Comment on From millions of dollars to under a grand: The dramatic fall of the NFT
HK65@sopuli.xyz 2 months agoThe supply of an asset is the volume of that asset available for purchase.
If I buy all of that, supply becomes zero.
Comment on From millions of dollars to under a grand: The dramatic fall of the NFT
HK65@sopuli.xyz 2 months agoThe supply of an asset is the volume of that asset available for purchase.
If I buy all of that, supply becomes zero.
mattyroses@lemmy.today 2 months ago
The price goes up as you buy it.
You could attempt to corner the market, but in doing so, you’re also going to be massively enriching the current holders.
What point would taking the entire supply do - especially since you can easily just start another blockchain?
HK65@sopuli.xyz 2 months ago
You buy enough to raise the price, announce that you’re buying it, schmucks try to get in on the wave, you dump while tweeting diamond hands.
Repeat.
mattyroses@lemmy.today 2 months ago
Again, why?
HK65@sopuli.xyz 2 months ago
To make money