Post
Topic
Board Speculation
Re: OVER $18 MILLION DOLLARS OUT OF WALLETS IN ONE MONTH!!!
by
hyphymikey
on 03/12/2014, 07:04:19 UTC
Not only did you forget all wallets under $1, you forgot the EXCHANGE RATE.

You added up all btc in wallets X exchange rate THEN = your figure from a month ago

Now you "re-added" up all btc in wallets X exchange rate NOW = your figure from time of posting this

Of course there is 18 million dollars less, we are at a lower exchange rate now than then.


If all the ask on the exchanges moved up $100 and someone bought 1 bitcoin up to $480, and you did your math again, would you come here yelling that bitcoin is going to the moon and 13.5 million btc X the $100 raise just flowed into bitcoin? Thats not how it works! This is what you are saying, but the other way around!

I don't think you understand what market cap is. I also don't think you understand that money doesn't flow out of bitcoin. Bitcoins do not get destroyed, they are sold to someone for a price. So every dollar out has to have a dollar in. Thats what the word EXCHANGE means. When people spend coins with merchants, those coins are then sold to someone who gives the merchants dollars, and that person now owns coins. No money has left the system. Technically in bitcoin, there is only money IN. Which is miners adding to the total number of bitcoins. Yes it costs to make these coins, with electricity and equipment, but the exchange rate more than covers this.

Why are you so atiment about trying to convey this idea you have that clearly makes no sense? What is in it for you? Are you trying to get people to sell so you can get cheaper coins? Or do you just like to ramble nonsense? Thats all I've seen you do since you've joined this forum.