Bitcoin $1Trillion Market Cap questions

StartupAnalyst

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Quote from: Wenbing on February 17, 2021, 12:19:18 PM

If it takes few months for btc to rise from $15k to 50k it will take less than 1 year for btc to rise to $100k becuase of hat is called the domino effect and the networking effect.
The more institutional investors and pulic companies adopt it, the more it will spread, thereby producing a network and domino effect in a positive way.

Month earlier I was critical to such announcements and believed in good correction but afterwards Tesla and several other whale organizations have bought BTC and my opinion changed a bit. I am still waiting for correction but think it won’t be so huge like some noobs want.
As for capitalization of BTC, it grows in quantum leaps now. At such rate it might reach two trillions till the end of this year.

very_452001

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The 2 most valuable things ever in the universe is the two T's that is Truth & Time.

The truth is the Bitcoin ledger, it cannot be edited or manipulated by someone. Since 12 years ago there's hasn't been 1 transaction mistake in the bitcoin ledger or someone who has fraudulently edited the transaction amount in the btc ledger.

Bitcoin is based on Mathematics fundamentals and for example we can all agree that 2+2=4 with no debate or argument to it from whatever skin colour or religion you are because its the truth and a fact answer that will never change in time.

With Gold for example If I wanted to buy Gold off you and you offered to sell I wont give my money to you straight away because I don't trust you by default hence I get the gold checked and verified to see whether the gold is real not fake before handing my money over to you. Trust is already there in Bitcoin and Time is verifying that trust.

However Time is limited, nothing lasts forever not even Bitcoin. Hence Time is so valuable but without truth theres no time and without time theres no truth.

very_452001

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Quote from: orions.belt19 on February 20, 2021, 01:55:39 AM

Quote from: onecall123 on February 19, 2021, 11:00:49 PM

At last. Welcome to world adoption. Bitcoin broke 1 trillion dollars in market cap and smashes through $56,000USD as well. With great power comes great responsibility as large investors are HODLing, and small investors probably feel more security than anytime before. But, what about correction?

Many early adopters will surely take profit soon and with Bitcoin hitting a milestone like 1 trillion marketcap, a correction won't be too far away I guess. I also don't think that were at the point of world adoption yet. It's not even that popular yet. There's paypal already and I think in the near future Mastercard but world adoption is still far since some countries are even looking into banning it i.e India. 1 trillion marketcap is undoubtedly a remarkable milestone which will only drive more investors into the crypto space.

Governments can ban and make bitcoin illegal but they did the same with drugs but I didn't see the global drug black market going to 0 after governments made drugs illegal.

If governments made drugs legal the price of drugs in the black market will collapse and put all drug dealers out of business.

In fact banning bitcoin will make bitcoins even more expensive as it will migrate to the black market where the risk of being caught transactions will demand a much higher premium like drugs. Banning bitcoin is futile and people will still use it.

The only way For Governments or Central Banks is to kill Bitcoin is shut off the Internet worldwide or somehow borrow a Quantum Computer off Google to bypass the Bitcoin Encryption quickly.

Talking of Quantum Computers who owns them in this world? I hear Google owns one right?

The 2 most valuable things ever in the universe is the two T's that is Truth & Time.

The truth is the Bitcoin ledger, it cannot be edited or manipulated by someone. Since 12 years ago there's hasn't been 1 transaction mistake in the bitcoin ledger or someone who has fraudulently edited the transaction amount in the btc ledger.

Bitcoin is based on Mathematics fundamentals and for example we can all agree that 2+2=4 with no debate or argument to it from whatever skin colour or religion you are because its the truth and a fact answer that will never change in time.

With Gold for example If I wanted to buy Gold off you and you offered to sell I wont give my money to you straight away because I don't trust you by default hence I get the gold checked and verified to see whether the gold is real not fake before handing my money over to you. Trust is already there in Bitcoin and Time is verifying that trust.

However Time is limited, nothing lasts forever not even Bitcoin. Hence Time is so valuable but without truth theres no time and without time theres no truth.

[moderator's note: consecutive posts merged]

orions.belt19

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Quote from: onecall123 on February 19, 2021, 11:00:49 PM

At last. Welcome to world adoption. Bitcoin broke 1 trillion dollars in market cap and smashes through $56,000USD as well. With great power comes great responsibility as large investors are HODLing, and small investors probably feel more security than anytime before. But, what about correction?

