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Think about it this way: There is 7bn people on the planet. $170bn works out an average of $24/person. Or $2/month. Even poor people in poor countries can affor
by csomar 6y ago
Think about it this way: There is 7bn people on the planet. $170bn works out an average of $24/person. Or $2/month. Even poor people in poor countries can afford that. It might actually be cheaper for them, many poor countries (think Africa, Argentina, Brazil, etc...) are going through hyperinflation that it is safer and less volatile to hold Bitcoin.
- graeme 6y agoThat calculus doesn’t work as a store of value. For the substantial minority of people earnings ~$2 per day, $24 per year is a sizeable fraction of wealth. As far as currency goes, it bitcoin transactions rise, does that have no impact on price? I realized my price thinking makes no mention of them and I don’t know how they affect things.
- csomar 6y ago$24 is not a sizeable fraction of wealth by any measure. And here we are talking averages. The average per capita GDP is $18k. $24 is a very small number to that.
- graeme 6y agoThe median wealth per adult in africa is $1600. And the cost per adult would be over $24. At least a quarter of people in africa are under 18 I think, though I couldn’t find great stats. So the correct number would be more like $32. 2% of wealth per year.