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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: August 01, 2020, 01:56:56 AM
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But there are some interesting assumptions in this idea from my vantage point. This idea seems to rely on the basis that wealth is a zero sum game. As in - value cannot be created, but has to arise directly from existing value.
But the market cap of bitcoin will not rise X because X value is put into it. It will rise Z when X value is put in.
Bitcoin is currently worth ~200 billion. How much money has to flow in for it to be worth 1 trillion? I do not believe the answer is 800billion.
Price goes up when buyers buy more than sellers sell. It has *nothing* to do with "incoming" money. Market cap is meaningless.
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