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For those of us not familiar with this particular financial product (is that even the right term?), could you elaborate on the $30+ billion dollar figure? How d
by 467568985476 9y ago
For those of us not familiar with this particular financial product (is that even the right term?), could you elaborate on the $30+ billion dollar figure? How do you arrive at that number?
- gibybo 9y agoMy figure was from http://coinmarketcap.com/ http://coinmarketcap.com/ (look at the top) I rounded down a bit to compensate for some of the lower volume cryptocurrencies and any potential issues with market cap that it might not be reporting correctly. You can get to $30 billion just by taking the current total number of Bitcoin + Ether outstanding and multiplying by their respective token prices. Admittedly both numbers are inflated some amount due to tokens being unknowingly lost/destroyed, but I think we're still in the ballpark of $30B. There is also a few hundred million (possibly low single digit billions) of venture capital in startups based on cryptocurrencies.
- chillwaves 9y agoDo you think the price would hold if mass numbers were converted to fiat?
- gibybo 9y agoOf course not, but that's true of every asset. Apple would drop from $790 Billion in market cap to a tiny fraction of that if shareholders started trying to sell their shares enmasse.