The last year has been bad for Bitcoin??? Are you kidding? Fuck the price, the infrastructure being built out is amazing. The VC money is huge. Big time players in tech and finance are getting in. I think I'll follow the big money and visionaries rather than the internet trolls on this board!!
The price right now is an absolute gift to the world. You will look back on these days and realize the writing was on the wall and how in the world did I miss that???
Topic: 3 billion market cap for this tech... (Read 1746 times)
All of you ^^^^^^^^ are DELUDED. Btc has been shown to be a lousy currency and an even lousier store of value. It's going down to ZERO. Don't be a bag-hodler!
$3B is very undervalued IMO, bitcoin and it's blockchain technology are a game changer in the financial and decentralised field of techonlogy. I think that the bitcoin marketcap should be at $50 billion which is more reasonable IMO.
You think a $50 billion market cap is reasonable? How so?
I think you are not realistic and expect too much from Bitcoin in current form. This year was horrible for Bitcoin which is reflected in the price.
what? 50B is still utterly undervalued, real bitcoin value is near the trillion range, and i'm not even joking
and this for bitcoin only, if we can talk about its technology, the blockchain, we must add another value to it
Its undervalued as long people dont get itll stay that way.
Until theres some type of progress of growth of users, to have people to see what it does. For some it can be avoiding waiting in line to get cash to pay a bill.
Others can be used for sending it to a loved one overseas.
But despite all these great things, im selling and im buying back as it slowly goes downward.
Until theres some type of progress of growth of users, to have people to see what it does. For some it can be avoiding waiting in line to get cash to pay a bill.
Others can be used for sending it to a loved one overseas.
But despite all these great things, im selling and im buying back as it slowly goes downward.
$3B is very undervalued IMO, bitcoin and it's blockchain technology are a game changer in the financial and decentralised field of techonlogy. I think that the bitcoin marketcap should be at $50 billion which is more reasonable IMO.
You think a $50 billion market cap is reasonable? How so?
I think you are not realistic and expect too much from Bitcoin in current form. This year was horrible for Bitcoin which is reflected in the price.
$3B is very undervalued IMO, bitcoin and it's blockchain technology are a game changer in the financial and decentralised field of techonlogy. I think that the bitcoin marketcap should be at $50 billion which is more reasonable IMO.
I agree with you OP. $3bn is so ridiculously tiny. Buying bitcoins feels like buying winning lottery tickets.
Think about how many thousands of companies there are that you've never heard of which have a market cap above this. They are all valued above a currency that has a very real chance of becoming the most used currency of the planet AND as a store of value on par with gold.
As a completely arbitrary example, Severn Trent is a water company that serves a small area in England. It is valued at approx 2x the market cap of bitcoin. It has 8000 employees. Yet the market thinks this dinky little company has just as much future value as bitcoin? Wtf m8.
"Buying bitcoins feels like buying winning lottery tickets. " That's is exactly what is is, a perfect analogy to explain how does it feel buying sub 1XXX BTC right now. Too bad (for them) that most people don't have the vision. Think about how many thousands of companies there are that you've never heard of which have a market cap above this. They are all valued above a currency that has a very real chance of becoming the most used currency of the planet AND as a store of value on par with gold.
As a completely arbitrary example, Severn Trent is a water company that serves a small area in England. It is valued at approx 2x the market cap of bitcoin. It has 8000 employees. Yet the market thinks this dinky little company has just as much future value as bitcoin? Wtf m8.
there's small biotech companies that will never get a drug to market and are burning cash like crazy valued at six billion dollars.
I agree with you OP. $3bn is so ridiculously tiny. Buying bitcoins feels like buying winning lottery tickets.
Think about how many thousands of companies there are that you've never heard of which have a market cap above this. They are all valued above a currency that has a very real chance of becoming the most used currency of the planet AND as a store of value on par with gold.
As a completely arbitrary example, Severn Trent is a water company that serves a small area in England. It is valued at approx 2x the market cap of bitcoin. It has 8000 employees. Yet the market thinks this dinky little company has just as much future value as bitcoin? Wtf m8.
Think about how many thousands of companies there are that you've never heard of which have a market cap above this. They are all valued above a currency that has a very real chance of becoming the most used currency of the planet AND as a store of value on par with gold.
As a completely arbitrary example, Severn Trent is a water company that serves a small area in England. It is valued at approx 2x the market cap of bitcoin. It has 8000 employees. Yet the market thinks this dinky little company has just as much future value as bitcoin? Wtf m8.
no, the value of the blockchain itself is 0, because it can be easily replicated. So the value is in the network effects, or the people using the particular blockchain. And at this point, I don't think 3 billion is under valued. Could be overvalued by quite a bit, actually. But I do think eventually when there are more uses for blockchains for the average person, the no. of people will increase exponentially and by that time, the price will increase.
There's no blockchain without Bitcoin, don't get fooled. Bitcoin mining is the strongest network on earth, even if you combined world's earths super computers against Bitcoin it wouldn't match up the computing power. Look at the facts.Uber is 4 billion for god's sake. Bitcoin will be on the trillions in the next decade, see you there buddy.
See how ridiculous that claim is? Please stop regurgitating logical fallacies and read (and think).
Its a shame though, cause despite the tech which I also appreciate and another reason I invested.
People are selling their coins left and right, due to the recent prices rumoring double digits. I think if anything, the blockchain is more valuable since its been a public ledger if a company can do this in their own version then I understand.
