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by dredmorbius
3222 days ago
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That's not the full story. It's that the trading market is sufficiently thin that even a few hundred units of freshly off-lease vehicles will crash the price. David Gerard makes a similar point of Bitcoin in Attach of the 50 Foot Blockhain -- that "market capitalisation" of crytpocurrencies is complete nonsense, due to market thinness. Rather, you want to look at total transaction volume. A large player can move the market significantly on a very small number of trades. Price, it turns out, is far more like pressure than volume. Punch a large hole in something, and it falls rapidly. Squeeze it to a small point, and you can keep it quite high, but on very small total quantity. |
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Or voltage, as we sorta worked out on G+ :-)