Altcoin market caps are pretty easy to play around with as a group/entity holding the majority of the circulating supply. Great example is that there have already been coins with a market cap of over $1 trillion.
Coinmarketcap used to list them, but they stopped doing so because it either messed up their charts, or purely because of the fact that it was empty manipulation. Either way, market caps shouldn't really matter.
I only pay attention to how Bitcoin is operating since this is the only coin that actually enjoys a decent bit of usage aside from speculative purposes. Regardless of how people think about it, they will keep using it.
Topic: [2017-12-03] Cryptocurrency as a Whole Will Be Worth Trillions of Dollars (Read 3121 times)
December 04, 2017, 07:16:03 AM
December 04, 2017, 06:32:02 AM
Since cryptocurrencies are still a novelty, he added, we still need to try new things to see what works.
The best way to try new things is not by getting as many speculators on board as possible. Most of the current coins (with the exception of BTC) are very focused on how to obtain the highest price and the most hype, when they clearly should be focused on development.
Remember, this is first and foremost an experiment in cryptography. It's important that crypto becomes as great as everyone thinks it is before the price gets really high.
Most of us who have seen the growth, since March, first hand know that cryptocurrency will be a trillion dollar market sooner or later.
It's an absurd assumption to think that a bull market must continue at the crazy rates that it's been moving over the last few months. Some people need to factor in more risk and realise that this is a risky investment. December 04, 2017, 05:03:41 AM
The cryptocurrency industry is still in early stages so in that sense I don't think it has hit puberty yet. Most of us who have seen the growth, since March, first hand know that cryptocurrency will be a trillion dollar market sooner or later. The only question is when. As Wenger said "a bubble is only something you can ever figure out in hindsight" but when a bubble finally occurs I think most of us will have a pretty good idea it's happening.
Bitcoin is already on the 6th place on the list of the most circulated coins and it is really just in early stages just like you say. And I think that bubble you and Wenger talk about will never happen, cause of bitcoin is not a financial pyramid, it is a new word in the financial world and it is becoming something as a mainstream, countries are creating their national crypto currencies, and that fact shows us that bitcoin and digital currencies in general is going to be a part of our lifes, the same as fiat. December 04, 2017, 03:58:02 AM
The Coinmarketcap is already worth 300 billion and I really agree that we can reach that in 2018 and hopefully that it will happen by its first half. I've read news of many incoming large group of investors to bitcoin so we'll see how fast will this go.
December 04, 2017, 02:46:41 AM
The opinions of the scientists differed. Some experts believe that bitcoin is a bubble and it must be destroyed. Others predict the cost of bitcoin $ 1 million. I see that specialists do not understand what is happening. Therefore, their words can be regarded as a personal opinion.
December 03, 2017, 03:05:34 PM
I am wondering how long BTC will hold 50%+ of the market cap. If BTC continued in 2018 with more than that, it will be possible that everything will start to move to BTC layers and other blockchains will just disappear. I believe that in 2018 we could see BTC bellow 40% but worthing at least 30k.
Bitcoin's market cap dominance doesn't hold much value. Crypto in its entirety has grown alongside Bitcoin, with its own industry and market attracting a wide variety of attention and money. Even if Bitcoin's market cap at some point 'just' accounts for 25% it doesn't mean anything. People quite often forget that Bitcoin is one single coin versus (in the next years possibly) thousands of different coins with all their own use and markets. It's an unfair comparison by default, that at the same time doesn't mean anything. Important is the use of Bitcoin, and its insanely powerful and secure network, and this is something that no altcoin will ever even come close to.
December 03, 2017, 02:54:52 PM
I am wondering how long BTC will hold 50%+ of the market cap. If BTC continued in 2018 with more than that, it will be possible that everything will start to move to BTC layers and other blockchains will just disappear. I believe that in 2018 we could see BTC bellow 40% but worthing at least 30k.
