Jemima_Kelly,_Financial_Times_Alphaville.yml

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# Jemima Kelly, Financial Times Alphaville


- quote: |
    The idea that you can get out of your bitcoin position at any time and the market 
    will stay intact is frankly a nonsense. And that's why the bitcoin religion's "HODL" mantra 
    is so important to be upheld, of course.

    Because if people start to sell, bad things might happen!
  date: 2021-01-07
  source: https://www.ft.com/content/af686b47-dbb8-426c-b530-27898891bd16

- quote: |
    It is estimated that about 20 per cent of bitcoins have been lost in various ways, 
    never to be recovered. Then there are the so-called "whales" that hold most of the bitcoin, 
    whose dominance of the market has risen in recent months. The top 2.8 per cent of bitcoin addresses 
    now control 95 per cent of the supply (including many that haven't moved any bitcoin for the past half-decade), 
    and more than 63 per cent of the bitcoin supply hasn't been moved for the past year, according to recent estimates.

    What all this means is that real liquidity - the actual available supply of bitcoin - is very low indeed. 
  date: 2021-01-07
  source: https://www.ft.com/content/af686b47-dbb8-426c-b530-27898891bd16

- quote: |
    What we call the "bitcoin price" is in fact only the price of the very small number of bitcoins 
    that wash around the retail market, and doesn't represent the price that 18.6m bitcoins 
    would actually be worth, even if they were all actually available.
    
    So the "market cap" is in this way nonsense multiplied. You times two things together 
    that don't reflect what they claim to - the "circulating supply" and the "price" - and voilà!
  date: 2021-01-07
  source: https://www.ft.com/content/af686b47-dbb8-426c-b530-27898891bd16