What I find amusing is you guys disagreeing with facts.... but whatever... it's funny.. and it does explain a bunch of things.
What does it explain?
And the title is "Bitcoins have lost $174,458,406.27 since July 9th 2011." What happened is the post was published with 210 due to a bug and then was corrected, but tribbleagency uses a caching system so it took time to refresh.
So you were in error, but I am disagreeing with facts?
FACT : Total Value of Entire Bitcoin Economy $35,538,113.00
I love to hear your argument on how spot price x number of bitcoins in circulation isn't that figure, please amuse me.
There are a lot of arguments against that. If you tried to buy up all of the bitcoins out there, $35M would not be enough. The price would rise pretty fast as you were buying and you would run out money well before the last coins were bought. That figure does not include assets that are being used in the bitcoin economy as well which could be quite substantial.
The number and methodology you have used gives the market cap of bitcoin, but that does not mean it is the "Entire Value"
FACT : A total of $1,042,640.53 per month must enter the bitcoin economy to keep the current value of USD $4.827039512571 per BTC
I love to hear that in order to keep the current value, while printing them off, you don't need to add new inputs.. Please give me some federal reserve math here on how you can print without expanding the economy... again.. I need to be amused.
This is far more debatable then your other stuff, this is in fact pure conjecture. Since all bitcoin created is not immediately sold, that alone would make that figure incorrect. NOBODY knows exactly what percentage that is, but it is NOT 100%. We can see that by simply watching the block chain and seeing freshly mined coins not move.
