Sorry! Does market cap go down with an offer or an actual transaction? I believe it is only when a transaction occurs at a given price. Rookie trader here.
If the market cap goes down that fast it has to go up that fast too. So I could offer $1 for one trillionth of a pocket token. That would make every pocket token worth 1 trillion dollars and we would be stinking rich!
Well. Yes. in reality I know there are all sorts of implications. However, since we have a super thinly traded commodity in a non existent market; there is no reason we can't have a little fun. Remember when the first pizza was sold for bitcoin? In seriousness; this is not all that different from the opposite Mark-to-Market rules that hit US banks at the height of the Sub-prime financial market. Not that different from Tulip mania.
I saw! I think it's the biggest sale of pocket tokens to date. Looks like everyone got what they wanted! Was the price somewhere in line with what you expected?
Well to be honest I don't know what I was expecting.. It was just a test. But I saw that in another auction out there the price for 100k tokens was 2$. So it seems I got a price of more than double that on my million tokens!
Sorry! Does market cap go down with an offer or an actual transaction? I believe it is only when a transaction occurs at a given price. Rookie trader here.
I'm just messing around. I think chasing market caps for highly illiquid assets is silly anyway.
And you're right - no trade yet, so no damage done. Whew!
If the market cap goes down that fast it has to go up that fast too. So I could offer $1 for one trillionth of a pocket token. That would make every pocket token worth 1 trillion dollars and we would be stinking rich!
It's not that simple.. You have to take into account the volume traded, if you are the only one buying at the price, you will not affect the market 😹
It would be interesting to see when lot of people start trading them!
Well. Yes. in reality I know there are all sorts of implications. However, since we have a super thinly traded commodity in a non existent market; there is no reason we can't have a little fun. Remember when the first pizza was sold for bitcoin? In seriousness; this is not all that different from the opposite Mark-to-Market rules that hit US banks at the height of the Sub-prime financial market. Not that different from Tulip mania.
Heh. You'd have to figure out a way to sell a trillionth of an indivisible token. That would be a trick!
Until we figure that out we can round up. So whatever fraction of a point is transferred we move one point.
I am going to try to do this... https://steemit.com/pocket/@cryptick/be-instant-trillionaires-with-a-pocket-token-auction
Auction is ended!
https://steemit.com/pocket/@armandocat/auction-ended-i-sold-my-1-million-pocket-tokens-for-28-580-steem-45usd
Let me know you thoughts about it 😼
I saw! I think it's the biggest sale of pocket tokens to date. Looks like everyone got what they wanted! Was the price somewhere in line with what you expected?
Well to be honest I don't know what I was expecting.. It was just a test. But I saw that in another auction out there the price for 100k tokens was 2$. So it seems I got a price of more than double that on my million tokens!
Yeah, the market isn't very efficient yet :)