Just a quick update on things crypto related!
Markets are down but with a slight uptick this late morning. After taking a dive, like it has this exact same way this past 4 years now, some recent FUD has come from India about shutting down exchanges. However crypto personality John Mcaffee later tweeted about quantum swaps and decentralized exchanges that will make banning a crypto exchange impossible. The smart money is risky on this one and I'm betting on huge gains in 2018 for Bitcoin. Already we are seeing higher low points after the news from India so it's good to see the rest of the world taking it for what it's worth and moving on and up.
Bitconnect still seems to be down and non functional in terms of lending or its exchange. However there are new lending platforms coming out everyday that could withstand the test of time. Be careful out there. I did not sell my Bitconnect coins and plan on staking them in my wallet for the forseeable future. Perhaps they will become valuable again one day and I will have more than what I started with to eventually trade for more Bitcoin. Because ultimately that is the end game; Bitcoin and more of it.
Price of Bitcoin doesn't matter. Neither does my baseless rambling but here we are. Adoption matters, nodes matter, lightning network matters.
Lets do some weird, stupid math here real quick.
Lets assume, at the current price of $11,000 per Bitcoin, that every single person in the world owned one Bitcoin. There are 7.7 Billion people in the world now. That's 7.7 Billion coins. That's a market cap of 84.7 Trillion dollars at a fixed price of $11,000 per Bitcoin. Now, since there really can only ever be 21 Million coins, lets divide 84.7 Trillion by 21 Million. That equals $403,333 per Bitcoin. Why did we do that math? I don't know. It's stupid numbers like these which make no sense and confuse people into investing into weird stuff.
Lets do some better math.
Lets assume that everyone in the world owned an equal amount of Bitcoin, regardless of price. 21 Million maximum divided by 7.7 Billion is 0.002727 repeating. 0.002727 at the current price of $11,000 would be $30. How many people in the world do you think have $30 to put into an investment like Bitcoin? I'd say waaaay less than half. Maybe 1/3? So only a 1/3 of the plant could potentially buy Bitcoin maybe, and that's if they have access to the internet. There's a lot of money to come in the near future. We'll have to wait and see.
Ramble ramble eggs and scramble
