Bitcoin is the fastest asset to hit 1 trillion marketcap - page 5.

Sithara007

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Quote from: icopress on May 24, 2021, 02:53:33 PM

I'm afraid the name of this thread does not correspond to reality ... I think it would be reasonable to change 1 to 3 or 5, (I have reasonable reasons to be optimistic). Even if we do not take into account the growing distrust of fiat currencies, literally in 3 years the obsessive idea of placing capital in Bitcoin will take over the world, (If the idea is reasonable, then it is highly contagious). In addition, humans cannot compete with evolution ... in the sense that cryptocurrencies are a new class of assets, and as this idea spreads, more and more public companies will sympathize with Bitcoin.

Bitcoin is limited ... there isn't even anything to add here considering that the Fed prints thousands of tons of money every year, for this reason, large institutional investors will also mature soon, (the arrival of which, btw, will smooth out the volatility). Even if that's not enough for you, Facebook has finally been able to lobby for the launch of its stablecoin (Diem) and I'm pretty sure Zuckerber will do what PayPal did. Just imagine that two billion people on one platform will have access to Diem, Bitcoin, and etc (if this happens, then Google and Apple will also create their own crypto infrastructure).

Facebook and PayPal have taken diametrically opposite positions while dealing with cryptocurrency. PayPal directly integrated Bitcoin to its platform and made cryptocurrency more accessible to many of its users. On the other hand, the original intention from Facebook was to plagiarize the idea of cryptocurrency (obviously without giving any credit to the person who invented it) and use it for their own benefit. PayPal was going for a mutually beneficial approach, unlike that from Facebook. Now let's see which direction the other companies (Google, Apple.etc) are going to take.

(o)(o)ilikeboobs(o)(o)

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Can only be cryptocurrencies. The value of Bitcoins increases rapidly because of their strong decentralization and ownerless nature. Cryptocurrency projects that come later with owners like Ethereum, Tether, DOGE ... will hardly be able to increase their capitalization as quickly as Bitcoin.

icopress

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I'm afraid the name of this thread does not correspond to reality ... I think it would be reasonable to change 1 to 3 or 5, (I have reasonable reasons to be optimistic). Even if we do not take into account the growing distrust of fiat currencies, literally in 3 years the obsessive idea of placing capital in Bitcoin will take over the world, (If the idea is reasonable, then it is highly contagious). In addition, humans cannot compete with evolution ... in the sense that cryptocurrencies are a new class of assets, and as this idea spreads, more and more public companies will sympathize with Bitcoin.

Bitcoin is limited ... there isn't even anything to add here considering that the Fed prints thousands of tons of money every year, for this reason, large institutional investors will also mature soon, (the arrival of which, btw, will smooth out the volatility). Even if that's not enough for you, Facebook has finally been able to lobby for the launch of its stablecoin (Diem) and I'm pretty sure Zuckerber will do what PayPal did. Just imagine that two billion people on one platform will have access to Diem, Bitcoin, and etc (if this happens, then Google and Apple will also create their own crypto infrastructure).

wxa7115

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Quote from: bitmover on May 23, 2021, 06:09:10 PM

Sharing another interesting infographic from visualcapitalist.com

https://www.visualcapitalist.com/bitcoin-is-the-fastest-asset-to-reach-a-1-trillion-market-cap/

as we can see from the data above, Microsoft took 44 years to reach 1 trillion market cap, while Bitcoin took only 12 years!

Unfortunately, Bitcoin could not sustain such prices for long, and now the total market cap is about 650 billion USD. ( 1 trillion marketcap is about 56K USD)
Anyway, that is an impressive milestone for Bitcoin!

That is impressive but with all fairness to those companies reaching one trillion dollars is way easier now than what it was decades ago, after all a great deal of money was printed last year and this has been true during the last decade as well.

I think a more fair way to compare assets is if we use the average yearly rate of growth of each asset, if bitcoin still comes up as the first place in that kind of graphic then this will be a better way to measure the exceptional growth of bitcoin over other assets.

bitmover

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Quote from: Lucius on May 24, 2021, 09:08:05 AM

Bitcoin, on the other hand, was invented as the "A Peer-to-Peer Electronic Cash System" and later began to position itself as a store of value - which led to it theoretically reaching at least $1 trillion in market cap - which is actually not accurate if we take all those BTC that have been irretrievably lost over the past 12 years.

I think it is an store of value from ~~day 1~~ block genesis.

Take a look at the first block hidden message, by Satoshi Nakamoto:

Quote

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
https://blockchair.com/bitcoin/block/0

this text is a clear mention of the ability, and purpose, of bitcoin to be a store of value. We can see that Satoshi was worried about irresponsible policies of government printing money and sending them to banks, and that one of the Bitcoin purposes is to be an alternative to this traditional financial system.

