Still, $17mil > $1mil
Even with turnover those coins will be eaten up by people making profit and buying more to trade with.
Even with turnover those coins will be eaten up by people making profit and buying more to trade with.
Profit from thin air? People who are making profit with trading do not create new money in the system. (why do i even need to say that?)
Traders matter nothing - zero do they matter. What matters: miners draw money out of the system and new money does not come in as fast as miners draw it out. So here you got something to wrap your head around.
I understand what you're saying. But that doesn't mean those traders aren't putting more money into the system as they continue to trade, based on what you're saying we should still be going down everyday, and we haven't been recently. My initial response was meaning that the 3600 coins a day is a drop in the bucket to the amount traded every day. The downward pressure has not been because of miners but because of shorters, large sellers, etc.. Saying traders don't matter isn't correct. We've seen a shit ton of shorting and profit taking the last few months, you can't say that hasn't been one of the more bigger aspects to the price. Shorting in a bear market is pretty profitable, and shorters will continue to do so until their shorts are squeezed. Why am I having to say this? (Lol :p)
