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A comment on Why you can’t cash out part 1: Bitcoin’s “price” is largely fictional. Parent comment

Re:Why you can’t cash out part 1: Bitcoin’s “price” is large... by mycall on Sunday December 17, 2017 @11:28PM (#15949420)
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?
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Re:Why you can’t cash out part 1: Bitcoin’s “price” is large... by gizmo686 on Sunday December 17, 2017 @11:58PM (#15949537)
You 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).
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