December 03, 2017, 11:08:02 AM
USV’s Albert Wenger: Cryptocurrency as a Whole Will Be Worth Trillions of Dollars
Following bitcoin’s historic march to $10,000 and subsequent volatility, covered by CCN, various prominent Wall Street executives have been weighing in on bitcoin and the cryptocurrency ecosystem in general, showing they aren’t too fond of it. Nobel Prize-Winning economist Joseph Stiglitz recently stated that bitcoin should be “outlawed,” while Goldman Sachs CEO Lloyd Blankfein apparently soured on bitcoin as he stated that it’s a “vehicle to perpetrate fraud.”
However, Union Square Ventures (USV) partner Albert Wenger recently shared his views on the cryptocurrency ecosystem, and made it clear that he feels its current $300 billion market cap is just the beginning of the journey.
While speaking to CNBC, Wenger stated that “a bubble is only something you can ever figure out in hindsight,” and added that he finds it instructive to look at Amazon’s stock chart. The e-commerce giant’s chart, Wenger continued, looks like a “massive upward-sloping curve,” but when we zoom in on it, we can see that in the beginning there was a run-up and big drop-off. To him, the cryptocurrency’s chart will, in the future, be a “very massive run-up.”
As such, it’s possible that the current run-up turns out to be “a blip on that chart.” To him, since the cryptocurrency ecosystem has grown to where it is today, there’s definitely a way for it to do down as well, but there’s also a path for it to reach trillions of dollars. He notably stated:
“And there’s definitely also a path to the future where cryptocurrency as a whole will be worth trillions of dollars. So I believe that there’s a good change cryptocurrencies taken together as a bucket will be worth trillions of dollars.”
Wenger added that he believes we’re still far from that, and that there will be set backs along the way. When asked if he believed cryptocurrencies were going through an “Amazon moment,” he clarified that they’re going through an “exuberant moment.”
Regarding whether or not there’s a bubble, he stated that “at some point there’s a reset,” adding that using the word bubble implies it’s about to pop, something Wenger believes may or may not happen.
To Wenger, all this irrational exuberance is a good thing for cryptocurrencies in the long run, as it brings investors and entrepreneurs to the space. Since cryptocurrencies are still a novelty, he added, we still need to try new things to see what works.
Earlier this year, USV’s co-founder Fred Wilson dismissed potential bitcoin crash predictions, and explained the optimal cryptocurrency holdings for investors, according to their comfort levels.
Source: https://www.cryptocoinsnews.com/usvs-albert-wenger-cryptocurrency-as-a-whole-will-be-worth-trillions-of-dollars/
Following bitcoin’s historic march to $10,000 and subsequent volatility, covered by CCN, various prominent Wall Street executives have been weighing in on bitcoin and the cryptocurrency ecosystem in general, showing they aren’t too fond of it. Nobel Prize-Winning economist Joseph Stiglitz recently stated that bitcoin should be “outlawed,” while Goldman Sachs CEO Lloyd Blankfein apparently soured on bitcoin as he stated that it’s a “vehicle to perpetrate fraud.”
However, Union Square Ventures (USV) partner Albert Wenger recently shared his views on the cryptocurrency ecosystem, and made it clear that he feels its current $300 billion market cap is just the beginning of the journey.
While speaking to CNBC, Wenger stated that “a bubble is only something you can ever figure out in hindsight,” and added that he finds it instructive to look at Amazon’s stock chart. The e-commerce giant’s chart, Wenger continued, looks like a “massive upward-sloping curve,” but when we zoom in on it, we can see that in the beginning there was a run-up and big drop-off. To him, the cryptocurrency’s chart will, in the future, be a “very massive run-up.”
As such, it’s possible that the current run-up turns out to be “a blip on that chart.” To him, since the cryptocurrency ecosystem has grown to where it is today, there’s definitely a way for it to do down as well, but there’s also a path for it to reach trillions of dollars. He notably stated:
“And there’s definitely also a path to the future where cryptocurrency as a whole will be worth trillions of dollars. So I believe that there’s a good change cryptocurrencies taken together as a bucket will be worth trillions of dollars.”
