Re:Bitcoin surpasses $50K as major companies jump into crypto
by saalweachter on Wednesday February 17, 2021 @12:01PM
(#26168598)
> This doesn't necessarily mean you're invalid, but if BTC increased 100x, they'd exceed the world's GDP.
Ahh, but the asteroid 16 Psyche is worth $10 quintillion and one day we'll mine it. That lets the BTC cap go 100,000x further than the world GDP.
[On a more serious note, note that GDPs have a time component and market caps -- or the amount of a currency in circulation -- don't. If each unit of money gets spent every month, you only need GDP/12 units of money in circulation; if each unit of money gets spent every 10 years, you need GDPx10 units of money.]
Ahh, but the asteroid 16 Psyche is worth $10 quintillion and one day we'll mine it. That lets the BTC cap go 100,000x further than the world GDP.
[On a more serious note, note that GDPs have a time component and market caps -- or the amount of a currency in circulation -- don't. If each unit of money gets spent every month, you only need GDP/12 units of money in circulation; if each unit of money gets spent every 10 years, you need GDPx10 units of money.]