Many early adopters will surely take profit soon and with Bitcoin hitting a milestone like 1 trillion marketcap, a correction won't be too far away I guess. I also don't think that were at the point of world adoption yet. It's not even that popular yet. There's paypal already and I think in the near future Mastercard but world adoption is still far since some countries are even looking into banning it i.e India. 1 trillion marketcap is undoubtedly a remarkable milestone which will only drive more investors into the crypto space.

Wayan_Pedjeng

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Quote from: very_452001 on February 19, 2021, 10:00:29 AM

Okay im looking at marketcaps to compare and see where markets can go.

Billionaire Peter Schiff saying gold can go to £3000 per oz but gold market cap now is above $11trillion at around $1700 per oz of gold now. So if Gold doubles in price to $3000 per oz then realistically can gold marketcap double to $22 trillion in a short time frame? I ask because it took gold tens of thousands of years to reach $11trillion marketcap today. If it took so long for gold to reach $11 trillion then why should a marketcap of any market double it in such a short amount of time?

So based on marketcap can bitcoin double its marketcap in short time to $2 trillion resulting in $100k per btc this year?

Realistically I expect gold to touch $5,000 (£3,567) per oz sometime soon. With fiat currencies losing their purchasing power at such a rapid rate, assets such as gold, platinum, silver and Bitcoin would definitely go up in demand. But I am not sure whether the governments will allow that. It may sound draconian now, but the authorities can go for wealth confiscation in order to cover debt repayments (similar to what Cyprus did in 2013)

Cnut237

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Quote from: very_452001 on February 19, 2021, 10:00:29 AM

So based on marketcap can bitcoin double its marketcap in short time to $2 trillion resulting in $100k per btc this year?

Quite possibly. Institutional investment does seem to be the main driver of the current bull run. It may reach a point where people start to think it would be foolish not to have a small bitcoin position.
A 'small' allocation in percentage terms for a growing number of large institutions can have a significant impact on price.

Also 1 trillion to 2 trillion is of course not the same as zero to 1 trillion. If you look at bitcoin price history on a linear scale chart, you learn very little. If you view the data logarithmically, then clear patterns emerge.
Finally, bitcoin is not a company, so there's no sense saying it's "as big as Microsoft" or "as big as Amazon". If bitcoin is a currency, or if bitcoin is a store of value, then 2 trillion is not a problem.

The flip side of all this, of course, is that prices can also fall. Steady increases in general are good, sudden huge increases are much less sustainable.

Sithara007

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What is the next target? $50K level breached.. $1 trillion market cap achieved.. any short term targets remain now? That said, I am a bit worried about the declining Bitcoin dominance. A few months back, we were at 71%. Now the dominance has gone below 61%. And more worryingly, it is the new coins such as Polkadot and Chainlink making the most of the gains. I am OK with the gains made by BNB, because it is one of the few altcoins having real usage.

Last month, we had a brief period of correction, when the prices went down from $41,000 to $31,000. I guess most of the individual investors booked profits at that point. Now the institutions are not going to sell their stash anytime soon (unless the FinCen or the SEC creates some major issue). I don't expect any major correction anytime soon. May be we'll have one after $75K.

onecall123

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At last. Welcome to world adoption. Bitcoin broke 1 trillion dollars in market cap and smashes through $56,000USD as well. With great power comes great responsibility as large investors are HODLing, and small investors probably feel more security than anytime before. But, what about correction?

TimeTeller

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Quote from: very_452001 on February 19, 2021, 06:06:37 PM

Quote from: macson on February 19, 2021, 04:12:52 PM

Quote from: very_452001 on February 17, 2021, 11:47:40 AM

snip

your question is too skeptical....where did the additional funds come from, no one knows, just relax in your seat. bottom line Bitcoin capitalization won't stop at $ 1T, it will continue to increase.

