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RE: Bitcoin Hitting $500K, Bitcoin Cash For FREE And Ethereum 2020!

in #youtube7 years ago

That's a great point about the market cap and the price of BTC. I ran some quick rough estimations with the current circulating supply @ $500k the market cap would be enormous at over $8 Trillion. The US economy had a GDP of $18.57 Trillion in 2016. So in order for BTC to climb to that level almost half of the US economic activity would have to be paid for with BTC. Of course this is a rough estimate. There are large blocks that really aren't circulated frequently and a lot more countries using BTC. But even then the world GDP in 2014 according to the CIA Facebook was around $78T.

Personally I am a bit annoyed at the people wanting to fork BTC for a quick speculative coin. No one is going to fully embrace bitcoin cash, and it only hurts bitcoin and other cryptos when these fights occur.

Thanks for your journalism! I enjoy your take on things!

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It seems like BTC cash has gone down quite a bit since it's release, dumped like crazy

Half of the US economy.. LOL. Yeah, that's just crazy when you put it into such perspective.

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