Hello, all!
I've got a quick opinion question related to the volatility of the markets. I'm pretty sure that most of the BTC that has been generated over the life of this project is not being spent. More specifically, I mean that, in my guess, I'd say less than 5% of all BTC ever mined is being used to buy products and services. I'd estimate, ehh, half is being played in the markets daily/weekly , and the remainder is being hoarded or "invested" long-term.
Based on the numbers in this chart,
http://www.visualeconomics.com/the-value-of-united-states-currency-in-circulation/I'd suppose that out of the roughly 28 billion US bills in circulation, most are spent regularly (meaning within a month).
How do you suppose Bitcoin circulation numbers work out? What percent are being used regularly, what percent played on the market, and what percent locked away, not being moved?
Cheers,
John