That's a phenomenal achievement for Bitcoin. At this rate it will take no.1 rank on this list very soon! or after the next bear market Grin

:

https://8marketcap.com/

What bitcoin achieved is really overwhelming. Only more than a decade in the market and it is flying high.
And the good thing, the inventor, Satoshi, is nowhere to be found and we have no idea if he is enjoying what he created for humanity.
Those other popular companies in the above list, at least, have their founders or owners known to the public and we know they have good life in terms of financial aspect.
And this is also a testament that a specific invention can go big in the market even if there is no visible leader managing it. That's the beauty of crypto.

very_452001

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Quote from: macson on February 19, 2021, 04:12:52 PM

Quote from: very_452001 on February 17, 2021, 11:47:40 AM

snip

your question is too skeptical....where did the additional funds come from, no one knows, just relax in your seat. bottom line Bitcoin capitalization won't stop at $ 1T, it will continue to increase.

That's a phenomenal achievement for Bitcoin. At this rate it will take no.1 rank on this list very soon! or after the next bear market Grin

:

https://8marketcap.com/

macson

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Quote from: very_452001 on February 17, 2021, 11:47:40 AM

snip

your question is too skeptical....where did the additional funds come from, no one knows, just relax in your seat. bottom line Bitcoin capitalization won't stop at $ 1T, it will continue to increase.

Lucius

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Quote from: very_452001 on February 19, 2021, 10:00:29 AM

So based on marketcap can bitcoin double its marketcap in short time to $2 trillion resulting in $100k per btc this year?

Why not? As others have already explained to you, the BTC market cap is just a product of the price of 1 BTC and the total amount of coins available at that time. Every day approximately 900 new BTC are mined, so the MC increases even if the price stays the same or decreases. If we were to take the example of keeping the price of BTC at current values until the end of the year - and in the next 10 months the circulating supply increases by 270 000 BTC (27 000 per month), it would mean that MC at the end of the year increased by a total of $13.5 billion.

But of course if the price reaches $100k it will also mean that the MC has doubled - which is nothing unrealistic considering how fast the price has increased from $10k to $50k.

very_452001

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Okay im looking at marketcaps to compare and see where markets can go.

Billionaire Peter Schiff saying gold can go to £3000 per oz but gold market cap now is above $11trillion at around $1700 per oz of gold now. So if Gold doubles in price to $3000 per oz then realistically can gold marketcap double to $22 trillion in a short time frame? I ask because it took gold tens of thousands of years to reach $11trillion marketcap today. If it took so long for gold to reach $11 trillion then why should a marketcap of any market double it in such a short amount of time?

So based on marketcap can bitcoin double its marketcap in short time to $2 trillion resulting in $100k per btc this year?

jasonjm

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First, you need to learn a bit about market cap and how it works. Secondly, Bitcoin and Apple are two different entities, one is a form of currency and other is a company so you can not compare both on same dimensions. BTC price might be doubled in a year or may be in few months, you never know. If BTC survived this bull run and maintained its upward trend then I think we will see $2 Trillion sooner than expected.

very_452001

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Apple has issued 17 Billion Shares, which should be enough to go around for everyone in a capitalist environment.

But what I don't understand is why Apple offered stocks splits/fractional shares on top of the issued 17 Billion when there's enough 17 billion shares to begin with and they are affordable Huh

I understand Bitcoin is fractional to 8 decimal places to the lowest 0.00000001 sat because there's limited fixed 21 million enabling any rich or poor person to buy bitcoin.

Berkshire Hathaway owned by that rich dude Warren Buffett only issued 1.59million shares hence each share price there is expensive at over $360k each, it makes sense to offer stock splits/fractional shares for Berkshire Hathaway so retail investors can afford to invest in it as the average retail investor don't have $360k in their back pocket to buy 1 share of Warren Buffet's company.

How many decimal places Dogecoin have and if its 8 like bitcoin then why so much dilution in such a cheap coin that has a unlimited supply similar to Apple Huh

Why don't cheap unlimited supply altcoins have low decimal places like 2 decimal places like the $US dollar? For example $0.01 cent.

Vishnu.Reang

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Quote from: pooya87 on February 18, 2021, 12:48:33 AM

Quote from: very_452001 on February 17, 2021, 11:47:40 AM

Okay it took Bitcoin 12 years to reach up to around $1trillion market cap.
Apple reached $1trillion marketcap in 2018

To put this into context:
Bitcoin was created in 2009 -> 12 years ago
Apple was created in 1976 -> 45 years ago

You are also comparing apples and oranges (no pun intended). Bitcoin is a currency while Apple is a company. You can't even begin to compare the two. In fact market capitalization is not even defined for currencies! The only reason why it is being calculated is because someone a long time ago was looking for a way to rank cryptocurrencie and they couldn't come up with anything easier!