Wenger added that he believes we’re still far from that, and that there will be set backs along the way. When asked if he believed cryptocurrencies were going through an “Amazon moment,” he clarified that they’re going through an “exuberant moment.”
Regarding whether or not there’s a bubble, he stated that “at some point there’s a reset,” adding that using the word bubble implies it’s about to pop, something Wenger believes may or may not happen.
To Wenger, all this irrational exuberance is a good thing for cryptocurrencies in the long run, as it brings investors and entrepreneurs to the space. Since cryptocurrencies are still a novelty, he added, we still need to try new things to see what works.
Earlier this year, USV’s co-founder Fred Wilson dismissed potential bitcoin crash predictions, and explained the optimal cryptocurrency holdings for investors, according to their comfort levels.
Source: https://www.cryptocoinsnews.com/usvs-albert-wenger-cryptocurrency-as-a-whole-will-be-worth-trillions-of-dollars/
I am hoping this will happen. And you know what, it is very much possible! Based on what we are witnessing to date, Bitcoin is valued more and more each passing day because of the increasing demand that seems to be unstoppable. The rate of demand heavily escalated especially when Bitcoin's price is valued more than $10,000. Not only that, the fact that it is now priced more than $11,000 is telling. Hence, with the cap of Bitcoin's supply that cannot match to the demand, Bitcoin's price can reach trillions of dollars.
December 03, 2017, 09:49:13 AM
Whatever the fate of bitcoin was not in the future, we still have a long you will enjoy its benefits. The popularity of bitcoin will rise. Accordingly, the capitalization will increase. It seems to me that a trillion dollars is not the limit. Probably soon bitcoin will be pulled dollars from offshore. There is hidden a lot of money.
December 03, 2017, 08:59:01 AM
It is hard to justify this statement as this is just the starting pf the golden time for Bitcoin . There may be a scenario when this dream figure might be acquired but that is going to need 10x more involvement , trading , investments and fund raising in Bitcoin . I am pretty sure that for the years to come bitcoin will be getting a way more investors then it has now and Bitcoin will be most desirable . At that point maybe Bitcoin as a whole will be valued in Trillion of Dollars.
December 03, 2017, 05:58:40 AM
I think that bitcoin is the invention of big capital and the U.S. government. They want to inflate the bubble to the size of the external debt of the USA and blow it up. If so then bitcoin will survive the capitalization of several trillion dollars. Maybe it will swell to $ 20 trillion but the fact that we are only at the beginning of this journey I'm sure.
December 03, 2017, 05:04:25 AM
The cryptocurrency industry is still in early stages so in that sense I don't think it has hit puberty yet. Most of us who have seen the growth, since March, first hand know that cryptocurrency will be a trillion dollar market sooner or later. The only question is when. As Wenger said "a bubble is only something you can ever figure out in hindsight" but when a bubble finally occurs I think most of us will have a pretty good idea it's happening.
December 03, 2017, 04:50:39 AM
USV’s Albert Wenger: Cryptocurrency as a Whole Will Be Worth Trillions of Dollars
Following bitcoin’s historic march to $10,000 and subsequent volatility, covered by CCN, various prominent Wall Street executives have been weighing in on bitcoin and the cryptocurrency ecosystem in general, showing they aren’t too fond of it. Nobel Prize-Winning economist Joseph Stiglitz recently stated that bitcoin should be “outlawed,” while Goldman Sachs CEO Lloyd Blankfein apparently soured on bitcoin as he stated that it’s a “vehicle to perpetrate fraud.”
However, Union Square Ventures (USV) partner Albert Wenger recently shared his views on the cryptocurrency ecosystem, and made it clear that he feels its current $300 billion market cap is just the beginning of the journey.
While speaking to CNBC, Wenger stated that “a bubble is only something you can ever figure out in hindsight,” and added that he finds it instructive to look at Amazon’s stock chart. The e-commerce giant’s chart, Wenger continued, looks like a “massive upward-sloping curve,” but when we zoom in on it, we can see that in the beginning there was a run-up and big drop-off. To him, the cryptocurrency’s chart will, in the future, be a “very massive run-up.”
