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BTC market size is the $$/Yen/GBP/Euros exchanged into BTC a day and backwards, not Max(SomeOnePaidForBtc) * BTCs outstanding.
by notyourday 9y ago
BTC market size is the $$/Yen/GBP/Euros exchanged into BTC a day and backwards, not Max(SomeOnePaidForBtc) * BTCs outstanding.
- ryanwaggoner 9y agoInteresting. Why is it this and not daily volume?
- vkou 9y agoI trade you my dog for your cat. We both say that they are worth a million dollars. What is the market cap of our two-animal store-of-value ecosystem? (Unless you're an economist, the answer is not "Two million dollars.") On the other hand, if I then went ahead and sold your cat to some outside party for $600, and you sold my dog for $400, we could reasonably say that the market cap is ~$1000.