I agree. The current methodology to measure market cap for various cryptocurrencies is deeply flawed. As franky1 has already pointed out, it is very easy to manipulate the market cap numbers. You just need to keep a large portion of the coins away from free-float, in order to inflate the market capitalization. I never look in to market cap while making investment decisions. On the other hand, I look for daily and weekly trade volumes and some of the other parameters such as acceptability.

One classic example is that of Ripple. Until very recently, XRP used to be ranked as the no.3 cryptocurrency in terms of market cap. They managed to inflate the market cap, by keeping most of the coins in cold storage. A handful of the promoters were holding 80% to 90% of all the coins, so it was relatively easy. But when SEC unleashed shitstorm against XRP, this inflated market cap came to no use.

Lorence.xD

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Quote from: pooya87 on February 18, 2021, 12:48:33 AM

To put this into context:
Bitcoin was created in 2009 -> 12 years ago
Apple was created in 1976 -> 45 years ago

Sure Apple was old but the current marketcap of 2 trillion USD was only achieved in 2 years and I think doubling your marketcap at a short amount of time is impressive. But with the current scaling in bitcoin compared with the timeframe that it reached I think that given more years, bitcoin will reach bigger marketcap than Apple. The only reason that Apple has this marketcap is because they have a big market and the notion that owning one of their devices makes you look rich which is good for them because more people will buy their overpriced products that are mediocre at quality.

pooya87

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Quote from: very_452001 on February 17, 2021, 11:47:40 AM

Okay it took Bitcoin 12 years to reach up to around $1trillion market cap.
Apple reached $1trillion marketcap in 2018

To put this into context:
Bitcoin was created in 2009 -> 12 years ago
Apple was created in 1976 -> 45 years ago

You are also comparing apples and oranges (no pun intended). Bitcoin is a currency while Apple is a company. You can't even begin to compare the two. In fact market capitalization is not even defined for currencies! The only reason why it is being calculated is because someone a long time ago was looking for a way to rank cryptocurrencie and they couldn't come up with anything easier!

mk4

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Quote from: very_452001 on February 17, 2021, 12:20:57 PM

Still thinking how did Apple doubled its marketcap in just 2 years Shocked

?

Because Apple is a GREAT business, hence why expectations from investors have always been high. In addition, people in general have been rushing into other assets as the federal reserve keeps printing more and more USD.

Quote from: very_452001 on February 17, 2021, 12:20:57 PM

Sounds like they are using slaves for their labour & increasing prices of their iphones yearly to explain that doubling in marketcap then?

Well, they do have production plants in China, but it's not like they're the only company who has. Products and hardware being made in China isn't really anything new for any business.

Quote from: very_452001 on February 17, 2021, 12:20:57 PM

Apple has about 17 billion shares in circulation compared to bitcoin 21million. This means as of now every man, woman, child & baby on this planet can own about 3 apple shares each worth about $390 now. I even doubt there's enough real fruit apples as of now for every human on this planet let alone 3 apples each as thousands are dying of starvation daily globally and they cost cents each per fruit Sad

Surely there cant be a supply issue between 2018-20 to cause Apple market cap to double right?

Apple's doubling in marketcap has almost nothing to do with it's supply. A stock's total float could always double, triple, or quadruple if the company wants to; through stock splits[1]. It's the simple fact there's very high demand of Apple shares.

[1] https://www.investopedia.com/ask/answers/what-stock-split-why-do-stocks-split/

Kakmakr

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People are obsessed with the "Market Cap" ...as if this is the measure of success of this technology. We do not have to compare ourselves with companies like Apple or Amazon ...because it means nothing. Roll Eyes

We look at Bitcoin adoption and Bitcoin distribution and transaction speed and Bitcoin security to measure the success of this experiment. We could care less about the share price of Apple or Amazon and what their market cap will be, compared to Bitcoin. Wink

Hope you understand that Bitcoin is not meant to be a Commodity, but rather a Currency or alternative payment option to Fiat currencies. Wink

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