Right, but then claiming that "technically" it's the highest value crypto is false, because you're applying current market price to total supply, not circulating supply.
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Right, but then claiming that "technically" it's the highest value crypto is false, because you're applying current market price to total supply, not circulating supply.
agreed, its an evaluation of the total worth that doesn't apply when selling
Right. For example, Stellar is worth $0.72c right now. Circulating supply is 17.9b. Total supply is 103.5b. So should we say its true valuation is $74b (0.72*103.5b)? Definitely not. Same goes for Ripple / any other coin.
The point was that the coins technically already exist. The coins yet to be mined don't "technically" exist yet. It was all based on technicalities, not to be taken literal, which you seem to be missing.
Right, but I could make the same argument for the diamond industry. X diamonds are cut and available for sale in stores, X+Y diamonds are cut total (there are MANY multiples more diamonds mined + cut than available for sale).
Say average price of a diamond is $500 for the example's sake.
There are 1 million diamonds available for sale, so circulating supply market cap is $500m. But there are 10m more diamonds already mined, but held in a vault. It would be silly to say that the market cap for diamonds is now $500 * 11 million (1 million circulating + 10m yet to be released, but existing).
Because if they were released, even in chunks that would depress the market price and the calculation would be completely different.
So the only universe in which XRP is the largest market cap coin is one in which they release 100% of existing coins and demand keeps price perfectly stable, which is more or less an impossibility from an economic standpoint.
Yes you could make that same argument. The post had nothing to do with whether or not those extra 61 billion coins could come into the market or what those might do to the price. In fact, it states right in there in the post that they are restricted and only slowly being added to the market much the same way new bitcoins are mined. However, the process is very different. Which was more or less the point, hence all the "technicalities".
Gotcha. I guess I wanted to come back with some more technicalities of my own ;) - Love your stuff dude.