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3min chapter
Bitcoin's Black Swans (Feat. Doomberg)
Crypto Critics' Corner
Is the Mark to Market a Defector?
During a crisis you see these kind of meta staple structures collapse. The speed of such collapses, generally speaking, scales with the amount of leverage that is involved in the system. And there's an enormous amount of leverage in the crypto space in the way that i define it. This is why i always try to frame the discussion, what is the mark to market? Value of the crypto universe divided by the total amount of hard currency float in that system.
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