As such, it’s possible that the current run-up turns out to be “a blip on that chart.” To him, since the cryptocurrency ecosystem has grown to where it is today, there’s definitely a way for it to do down as well, but there’s also a path for it to reach trillions of dollars. He notably stated:
“And there’s definitely also a path to the future where cryptocurrency as a whole will be worth trillions of dollars. So I believe that there’s a good change cryptocurrencies taken together as a bucket will be worth trillions of dollars.”
Wenger added that he believes we’re still far from that, and that there will be set backs along the way. When asked if he believed cryptocurrencies were going through an “Amazon moment,” he clarified that they’re going through an “exuberant moment.”
Regarding whether or not there’s a bubble, he stated that “at some point there’s a reset,” adding that using the word bubble implies it’s about to pop, something Wenger believes may or may not happen.
To Wenger, all this irrational exuberance is a good thing for cryptocurrencies in the long run, as it brings investors and entrepreneurs to the space. Since cryptocurrencies are still a novelty, he added, we still need to try new things to see what works.
Earlier this year, USV’s co-founder Fred Wilson dismissed potential bitcoin crash predictions, and explained the optimal cryptocurrency holdings for investors, according to their comfort levels.
Source: https://www.cryptocoinsnews.com/usvs-albert-wenger-cryptocurrency-as-a-whole-will-be-worth-trillions-of-dollars/
Following bitcoin’s historic march to $10,000 and subsequent volatility, covered by CCN, various prominent Wall Street executives have been weighing in on bitcoin and the cryptocurrency ecosystem in general, showing they aren’t too fond of it. Nobel Prize-Winning economist Joseph Stiglitz recently stated that bitcoin should be “outlawed,” while Goldman Sachs CEO Lloyd Blankfein apparently soured on bitcoin as he stated that it’s a “vehicle to perpetrate fraud.”
However, Union Square Ventures (USV) partner Albert Wenger recently shared his views on the cryptocurrency ecosystem, and made it clear that he feels its current $300 billion market cap is just the beginning of the journey.
While speaking to CNBC, Wenger stated that “a bubble is only something you can ever figure out in hindsight,” and added that he finds it instructive to look at Amazon’s stock chart. The e-commerce giant’s chart, Wenger continued, looks like a “massive upward-sloping curve,” but when we zoom in on it, we can see that in the beginning there was a run-up and big drop-off. To him, the cryptocurrency’s chart will, in the future, be a “very massive run-up.”
As such, it’s possible that the current run-up turns out to be “a blip on that chart.” To him, since the cryptocurrency ecosystem has grown to where it is today, there’s definitely a way for it to do down as well, but there’s also a path for it to reach trillions of dollars. He notably stated:
“And there’s definitely also a path to the future where cryptocurrency as a whole will be worth trillions of dollars. So I believe that there’s a good change cryptocurrencies taken together as a bucket will be worth trillions of dollars.”
Wenger added that he believes we’re still far from that, and that there will be set backs along the way. When asked if he believed cryptocurrencies were going through an “Amazon moment,” he clarified that they’re going through an “exuberant moment.”
Regarding whether or not there’s a bubble, he stated that “at some point there’s a reset,” adding that using the word bubble implies it’s about to pop, something Wenger believes may or may not happen.
To Wenger, all this irrational exuberance is a good thing for cryptocurrencies in the long run, as it brings investors and entrepreneurs to the space. Since cryptocurrencies are still a novelty, he added, we still need to try new things to see what works.
Earlier this year, USV’s co-founder Fred Wilson dismissed potential bitcoin crash predictions, and explained the optimal cryptocurrency holdings for investors, according to their comfort levels.
Source: https://www.cryptocoinsnews.com/usvs-albert-wenger-cryptocurrency-as-a-whole-will-be-worth-trillions-of-dollars/
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