This is the story about wealthy Satoshi, two enthusiasts - millionaires for a second, and one sufferer.
Once upon a time in a room lived programmer Satoshi. Satoshi invented a bitcoin and wrote the system code. Satoshi made his code open and provided an opportunity for anyone who is not clever enough or who doesn’t want to use their mind to write boring code to create their own cryptopet.
And before running his code into the open world, Satoshi decided to conduct an experiment in a separate room. He invited two guys to his room: Charlie Lee and someone called Vitalik. They came to Satoshi, grabbed some beer and created their own systems. One, was never minded, took the bitcoin code and changed there a couple of options created Litecoin, and then started drinking beer and enjoying life. Vitalik was a geek, without beer he was created a code. And he made the code better than Satoshi. But it does not matter.
Then they settled in the corners and began to mine their own coins using a laptops.
Satoshi mined 100 bitcoins
Charlie mined 1000 litecoins.
Vitalik mined 1000 etheriums, but mining was boring and he started to drink beer with older comrades. The older comrades were talking about women. Vitalik was not interested, and he connected to the Internet to play DotA. Children from the DotA stole Vitalik’s etherium, so next morning, Vitalik sobered up and made a hard fork.
The beer was over.
They didnt have fiat money,
but there were some people with it.
Crypto-enthusiasts called one guy to their room and told him that bitcoin, litecoin and ether is a new money, and dollars are out of use anymore. A guy sold his car, took a loan in a bank and brought 13000$ into the room.
And the great trade of the crypt began.
A guy bought from Satoshi 1 bitcoin for 13,000 dollars.
Satoshi now had 13,000$ and 99 bitcoins with a cape of 1, 287, 000$ that is 99 bitcoins multiplied by 13,000$ cost per each. So, by selling 1 bitcoin for 13,000 Satoshi became a millionaire with a nominal state of 1,300,000$.
Then Satoshi bought 10 litecoins from Charlie, defining the cost of litecoin as 1,300$.
Charlie became a millionaire with a nominal state of 1,300,000$. (990 litecoins * 1300 + 1 bitcoin for price of 13,000$)
Now it's time to make Vitalik a millionaire too. Vitalik bought 1 litecoin for 1 etherium and became rich too. There is also $1.3M.
Satoshi carried away his 13,000$ from the room to his secret apartment located at: Chicago Futures Street 666.
So we have: two millionaires with a crypt at a nominal price of 2 * $1.3M, one millionaire with a crypt of 12,987,000$ and 13,000$ and one guy who still hasn’t understand that he is a sufferer with 1 bitcoin with a price of 13,000$.
When a guy visited a room, there was a capitalization of 13,000$.
After making three transactions, the capitalization in the room became 3,913,000$.
After Satoshi took out from the room 13,000$, for which he sold just 1 bitcoin, the capitalization in the room remained 3,900,000 usd.
So there was no real dollar in the room.
In the room there were exactly the same 100 bitcoins, 1000 litecoins and 1000 ethers - which were there even before a guy walked in the room. Until the entrance of a sufferer there were three poor people, and after Satoshi took 13,000$ from the room, there remained three nominal millionaires and owner of the 1 bitcoin with a price of $13K.
Now please answer the first question:
At what price would the transaction be acted when a poor guy place a market order of his bitcoin in USD?
And the second question:
What would be the total capitalization of crypto currency in the room at that particular time?
Once upon a time in a room lived programmer Satoshi. Satoshi invented a bitcoin and wrote the system code. Satoshi made his code open and provided an opportunity for anyone who is not clever enough or who doesn’t want to use their mind to write boring code to create their own cryptopet.
And before running his code into the open world, Satoshi decided to conduct an experiment in a separate room. He invited two guys to his room: Charlie Lee and someone called Vitalik. They came to Satoshi, grabbed some beer and created their own systems. One, was never minded, took the bitcoin code and changed there a couple of options created Litecoin, and then started drinking beer and enjoying life. Vitalik was a geek, without beer he was created a code. And he made the code better than Satoshi. But it does not matter.
Then they settled in the corners and began to mine their own coins using a laptops.
Satoshi mined 100 bitcoins
Charlie mined 1000 litecoins.
Vitalik mined 1000 etheriums, but mining was boring and he started to drink beer with older comrades. The older comrades were talking about women. Vitalik was not interested, and he connected to the Internet to play DotA. Children from the DotA stole Vitalik’s etherium, so next morning, Vitalik sobered up and made a hard fork.
The beer was over.
They didnt have fiat money,
but there were some people with it.
Crypto-enthusiasts called one guy to their room and told him that bitcoin, litecoin and ether is a new money, and dollars are out of use anymore. A guy sold his car, took a loan in a bank and brought 13000$ into the room.
And the great trade of the crypt began.
A guy bought from Satoshi 1 bitcoin for 13,000 dollars.
Satoshi now had 13,000$ and 99 bitcoins with a cape of 1, 287, 000$ that is 99 bitcoins multiplied by 13,000$ cost per each. So, by selling 1 bitcoin for 13,000 Satoshi became a millionaire with a nominal state of 1,300,000$.
Then Satoshi bought 10 litecoins from Charlie, defining the cost of litecoin as 1,300$.
Charlie became a millionaire with a nominal state of 1,300,000$. (990 litecoins * 1300 + 1 bitcoin for price of 13,000$)
Now it's time to make Vitalik a millionaire too. Vitalik bought 1 litecoin for 1 etherium and became rich too. There is also $1.3M.
Satoshi carried away his 13,000$ from the room to his secret apartment located at: Chicago Futures Street 666.
So we have: two millionaires with a crypt at a nominal price of 2 * $1.3M, one millionaire with a crypt of 12,987,000$ and 13,000$ and one guy who still hasn’t understand that he is a sufferer with 1 bitcoin with a price of 13,000$.
When a guy visited a room, there was a capitalization of 13,000$.
After making three transactions, the capitalization in the room became 3,913,000$.
After Satoshi took out from the room 13,000$, for which he sold just 1 bitcoin, the capitalization in the room remained 3,900,000 usd.
So there was no real dollar in the room.
In the room there were exactly the same 100 bitcoins, 1000 litecoins and 1000 ethers - which were there even before a guy walked in the room. Until the entrance of a sufferer there were three poor people, and after Satoshi took 13,000$ from the room, there remained three nominal millionaires and owner of the 1 bitcoin with a price of $13K.
Now please answer the first question:
At what price would the transaction be acted when a poor guy place a market order of his bitcoin in USD?
And the second question:
What would be the total capitalization of crypto currency in the room at that particular time?
