Quote from: Nedkt on June 09, 2017, 07:59:20 PM

Quote from: tyKiwanuka on June 09, 2017, 04:19:18 PM

Nobody knows what the price will be when it hits the exchanges, but with the the current trading prices probably around 250 Miota.

Yeah, 250 Miota is just insane when you think about it. You have, what, a few hundred people trading on slack and its now capped at close to $2B USD before it even hits an exchange just because of slack trading among a handful of people? Are people spending tens of millions of dollars on slack for trades? Doubt it. Just goes to show that "market cap" when it comes to cryptos is largely an imaginary number.

People complaining about the imaginary value of market cap of cryptos with fixed supply are pretty confused. Ofc market cap is just an index, as any other economic parameter, it was your fault in the first place if you gave it additional meaning, I bet you are not complaining about Apple or Google's true value compared to their virtual market cap, even though not all their shares are actually traded on exchanges.

The only valid argument against the significance of market cap is the one regarding inflationary cryptos like Ethereum, which is not the case here.

(Btw, it is over 5k people on Slack, not a few hundred)