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How could something be worth 440 billion in market cap after a major correction not be valuable? This is after having a 14 year history of people learning abou
by dadoge 4y ago
How could something be worth 440 billion in market cap after a major correction not be valuable?
This is after having a 14 year history of people learning about it, not some scam coin like LUNA that went from zero to 40 billion and to zero in less than 1 year
- woodruffw 4y agoFor the simple reason that market corrections are not absolutes: the only thing that a correction down to 440B tells us is that it hasn’t been corrected down to 0 yet. It may never be, but that’s just to say that “it’s still valued” is not a good argument for “it’s correctly valued.”
- quonn 4y agoIf I take 80 Dollars from you and promise to return you 50, is this operation also worth 50 Dollars? If so, what‘s the meaning of „worth“? If I open a bank account and someone else deposits 1 billion there and I have a contract that obliges me to return the money in a year and I am not allowed to move it or use it as a security, is my bank account or the bank creating it „worth“ 1 billion? Whether bitcoin is worth something as a tool/currency cannot be measured well by the amount of money stored in it.