Yes. Coin wrappers are a very large part of the financial system and are being sold by banks and other financial institutions on a daily basis. The amount of money they are creating in the markets is huge. In some countries we have seen the amount of money in circulation being as high as $9.6 trillion dollars! And that in a very concentrated market place! The total amount of money in circulation in the United States is over $2.6 trillion.
So, what we are saying is that the money in circulation in the United States is very concentrated and has become very large – it is in a very concentrated market place. But it is not just a financial market on a monetary level. We are not just talking about the money that are being created by banks, which are in fact very large businesses.
, because in this market place there are a lot of people creating lots of money without actually doing anything.
Are we dealing with speculation or with real money?
As of right now speculators make up 95% of the circulation.
Is it possible to know who the speculator is and who the buyer is?
It is possible, but not easy to do so. It seems like if you can figure out the identity of a speculator then you know who is going to take the coins at the end of the day. But these people want to pay whatever price they want, because they are going to buy more coins today without doing anything. That is why they are making lots of money as speculators. But if you look at the quantity of coins in circulation – and you just do a very careful calculation – you know who is buying, who is buying the coins and you know that there are plenty of coins waiting to be sold. They will probably have some money left over for some other coin but this is why they are making money.
What we are doing and this is something we will be exploring further in more detail in the future, is trying to figure out who is buying the coins – a lot of people – and who is buying the coins because there is a lot of demand in the market place. And that is where the money is.
What is a bitcoin as a currency and how big a market is it?
It is actually much bigger than we think. I would say it is a market space with about 2 billion coins in circulation. This is huge and we are very interested in trying to understand it better. In fact, I am really