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Wednesday, August 9, 2017

Bitcoin math


So there's apparently about 16 million bitcoins.

Each one is supposedly valued at about $3280.

Thus there's approximately $53 billion theoretically supposedly worth of bitcoins.

That's a lot of laundered Chinese money and crypto ransoms!

I wonder when the total theoretical value will exceed the total possible demand? I mean, Bitcoin is only worth what people will pay for it. And everything's demand always has an upper limit.

McAfee promised to eat his own dick on TV if Bitcoin didn't hit $500,000 in 3 years. That'd require somewhere around $10 trillion stored in bitcoins worldwide.

So I guess we get to watch John McAfee eat his own dick on live TV in 3 years.

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