It is said that “Anything can happen in one day.” But nobody would have thought it meant becoming quadrillionaires for a few minutes or rather, seconds. Well, we can always count on crypto for making the impossible possible, but as always it comes with a twist. And this time the twist is rather funny. What will your reaction be when you wake up one fine day and you see a single bitcoin trading at a whopping $778,000,000,000. Apart from the fact that it has an insane number of zeroes, the figure can be a cause for an abrupt brain freeze or paralysis from surprise. The same happened on Tuesday when a slight display error made investors quadrillionaires on paper.
How did it feel to be a trillionaire for a couple hours?😂
— CoinMarketCap (@CoinMarketCap) December 14, 2021
The What and How
Bitcoin has become quite popular over the years, extending its influence far and wide, with countries even adopting it as legal tender. And it is quite natural for a cryptocurrency with such influence to have created a few millionaires over the years. However, it is quite unnatural when in a day it adds a few million to the investors’ wealth. On Tuesday, a slight error with display led to various digital asset exchanges including Coinbase and CoinMarketCap.com displaying erroneous quotes that led to quite a bit of confusion and perhaps a bit of excitement, since when it comes to cryptocurrency, a sudden high point in the rollercoaster is not unusual. However the exaggerated price amounts were beyond the roller coaster theory and soon enough, the digital asset exchanges acknowledged the glitch which led to the erratic display. And now, the crypto community has a joke to talk about and their responses are flowing from all directions on Twitter. After all, it is not every day that you become a quadrillionaire in the blink of an eye and go back to square one in the next blink.
The unusual price quotes extended to stablecoins as well, although they are supposed to be pegged to a fiat currency like the euro or the US dollar. For instance, a single unit of Tether displayed a mind-boggling price of about $14 million. This was quite in contrast with reality where Tether is meant to hold at $1. Now that is a rather big difference. Although Coinbase did not respond to the queries immediately, it informed that the issue was resolved through its Twitter account. A week before, a weekend flash crash had led to the crash in the value of digital assets. And this display error comes right after that. However, the error is not related to any actual price shifts in the market, the erroneous quotations being the only reason.
Responses On Twitter
Let us flip through a few of the hilarious responses on Twitter. Now we know that the crypto community knows how to take a joke.
I quit my job and bought a lamborghini, this ain't no laughing matter
— Jack (@J4CKMULL) December 14, 2021
How does it feel to hire a new website programmer in the next couple hours? 😂
— Matt Wallace (@MattWallace888) December 14, 2021
— Adam Singer (@AdamSinger) December 14, 2021
ahhh, being an unrealized quadrillionaire is nice, but i think it might raise my tax bracket a bit pic.twitter.com/ddobkr3T3y
— Shibetoshi Nakamoto (@BillyM2k) December 14, 2021
— Kartik (Founder, CEO & Investor) (@ikartikmakwana) December 15, 2021
So you’re telling me I’m not a quadrillionaire?
— Dogeeee (@Dogecoinrich) December 14, 2021
Being a quadrillionaire felt really good for that brief second #CoinMarketCap
— R (@drippincryptotx) December 14, 2021
— Shana (@shana_chun) December 15, 2021
— Unknown Clown 🤡 (@BIockchainClown) December 15, 2021
After today a quadrillionaire
ain't what it used to was be pic.twitter.com/jdP9Isw28j
— 69Corvette427 (@MJ88576770) December 14, 2021
Absolutely, my friend! Once upon a glitch, I thought I was a quadrillionaire 😅 pic.twitter.com/rPissw8AOS
— Perplexed Clucker (@PoopyButt0x) December 15, 2021
Hey @CoinbaseSupport I’m confused, it said on your app I was a quadrillionaire but when I went to go sell, I only got $7?
I’m very upset!
— Rohun vora (@rohunvora) December 14, 2021
Quadrillionaire, actually😔 https://t.co/3Ry4Yj6ESZ
— OxRendi (@0xRendi) December 15, 2021
Coinmarketcap made me a quadrillionaire imma be dropping out of college and retiring as of today #ToTheMoon 🚀
— Poseidon (@_ilanuzan) December 14, 2021
Now that is a rather interesting way of putting it. “Once upon a time, I was a quadrillionaire.”
I am a former quadrillionaire.
— omotayo (@omotayoemem) December 15, 2021