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by barrkel
3084 days ago
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Zuckerberg's stock a bit different: the stock represents future income flows - they have real value - whereas cryptocurrency value is a function of confidence. Yes, the stock would go down on Zuckerberg selling, but that's because people would infer from it an estimate of a decline in future income flows. But the future income flows won't go away just because Zuckerberg sells; it's not just confidence putting a floor on the stock. |
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Fiat currencies, including somewhat non-intuitively shares, dollars and every currency (including most forms of gold I might add) ultimately depend on confidence.