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Percentage of total coins isn't the correct comparison, it's the percentage of total volume. We're on a pretty high volume day right now and the 24hr volume is
by jonknee 13y ago
Percentage of total coins isn't the correct comparison, it's the percentage of total volume. We're on a pretty high volume day right now and the 24hr volume is at 150k. Some days it's a fraction of that, there have been multiple < 20k days recently. Depending on the day the mined coins are a significant percentage of the total being exchanged (not that all mined coins would be exchanged, but it's a fairly high number otherwise most people wouldn't have any BTC unless they mined it).
- harryh 13y agoHrm, interesting. I'm now deeply uncertain whether % of coins or % of volume is more important. I will have to think about this more.
- Istof 13y agobut once the volume has been exchanged, it's already too late for most people so it would probably be better to find the cause of high % of volume?
- runeks 13y agoRegarding price, percentage of volume is the important metric. It is not relevant that ~12M bitcoins exist, if only, say, 1% of these are for sale on exchanges. Only coins for sale on exchanges help stabilize the price.
- harryh 13y agoBut what exactly does "for sale on exchanges" mean? Presumably a great many coins that didn't trade hands yesterday are still for sale at some price.