Hacker News Reader

It's not $1 billion. It's $1 billion worth of shitcoin. If the charity actually tried to liquidate this donation the token would be finished.

View on HN

Definitely, liquidation would trigger mass collapse of the coin prices, making the donation only useful prominently in the ETH form. News outlets ate this up, yet the liquidity issue of the transaction was not mentioned at all.

The terms "inflation" and "deflation" are used in the context of the amount of a currency in circulation, and in the wider financial context, they have little sensible meaning otherwise.

When talking about price, "increase" and "decrease" would be a more correct term, or in this case, "collapse".

Given the context, "collapse" would be more fitting for clarity. Cheers.

Does he still get to write it off?

As long as he can prove that was the market value at the time.

It is a good question.

Reply on news.ycombinator.com