How Crypto Billionaires Fake it Until They Become it — The Power of Manipulation in Cryptopia

“Market cap” is terrible signal in crypto: — I could create a token — Hold 1 trillion tokens for myself — Sell 1 token for $1 — Token now has $1 trillion market cap — And I have $999,999,999,999 of tokens This is obviously absurd.

Whats interesting about this is the Opposite point of View

An interesting intellectual construct to consider

How many people does it take to achieve what is mentioned above? One person couldn’t, but 1,000 individuals HODL’ing and collectively seeding a supply to market? What about 10 thousand people where there are specific rules about the % of tokens that can be sold each day. If each person followed the rule religgiously the number required falls astronomically — falling linearly in line with the % of total coins the ‘conductor’ owns.

Altering the paradigm

It might require that you hold these tokens for years but the initial participants control the supply and can hold for as long as is neccesary. One persons greed could send the house of cards tumbling but with rules in places and a single point of control? That is why the requirement for something like this to occur would…