I agree that Bitcoin is not a company and it is not a straight comparison. But as an asset, we can freely compare GOOG, TSLA, GLD, and BTC.

And based on satoshi message, it was meant to be an store of value.

bryant.coleman

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Quote from: Obito on May 24, 2021, 02:49:46 AM

Well, that's what I said in the last part of my post, that it is a beneficial thing that crypto and bitcoin is a highly volatile investment. With altcoins going down together when there is a correction, it is actually a good thing since people can get in a lot of markets at a lower prices and just sell it when the green days started again.

Yup.. these sort of opportunities occur only once in a while. And this time, the correction was mostly due to the altcoins. Most of the altcoins became hyperinflated and that caused the crash. Obviously there were a few triggers, such as the investigation against Binance, tweets from Elon and the governmental action in China. But if the coins were having fair valuation, then the impact of the correction might have been much milder. Anyway.. long term investors should not care much about these corrections..

DU18

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Quote from: Obito on May 23, 2021, 11:30:25 PM

Bitcoin is also the fastest of them all to lose a billion of all those big tech companies, one big FUD and billions could be wiped out of the market. The speed of growth of bitcoin is a double edged sword because of its inherent volatility that could go upwards or downward spiral in a matter of days or hours which is more of a good than bad since we are able to sort of predict what can happen next.

I don't know what is currently on the mind of the Chinese government, because if we look at the bitcoin cycle from year to year the Chinese government continues to create controversy when the price of bitcoin starts to fall, but from year to year bitcoin continues to experience price increases after a while and This year after Elon Musk's tweet has dropped the bitcoin market and again the Chinese government has banned its citizens from investing in crypto, so that adding to the market's more devastated Cry

buietaw

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Quote from: Obito on May 24, 2021, 02:49:46 AM

Quote from: bryant.coleman on May 24, 2021, 01:47:53 AM

Quote from: Obito on May 23, 2021, 11:30:25 PM

~snip

Volatility can be a double edged sword.. but in the long term, it is always beneficial. Even the correction phases have both advantages and disadvantages. On one hand, less serious investors will dump their coins and make their exit whenever the price crashes. And this ensures that the magnitude of such correction phases will be lower in the future. Also, these correction phases have a much more negative impact on the altcoins. If you check the exchange rates, it can be seen that 99% of the altcoins have gone down in value more than that of Bitcoin.

Well, that's what I said in the last part of my post, that it is a beneficial thing that crypto and bitcoin is a highly volatile investment. With altcoins going down together when there is a correction, it is actually a good thing since people can get in a lot of markets at a lower prices and just sell it when the green days started again.

We don't know which level is lower. So we will never be sure that the price of subcoins is the appropriate point to buy now or any other day. perhaps these prices are the best. maybe the worst Huh

Lucius

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It doesn't make much sense to me to compare companies like Apple or Microsoft with Bitcoin - it's something completely different in its very essence. Companies like all of the above are created and positioned for decades, they thrive according to what product they have and how much demand there is for it.

Bitcoin, on the other hand, was invented as the "A Peer-to-Peer Electronic Cash System" and later began to position itself as a store of value - which led to it theoretically reaching at least $1 trillion in market cap - which is actually not accurate if we take all those BTC that have been irretrievably lost over the past 12 years.

From a profit perspective this is an impressive achievement, but from a daily viewer’s perspective, the difference between big companies and Bitcoin is astronomical - except for those who can live with the fact that their asset loses 50% of its value overnight.

Wexnident

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Well, I'd actually consider the situation back when Bitcoin first started and the speed of technology and stuff like that spreading, compared to when Microsoft first started and the stuff it had to do to actually accumulate and grow. On the other hand, though, Microsoft had something backing it, a company, while Bitcoin is well, just Bitcoin. It reaching that fast, even if it was the current era, seems to speak for itself imo. And is still an achievement at that no matter what.

Quote from: davis196 on May 24, 2021, 07:07:53 AM

What are the revenues and costs of Bitcoin? Grin

~~Mining~~

davis196

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We all know what goods and services Google,Microsoft,Apple and Amazon are producing.
What goods and services is Bitcoin currently producing? Grin

Those companies have revenues and costs.What are the revenues and costs of Bitcoin? Grin

All those stocks,that were issued by those corporations aren't scarce.I'm sure that Google,Microsoft,Apple and Amazon can issue way more stocks,so their price will go down.Bitcoin is way more scarce than stocks.
What the Bitcoin community(with the help of people like Elon Musk) has achieved is great,but should we really compare BTC to stocks?

