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Calculating the bandwidth of bitcoin

February 26, 2014

OK.  You have 10 million bitcoin.  How much value can you transmit?  Well, a single bitcoin takes an hour to process, that makes that you can use a single bitcoin a maximum of 9000 times a year.  So lets say you reuse a bitcoin 2000 times/year.  So 10 million bitcoin * $1000 / bitcoin * 2000 times/year gives you

  $20 trillion/year

That’s a funny number because the US GDP is 20 trillion and world GDP is about 80 trillion.

It’s almost as if someone thought through these numbers when deciding on the number of bitcoin to be mined…..  Hmmmm…

 

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