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It is assumed that this is based on a volume of ocean water 1,300,000,000 km3
or 310,000,000 cubic miles.
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No, the oceans do not contain enough salt to cover all of the continents with a layer 50 feet thick. The average salt content in the oceans is about 3.5%, and there is not enough salt to form a layer that thick on the continents.
An equilibrium exist on long term.
Oceanography
About 97% of the Earth's water is salt water found in oceans and seas.
The moon has a greater effect than the sun on the earths oceans.