Obito

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Quote from: bryant.coleman on May 24, 2021, 01:47:53 AM

Quote from: Obito on May 23, 2021, 11:30:25 PM

~snip

Volatility can be a double edged sword.. but in the long term, it is always beneficial. Even the correction phases have both advantages and disadvantages. On one hand, less serious investors will dump their coins and make their exit whenever the price crashes. And this ensures that the magnitude of such correction phases will be lower in the future. Also, these correction phases have a much more negative impact on the altcoins. If you check the exchange rates, it can be seen that 99% of the altcoins have gone down in value more than that of Bitcoin.

Well, that's what I said in the last part of my post, that it is a beneficial thing that crypto and bitcoin is a highly volatile investment. With altcoins going down together when there is a correction, it is actually a good thing since people can get in a lot of markets at a lower prices and just sell it when the green days started again.

goaldigger

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Quote from: Poker Player on May 24, 2021, 02:03:29 AM

Yeah, I've heard Saylor say that countless times. But we have to keep in mind that the more time passes, the more money is printed, so it is easier to reach that figure sooner. Microsoft was founded in 1975. $1B at that time was worth much more than it is now, it is normal that it took much longer than if it had been founded in 2008.

Those are companies who works hard over time and with Bitcoin, we can achieve more if we don't rush things because great things comes in the right time. Bitcoin can't sustain that level for now because of its volatility but surely in the future, we will stay above $1 Trillion and I'm confident that more cryptocurrency will aim for that Marketcap, this market is growing and the current trend is not a big threat to achieve that big goals in the future, we are still on track.

Poker Player

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Yeah, I've heard Saylor say that countless times. But we have to keep in mind that the more time passes, the more money is printed, so it is easier to reach that figure sooner. Microsoft was founded in 1975. $1B at that time was worth much more than it is now, it is normal that it took much longer than if it had been founded in 2008.

bittick

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650 billion USD still impressive tbh, even back then not many people expect it to reach as much as $100 billion actually if you see the chart of its market cap its keep growing year by year despite some pull back due to dumping but it's still going up to another height.
If we take from that maybe in a decade we gonna hit one quadrillion but I wonder if that's gonna be sustainable it's just for example that if people join together those trillion market cap companies are nothing.

bryant.coleman

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Quote from: Obito on May 23, 2021, 11:30:25 PM

Bitcoin is also the fastest of them all to lose a billion of all those big tech companies, one big FUD and billions could be wiped out of the market. The speed of growth of bitcoin is a double edged sword because of its inherent volatility that could go upwards or downward spiral in a matter of days or hours which is more of a good than bad since we are able to sort of predict what can happen next.

Volatility can be a double edged sword.. but in the long term, it is always beneficial. Even the correction phases have both advantages and disadvantages. On one hand, less serious investors will dump their coins and make their exit whenever the price crashes. And this ensures that the magnitude of such correction phases will be lower in the future. Also, these correction phases have a much more negative impact on the altcoins. If you check the exchange rates, it can be seen that 99% of the altcoins have gone down in value more than that of Bitcoin.

Obito

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Bitcoin is also the fastest of them all to lose a billion of all those big tech companies, one big FUD and billions could be wiped out of the market. The speed of growth of bitcoin is a double edged sword because of its inherent volatility that could go upwards or downward spiral in a matter of days or hours which is more of a good than bad since we are able to sort of predict what can happen next.

Darker45

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Impressive indeed! And what made it a lot more impressive is that Bitcoin is existing on its own. It reached a trillion market cap and attracted global attention in so short a time without being ran or managed by an elite executive team, actively marketed or promoted by an experienced PR team, brought into partnerships with popular names in the business world, and so on. It only has itself to offer. Strictly speaking, it is not even offered, because unlike Microsoft, Apple, and the rest, Bitcoin was not actively pursuing supporters, users, and investors. Bitcoin was simply there to be discovered by people in whatever, even serendipitous, ways. It was only lately when Bitcoin started being actively shilled by its supporters.

Zuhaai

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Market value is calculated by multiplying the price of bitcoin by the number created. While not a perfect comparison, the $1 trillion market value would make bitcoin’s value greater than all but a handful of the world’s stocks. Tesla, for instance, has a market cap of around $700 billion, while Apple is valued at more than $2 trillion.

Pro-bitcoin investors and entrepreneurs celebrated the milestone on social media.

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I remember seeing this information as well, I just forgot where. Probably a video. It's great to see this but it would be another thing to see how long it could stay with that amount of marketcap. I think this is one of the reasons why a lot of people tend to stay away with Bitcoin, just because of the volatility. They don't think too much about the long-term too much with cryptocurrencies. Or people are just evolving to want faster gratification with their investments. That instant return with regards to their money.

It's the current trend with technology that makes it want to be fast-paced and I think this could be another pro with crypto when done correctly but we all know there would be people who would profit because of someone else's loss.

Topic: Bitcoin is the fastest asset to hit 1 trillion marketcap - page 5. (Read 793 times)