Stranded on a deserted island trading a png of a monkey back and forth the get the world's highest GDP.
The wealthiest 10% of Americans own a record 89% of all U.S. stocks
https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html
Different beasts a little imo, not sure how to even think about the comparable statistics for the stonks at large
Cause the tweet mentions sale volume explicitly; so for stonk, more of a AI-traded vs human kinda thing, but not exactly.
I think this 10% of crypto traders are just pumping in order to dump and exist purely to “excite” the market with inauthenticly-high demand data (inflated sales volume).
I’m not really sure what the equivalent would be for the market at large. Enron types for sure I guess, and what percentage of firms are just various forms of Enron behavior probably depends on your cynicism levels
I dream of a world where anyone who has bought or sold an NFT is composted and used to grow flowers in public spaces.
And literally anyone who has touched an NFT is just ground into slop and fed to pigs. The pigs live full and happy lives in a sanctuary.
Analysis of 6.1 million trades of 4.7 million NFTs shows that the top 10% of traders have traded 97% of NFTs which definitely puts meat on the bones of the hypothesis that a lot of NFT trades are wash sales intended to artificially boost prices.
What is 10 % of traders , the Richests ?
What is to artificaly Boost Prices ? Why ? Which Prices ? Like whats the Game... ?
What is 10 % of traders , the Richests ?
Yes and insiders most likely. Gary V is one of those dudes that was pumping up prices: https://youtu.be/O5GublWdMwI?t=153
Cool must be nice to have enough money to drop 10K on a jpeg
the vast vast majority of crypto is a pump and dump. i myself hold a shitcoin that's worth close to 0
The shitcoins don't cost nearly as much electricity. More than they're worth, of course, but a dogecoin transaction is only like an hour of regular computer use. Or turning off adblock for three days.
