Well, 5% is
NOT a
drop in the ocean....you remind me of my students who think that 5% of a grade is NOTHING, when it is exactly what it is, 5%.
For fun, there are approximately 2.664X10^25 drops in the ocean (
https://www.quora.com/How-many-drops-of-water-make-up-the-sea) while ETFs volume is 5 "drops" in a 100 "drops" (about 5ml or about a teaspoon).
For a supposedly "numbers guy" you threw these comparisons around with a bit too much ease, but don't take it as a criticism..I understand what you meant, emotionally, but let's stick to numbers, OK? Peace.
Seriously?! It's a phrase that means "insignificant" as opposed to literally
a drop in an ocean, which would be miniscual, quite obviously as it's a metaphor that's not meant
literally. Maybe this is a British phrase or something? Can't believe I feel the need to have to do this for something so trivial, but here are dictionary definitions of the phrase for you (spoiler; it has nothing to do 2.664X10^25 drops):
If you say that something is a drop in the ocean, you mean that it is a very small amount which is unimportant compared to the cost of other things or is so small that it has very little effect on something.
an amount that is so small that it does not make an important difference or have much effect
So yes, when we are talking about 5% of volume, I consider it a very small amount. Others may just consider it a small amount, but I'd consider it very small. To me it's the equivalent of a strong wind when driving down the highway/motorway at 70mph/110kmh
(en/us context). It's not enough to take you of course 99% of the time, as it's only about 5% of the force in play, but it does mean you have to adjust for it; that analogy you're welcome to take literally. My point was more to whoever said that Bitcoin had "become TradFi". Whereas actually it's 95% not TradFi, and won't be, until ETF volume is at least 51%.
If i had a "drop in the ocean" 5% of all bitcoins or even 5% of today's $ flow from just ETFs or bitcoin, it would not be something insignificant:
5% of all bitcoin flow today was $ 3.6 bil (before, now it is an even higher number of ~7%)
Gee, man, for myself, those numbers are significant.
I am not even sure what is the point of this non-quantitative conversation....maybe i just don't want to call something that has some value to be called insignificant.