- Mar 29, 2010
- Androgyne; they/them
- Basic Beliefs
- Natural Philosophy, Game Theoretic Ethicist
As I keep saying, the volume is caused by it's actual use, those who buy and sell bitcoins at transactional volumes rather than at speculative volumes. They do so for drugs, constantly, and their loss from speculation is less than the traditional loss from normal money laundering or getting scammed.The thing I found interesting looking at Bitcoin's chart was that there was virtually no connection between trade volume and Bitcoin value. The volume of Bitcoin seemed relatively cyclical. Bitcoin went up, around the same. Massive crash, about the same.Something big must have cashed out at just before 3 AM EDT this morning. Everything listed on coindesk.com instantly dropped 8% at that time. Maybe a failed DeFi liquidated then?
It doesn't matter if the market is volatile. People will buy their bitcoins, buy their monero, buy their drugs, and the other side will sell their drugs, sell their monero, "sell" some NFTs, actually sell some NFTs, sell their bitcoins, and have cash, because it's cheaper and safer doing all that than going out on the street.