Investment & Investing

You are reading a single comment by @sohi and its replies. Click here to read the full conversation.

•

NotThamesWater in reply to @thegreatbelow

To expand on what others have written.

The money has already been spent, when the whatevercoin / digital asset was purchased.

Imagine starting from scratch. I make a single shitcoin, I sell it to you for 100,000 national central bank backed currency units. It then is discovered to be worthless (for whatever reason, nobody wants any of it) - you're left with nothing, I'm left with 100,000 CU.

For every BTC that drops to zero, there will be a balancing $100,000 in someone's bank account (except for the coins mined and held by the miners).

•

sohi in reply to @NotThamesWater

But not everybody holding bitcoin paid the current price so the money lost would be a lot less.

•

NotThamesWater in reply to @sohi

I am grossly oversimplifying things and ignoring increases in price.

Take the above example. The shitcoin price goes to 1 million. The market cap is now 2,000,000.

The price then drops to zero.

I'm still up 100,000, they are down 100,000.

About

Avatar for sohi @sohi started