> The value of most coins will go to zero.
By absolute number, sure, but if you count "most" by weighting them with trading volume, then no. Bitcoin and Ether will not go to zero.
By absolute number, sure, but if you count "most" by weighting them with trading volume, then no. Bitcoin and Ether will not go to zero.
That's crypto-speak for how to deny reality.
If the value of a USD dollar plummeted to $0.01, you don't pull out your wallet and say, "I have 100 of them, so no the value hasn't gone to almost nothing."
When crypto implodes, what are people going to drop their shitcoins for? I could see a few possible answers:
* They'll accept BTC or Ether because it's what they can easily get to in a pure-crypto market. If there's enough turmoil, major fiat offramps may be overburdened.
* They'll pile onto stablecoins (likely because exchanges present it a default way out, and sure, they'll exchange for dollars some day) running the risk of triggering further contagion to stablecoins themselves.
* They'll take fiat at increasingly terrible exchange rates just to get out of the dumpster fire.
No, what I mean is that anyone can make new coins in 5 minutes to commemorate their favorite meme. There's a very large number of these coins and almost all of them are already valued at zero. So now you can go around saying "most tokens value will drop to zero", which is factually true because they already are at zero, and never were worth much of anything, and nobody traded them. So what?
If you take a typical crypto hodler, most of the value in their portfolio is in tokens like Bitcoin or Ether, and very little value is in meowcatcoin or shibadibacoin. Bitcoin and Ether will not go to zero.
> The value of most coins will go to zero.
I think the obvious issue is no one is going trade their actual-money for it.
https://www.reddit.com/r/explainlikeimfive/comments/3hqxgs/e...