76 sats \ 0 replies \ @grayruby 4 Mar \ on: China Panics bitcoin
Unrelated but part of the article. I enjoy laughing at the eth folks, including Zerohedge, who talk about the supply squeeze that will be caused by increased demand and the burn but totally forget about the 31M staked coins that are already sitting on large unrealized gains earning 3-4%. They speak as if it is a given that all these coins are held by eth true believers and couldn't possibly come back onto the market. I know they have mechanisms to prevent a mass exodus but as prices rise and these holders compare locking in 200-300% gains vs letting it ride for 3-4% I think a lot more supply comes back to market than most people think.