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mistermircea's profile
Mircea Macavei
Mircea Macavei
Mircea Macavei
@mistermircea

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Mircea Macavei

@mistermircea

Individualist, Gallivanter.

Joined October 2016

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    1. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017

      1/ What causes asset prices to move? For someone to buy, there must be a seller and vice versa. It only takes one single buyer of $1 worth of an asset to potentially drive the drive up infinitely...the price will rise until some new marginal seller is enticed to sell.

      15 replies 85 retweets 265 likes
      Show this thread
    2. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017

      2/ In most traditional assets, there's some conception of "fair value." Buyers and sellers often disagree on fair value, that's what causes most trading. But, there's usually general agreement on fair value within a broad range.

      3 replies 12 retweets 45 likes
      Show this thread
    3. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017

      3/ So as the price rises, people are enticed to sell, and fewer people are interested in buying. Cryptocurrency is different for a few reasons.

      1 reply 12 retweets 37 likes
      Show this thread
    4. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017

      4/ Why is crypto different? A. Value is reflexive. A higher price actually makes the asset more valuable because it is then more liquid and better able to serve as a store of value or monetary transmission tool.

      4 replies 25 retweets 82 likes
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    5. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017

      5/ B. There is no calculable fundamental value for the store of value crypto assets. Rather, the network value reflects demand for judgement resistance. The price has no connection to the "service" of judgement resistance.

      3 replies 16 retweets 58 likes
      Show this thread
    6. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017

      6/ C. And lastly, network effects in what may be a "winner take all" use case increase the odds of an appreciating cryptocurrency winning the competition, so investors become more confident in their investment as price rises.

      3 replies 16 retweets 49 likes
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    7. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017

      7/ This might make it seem like a rallying cryptocurrency will rally forever. Of course that's not necessarily true. A reversal can be caused by an exogenous shock (regulation, software bugs, hacks, etc).

      2 replies 12 retweets 58 likes
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    8. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017

      8/ But no exogenous shock is necessary. When an asset rallies for a while, speculators jump on board, often with margin and leverage. Then a slight decline can trigger a wave of these speculators to sell, causing a major correction that resets the market psychology.

      15 replies 18 retweets 115 likes
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      Mircea Macavei‏ @mistermircea 7 Dec 2017
      Replying to @AriDavidPaul

      Clear, lucid thinking, as usual. Thanks for sharing.

      9:53 PM - 7 Dec 2017
      • 9 Likes
      • Thyag Sundaramoorthy ⚡️bitman⚡️ Valentin Oreshkov Wavy Wave Joshua Morn Grant Deon Ralph Ari Paul
      1 reply 0 retweets 9 likes
        1. Ari Paul‏Verified account @AriDavidPaul 7 Dec 2017
          Replying to @mistermircea

          That's high praise coming from you! I'm a big fan of your storms.

          0 replies 0 retweets 8 likes
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