who held BTC wanted to cash out right now would that be possible? Would these exchanges be capable?
no, there's not enough liquidity in all fiat pairs combines to absorb a 100k BTC dump
price would literally drop to triple digits

[Anonymous No.18327292]

>>18327235
No but exchanges buy and sell with Coins stored on their exchange

[Anonymous No.18327294]

>>18327045
>if everyone with a position in the stock market were to cash out right now, would that be possible?
no. not at the current valuation. first out gets cake, the rest get crumbs.

as for the latter question, I actually had an epiphany 4 hours ago.

"priced in" is not a meme. big finance is a machine designed to project where money will be in the future and arrive before the rest of the pack.

they didn't show up to crypto first because the valuation of a unit of value in a decentralized entity was so far out of their relm they couldn't understand how it could be valuable. those of us that have been in the game have a glimpse of what it could be, how holding a piece of an independent neutral entity capable of transferring value cheaply, quickly, and securely, while being universally accepted can have a intrinsic value incapable of being measured using current metrics.

now imagine an independent entity that provides 99.999% accurate data, cheaply, quickly, and securely, simply because it is designed to do so. an infrastructure designed to be the backbone of an automated economy. imagine how much that could be worth.

we are children playing with a force beyond our control

[Anonymous No.18327327]

>>18327294
>imagine an independent entity that provides 99.999% accurate data, cheaply, quickly, and securely, simply because it is designed to do so
Keep imagining because it doesn't yet actually exist.

[Anonymous No.18327363]

>>18327327
>Keep imagining because it doesn't yet actually exist.
isn't that the reason we're all here? to take a bet on the entity with the highest probability of achieving it?

[Anonymous No.18327376]

>>18327045
Microsoft didn't become worth billions because bill gates wrote some code, it became worth billions because millions of computers ran it.

[Anonymous No.18327406]

>>18327294
is this some link shit again

[Anonymous No.18327418]

>>18327292
>No but exchanges buy and sell with Coins stored on their exchange
>stored on their exchange
It's not like they're pulling extra bitcoin out of the ether and passing it around in place of the bitcoin they're storing.

[Anonymous No.18327456]

>>1>>18327418
They take out loans with YOUR coins as collateral. They go under and your coins disappear. You ever wonder how the USD pegged coins pop into existence with millions backing them?

[Anonymous No.18327514]

>>18327094

That's the US governments wallet

[Anonymous No.18328070]

>>18327456
>loans with YOUR coins as collateral
>an asset that's halved several times in the last three years
I can't find an example of an exchange other than BitMarket.eu shutting down over anything like that. All the other exchange bankruptcies I'm finding are from hacks, Chinese shenanigans, or just being scams in the first place.
Got any more examples?