That would be nice too but I don't think such utility would raise the price of Steem much in this day and age of crypto where utility doesn't mean jack shit.
A 35 million usd sell can lead to a 20 billion change in marketcap.
What that means is that a moderately rich millionaire or a investment fund could literally moon steem in a second.
When that can happen nothing really means anything.
All you need is some good hype and luck.
Can you point me in the direction where I can read more about that assumption? I remember briefly hearing something about it a while back but I completely forgot the logic behind it.
That's why shitcoins like Tron have such a high valuation, I guess :D
The buy sell orders determine the overall mc. What would happen if someone wiped the whole buy order book? Hehe.
That could happen with steem pretty easily. How much steem is there on exchanges? Someone could come in and buy all the orders on all exchanges. What would happen is that the highest sell price would be the one that determines the overall market cap.
So we basically need a whale to buy up all the orders on the book and set us up for a 10 billion market cap. Hmm.... who could do such a thing for us? Maybe we should hire some fishy market maker companies to pull it off just so that we can unload our bags temporarily to buy the dip :D
That would be nice too but I don't think such utility would raise the price of Steem much in this day and age of crypto where utility doesn't mean jack shit.
A 35 million usd sell can lead to a 20 billion change in marketcap.
What that means is that a moderately rich millionaire or a investment fund could literally moon steem in a second.
When that can happen nothing really means anything.
All you need is some good hype and luck.
Posted using Partiko Android
Can you point me in the direction where I can read more about that assumption? I remember briefly hearing something about it a while back but I completely forgot the logic behind it.
That's why shitcoins like Tron have such a high valuation, I guess :D
The buy sell orders determine the overall mc. What would happen if someone wiped the whole buy order book? Hehe.
That could happen with steem pretty easily. How much steem is there on exchanges? Someone could come in and buy all the orders on all exchanges. What would happen is that the highest sell price would be the one that determines the overall market cap.
Posted using Partiko Android
So we basically need a whale to buy up all the orders on the book and set us up for a 10 billion market cap. Hmm.... who could do such a thing for us? Maybe we should hire some fishy market maker companies to pull it off just so that we can unload our bags temporarily to buy the dip :D
Haha. What do you do when everyone starts to sell. 😁
Posted using Partiko Android
Buy the bottom :D