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RE: Cryptocurrency: Freedom Go Up

in LeoFinance3 months ago

I thought about the number go up -freedom go up correlation for a while now. That YT video really summed it up perfectly.

We may have an issue regardless. If number keeps going up and everyone makes money but at some point we realize that our digital assets may be overpriced and the market starts rationalizing, won't that push people away from the technology?

I'm talking about bizarre scenarios where someone will figure out that Cardano can't be actually worth any money because it has no dapps so it crashes to a few cents per token.

Can't this situation be used by JP Morgan and friends to utilize the I told you so strat and introduce their own centralized solution? This would make people think they are using blockchain but they would just be interacting with a centralized database similar to BSC.

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My instinct wants to downvote you, but I'll let this one pass.
The question to me is, is your dirty stinking dollar worth my cardano?

And is the Market a Bubble, hmm, is there any market that ain't a Bubble?
Talking about WallStreet, if 10% of all the Shares of any Company are sold into the market at once (same hour), you will probably see the price crash more than 50%, it will be a bloodbath for that corporation. A lot of crypto assets are more resilient than that. So who's in the real Bubble?

I didn't intend to offend anyone, Cardano just came to mind first so I used it as an example. Never said such an event could and would happen.

Talking about WallStreet, if 10% of all the Shares of any Company are sold into the market at once (same hour), you will probably see the price crash more than 50%, it will be a bloodbath for that corporation.

And what would happen if someone sold 10% of all Bitcoin in existence? Or 10% of the total supply of Cardano for that matter?

There is no doubt that everything is in a bubble but expecting the crypto market to be more liquid than tradfi markets is a far stretch IMO. Just look at what happened on Binance US today.

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And that was just one large sale. Imagine panic mode on a large scale...

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Looks rather like one large fake news bar, am I right?

It was one large sale that filled the whole order book all the way down to $8k per BTC. Just goes to show how deep BTC liquidity really is.

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But only on Binance right? How convenient for them, I bet a lot of people have been long with high leverages.

I would say that the idea of limitation is going to wane.

How you framed it makes sense, based upon our view of what is taking place. However, consider the fact that we are now entering a realm where there is near abundance. With the digital world, the limitations that exist in the physical no longer exist.

Take data for example. It keeps growing at an exponential rate, doubling every 12 months according to some estimates. Yet, it is still extremely valuable.

So when you mention what can flow through blockchains, just think of the volume that can be on all of them. Quite frankly, right now, there is nowhere near enough bandwidth.

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