Re: [2018-06-22] $17 Billion Deleted From Cryptocurrency Market in 24 Hours
$17 billion is a hell lot of money 
Meanwhile, I would like to know why ''deleted" was used a choice of word for the title. It makes it seem like someone went to a dedicated computer, pressed on the delete key and poof $17 Billion disappears!
Meanwhile, I would like to know why ''deleted" was used a choice of word for the title. It makes it seem like someone went to a dedicated computer, pressed on the delete key and poof $17 Billion disappears!I do wish market cap could be uninvented as a metric. It means nothing.
That 17 billion never existed. You could knock tens of millions off the market cap with sells that net the sellers a few thousand dollars.
But, but....marketcap comparison with GDP of countries, with listed value of companies like Amazon. Can't we do that anymore?
Pretty funny how $17 billion were "deleted" with a trading volume of 10 billion
Quote
On previous reports, CCN noted that the cryptocurrency market is still in a bear cycle and that it had only initiated a corrective rally, not a bull rally. In mid-June, the market seemed more stable than any other period throughout the past two months. But, the unforeseen hacking attack of Bithumb, South Koreas largest cryptocurrency exchange, terminated the corrective rally of the market and led major cryptocurrencies to a short-term decline.
Can we just stop with this Bithumb ?
Nobody cares anymore about those hacks, especially since it wasn't about bitcoin but ripple and it was two days before the drop.
It seems to me that such attempts to explain the situation retroactively have nothing to do with reality. I have not found a logical explanation for the fall in prices. It seems to me that only one explanation. Someone very influential with big money and opportunities is interested in reducing the price of bitcoin or Ethereum. I am generally concerned about the ease with which hackers break the exchange. Maybe there are no hackers?
And how is that a logical explanation? Somebody is doing...what? Dumping bitcoins after he has hoarded coins driving the price up?
Stop with the conspiracies, the price went up way to fast, 18 million $ were