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Replying to Avatar Rusty Russell

I hate price talk, but if you're going to do it, please understand that "market cap" is a very rough *ceiling* on current value.

It's neither the amount of money which has gone in, nor the amount of money which can come out.

So the order of magnitude is useful to compare against other assets. But abusing it in terms of profits and losses is a category error, and I assume done mainly because it's so easy to measure.

Grump over.

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ESE 2mo ago

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