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Why does bitcoin even need market cap? Since it is a blockchain, you can calculate how much fiat/worth it currently has, by adding up all of the transactions.
by mycall 9y ago
Why does bitcoin even need market cap? Since it is a blockchain, you can calculate how much fiat/worth it currently has, by adding up all of the transactions. No?
- gizmo686 9y agoYou can calculate how many bitcoins are theoretically in existance by simply counting the number of blocks and refferencing issuance schedule. The blockchain will not tell you what these bitcoins are worth in any other currency; nor will it tell you how many of these bitcoins are spendable by anyone (eg. did the owner loose the key).