NomNom@feddit.uk to Technology@lemmy.worldEnglish · 2 days agoFrom millions of dollars to under a grand: The dramatic fall of the NFTenglish.elpais.comexternal-linkmessage-square215linkfedilinkarrow-up1582arrow-down118
arrow-up1564arrow-down1external-linkFrom millions of dollars to under a grand: The dramatic fall of the NFTenglish.elpais.comNomNom@feddit.uk to Technology@lemmy.worldEnglish · 2 days agomessage-square215linkfedilink
minus-squareℍ𝕂-𝟞𝟝@sopuli.xyzlinkfedilinkEnglisharrow-up1·11 hours agoYou misunderstand, if I own the GDP of a world power, what’s preventing me from buying a ton of Bitcoin and fucking with the supply that way? Crypto nowadays looks like a pump and dump free for all.
minus-squareMatty Roses@lemmy.todaylinkfedilinkEnglisharrow-up1·10 hours agoHow is buying the asset fucking with the supply? If you mean hoarding it, that’s pretty much all Bitcoin is good for.
minus-squareℍ𝕂-𝟞𝟝@sopuli.xyzlinkfedilinkEnglisharrow-up1·8 hours agoThe supply of an asset is the volume of that asset available for purchase. If I buy all of that, supply becomes zero.
You misunderstand, if I own the GDP of a world power, what’s preventing me from buying a ton of Bitcoin and fucking with the supply that way?
Crypto nowadays looks like a pump and dump free for all.
How is buying the asset fucking with the supply?
If you mean hoarding it, that’s pretty much all Bitcoin is good for.
The supply of an asset is the volume of that asset available for purchase.
If I buy all of that, supply becomes zero.