It's just the whales wanting to eat tons of BTC because they got left over (when I say whales I say traditional tech industries and wall street, not necessarly individual BTC whales). The manipulation these days is insane.People are selling their coins left and right, due to the recent prices rumoring double digits. I think if anything, the blockchain is more valuable since its been a public ledger if a company can do this in their own version then I understand.
Sounds about right though. Prices can be done by the daily stolen coins, whales, miners hoarding (ceize operations: example - cex) all those things can happen.
This is what I think, its a stupid idea but a possible one. If you were rich, and your good buddy was rich as well. He wanted to get involved into bitcoin for cheap, you decide to do something for him like dumping certain amount coins for a cost favor.
Or am I just overthinking it? I only state this, because the rich are always tied together. Nothing against the rich or anything, heck my old buddy is one of them.
Its a shame though, cause despite the tech which I also appreciate and another reason I invested.
People are selling their coins left and right, due to the recent prices rumoring double digits. I think if anything, the blockchain is more valuable since its been a public ledger if a company can do this in their own version then I understand.
It's just the whales wanting to eat tons of BTC because they got left over (when I say whales I say traditional tech industries and wall street, not necessarly individual BTC whales). The manipulation these days is insane. People are selling their coins left and right, due to the recent prices rumoring double digits. I think if anything, the blockchain is more valuable since its been a public ledger if a company can do this in their own version then I understand.
Its a shame though, cause despite the tech which I also appreciate and another reason I invested.
People are selling their coins left and right, due to the recent prices rumoring double digits. I think if anything, the blockchain is more valuable since its been a public ledger if a company can do this in their own version then I understand.
People are selling their coins left and right, due to the recent prices rumoring double digits. I think if anything, the blockchain is more valuable since its been a public ledger if a company can do this in their own version then I understand.
no, the value of the blockchain itself is 0, because it can be easily replicated. So the value is in the network effects, or the people using the particular blockchain. And at this point, I don't think 3 billion is under valued. Could be overvalued by quite a bit, actually. But I do think eventually when there are more uses for blockchains for the average person, the no. of people will increase exponentially and by that time, the price will increase.
There's no blockchain without Bitcoin, don't get fooled. Bitcoin mining is the strongest network on earth, even if you combined world's earths super computers against Bitcoin it wouldn't match up the computing power. Look at the facts.Uber is 4 billion for god's sake. Bitcoin will be on the trillions in the next decade, see you there buddy.
Current market cap might seem low to certain people, but it's not. Demand have been decreasing quite a bit last few months/weeks.
But all that is just temporary, demand will go back to more healthy levels once we get the halving to happen in 2016.
There are just not enough takers at the moment as there is barely fresh fiat being pumped in Bitcion lately.
But all that is just temporary, demand will go back to more healthy levels once we get the halving to happen in 2016.
There are just not enough takers at the moment as there is barely fresh fiat being pumped in Bitcion lately.
no, the value of the blockchain itself is 0, because it can be easily replicated. So the value is in the network effects, or the people using the particular blockchain.
You cannot replicate the hash rate, therefore you cannot replicate the blockchain. All chains will have different security profiles based on hash rate. No chain will be equal to another. "The blockchain can easily be replicated" is another myth of bitcoin.
It's the same with uber, facebook, and whatever else. They're valuable because people use it. The actual "technology" is not difficult to replicate. Learn to read, man.
Bitcoin is the most secure asset bar none. It is unique. The problem is nobody uses its security features properly.
Nobody? I know plenty of people that take their security precautions really really seriously.And i agree that this market cap is undervalued and should be ATLEAST 10x that summ!
I don't think he meant the individuals but the businesses that can gain a lot from using it.
No no no no no no no no no no.. NO NO JUST NO.
He is referring to this EXACTLY... individuals putting their wealth in exchanges expecting them to keep it safe... You might as well just light your money on fire, send your bitcoins to an address with an unknown private key.
Bitcoin gives YOU the ability to secure your bitcoins... WHen you "put" your bitcoins on exchange you are not "putting" them there at all. You are GIVING them to the exchange and they are giving your a promise you will get them when you ask for them... That is exactly what our current banking system does... The entire point of bitcoin is to stop this.........
DO NOT PUT YOUR WEALTH IN OTHER PEOPLES HANDS...
BITCOIN GIVES YOU THE ABILITY TO SECURE YOUR BITCOINS 99%(That 1% is they torture you for your private key, if you think this wouldn't happen you need to wake up to the world you live in).
So one last time... DO NOT GIVE YOUR BITCOINS TO OTHER PEOPLE TO SECURE....
If you can't be bothered to learn............. you've spent over 10 000 hours in school and you won't spend 20 on learning how to secure your wealth.. you deserve to have nothing.
Bitcoin is the most secure asset bar none. It is unique. The problem is nobody uses its security features properly.
Nobody? I know plenty of people that take their security precautions really really seriously.And i agree that this market cap is undervalued and should be ATLEAST 10x that summ!
I don't think he meant the individuals but the businesses that can gain a lot from using it.
) Bitcoin is the most secure asset bar none. It is unique. The problem is nobody uses its security features properly.
This is quite true.
no, the value of the blockchain itself is 0, because it can be easily replicated. So the value is in the network effects, or the people using the particular blockchain.
You cannot replicate the hash rate, therefore you cannot replicate the blockchain. All chains will have different security profiles based on hash rate. No chain will be equal to another. "The blockchain can easily be replicated" is another myth of bitcoin.
A weaker but related meat-space fact:
some of us will never support a different ledger. I'm all for alts but if you don't start by forking Bitcoin's blockchain and have an alt superior enough that I would want to support it, then I will just support the first Bitcoin's blockchain fork that implements that alt.
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