Topic: New Day in Crypto Land - 90% of USA exchanges dead - Now Bitcoin reverts to Sato (Read 173 times)

total capitalisation is a MEANINGLESS number

i can create an altcoin today. and have 5 trillion coin premine
sell just ONE single coin on a public market for just $1. and boom i have created a capitalisation of $5trillion

all for the cost of a candy bar
forget caring about capitalisation numbers. they are backed by nothing.
its a meaningless calculation of all units of medium of exchange multiplied by the current price of their market price. which the market price is not a valuation of the hoard.

market price is just a moving price of sentiment of small orders of single amounts moving by the whims

market price has no linkage to coins of circulation. and the coins in circulation have no relationship to any fiat reserves held or backing the market prices of cryptocurrencies

...
i personally have large hoards of bitocin for many years. more so then many readys on this forum. but i dont value my hoard dependant on the market price or a % of some total market cap

my value of bitcoin is based on other things that are more important to valuations. and i am happy with the value line and the market price amount above the value

this years VALUE (non zero bottom the planet refuses to sell bitcoin below) is ~$15k. no one this year has or can acquire bitcoin for less than $15k

the market price is speculatively wiggling in price above this value. and right now yes its brushing close to that value line. but thats a good thing. great time to buy bitcoin while its at a good value cheap price for the year to buy

future years will see the value line raise. and respectively the market price above that raise too.

these social drama events of business failures, help show how supported thiese underlying value lines are.. if they dont crash or if markets stay above certain levels. it proves the point.

this weeks drama has not seen prices drop 50% like MYGox 2014 days of the $400-$200

its seen prices stay in the same region as the last 3 months.. bar a small hold down.... but even so prices are still above the $15k line

so im not concerned with the social drama of businesses failing an d causing sentiment fears. i definitely dont care about "total capitalisation" numbers

NADA about shit-coins, about total capitalization $3Trillion USD

Of which say ETH was 20%, and BTC was 50%, the other 30% be shitcoins by defn

Now that ?? BTC Cap is now down from 1.5 T to $300M and dropping like a rock

Most of the FUCKING GOD DAMN exchanges have more shibu-ino than ETH why is that? Cuz anybody can pull shibu-inu out of their arse and post it as an asset

ITS ALL GOING DOWN BITCHES

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The scammers by defn will leave once there is no dead meat laying on the roadside to scavenge, for +10 years the US-GOV, media, and et-al have pushed, hyped and lionized crypto, the secret now is that there is no easy money left to fleece, majority of USA public is flat-ass broke;

Sure maybe a few of you asshole can fleece Nigerians, good luck with that;

The entire point is that pre-exchange BTC traded for less than $100 USD, the exchanges created the boost to $3k, and then the active trading with 100x leverage boosted the price to $60k, but now that bubble is popped, and nobody on earth that doesn't want to go to jail is going to host this SHIT going forward

Let's remember in CHINA, if you rob, they just kill you, and in Singapore you go to prison for a long time, only in USA can you hire a hot lawyer and rob people and stay out of prison, and note its only the USA exchanges that are going down, ... cuz in most of the world the bankman-ponzi MOFU's would just have gotten their throat slit on day one of the scam.

Total market capitalization is defined based on tens of thousands of shitcoins not based on which exchange get hacked and which one didn't. Their hack also doesn't really have significant effect on the dumping process of those shitcoins.

Are you high?
The scammers and pump and dumpers are not going to give up the shitcion market just because of FTX shenanigans.

Well this was bound to happen, except binance almost all stable coins are kaput, and everybody ( exchange house )  that had FTX in their accounts is dead, which is most exchanges;

Certainly no doubt that Bankman-Ponzi was allowed to do this in order to destroy crypto, well at least in USA, the rest of the world will be fine;

Exchange are bullshit, it allowed crypto to go to $3 Trilllion USD capitalization, now say it goes back to $300M or even $30M so what, if your true and just sit on your cold keys with no intention to sell, so fucking what?

Certainly the 10x leveraged trade game and the tokens that enabled the bullshit, but letting trading houses pull tokens out of their ass and call them assets and sell them to clients for real money, ... all is now kaput;

So what 99% of the money in CRYPTO is soon to be gone, but 1% of $3 Trlllion USD is still $3 Billion USD plenty of value to cover the ins&outs of real people who want to take 'banking' off the grid

So long live the real dream of satoshi.