Topic: bitcoin market cap: $50 million (Read 4550 times)
Lets let this topic dead and we bump this thread again after it hits 1 TRILLION...
I’m still not comfortable with this kind of price increase. Don’t you think this will reverse before it reaches 100 million?
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
Yeah, up to 266 again, and then drop immediately to 40
Should probably lock this thread -- my bad haha.
For The Record The Current Market Cap of Bitcoin = $1,495,783,885 USD !
I’m still not comfortable with this kind of price increase. Don’t you think this will reverse before it reaches 100 million?
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
I remember when it wasn't even a billion. Anyway, it’s an impressing number. I remember when that wasn’t even a million …
I’m still not comfortable with this kind of price increase. Don’t you think this will reverse before it reaches 100 million?
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
It's showing its success considering it wasn't even a million. Although, if it holds is a different story.
So I know it's a faux pas to bring a thread this old back from the dead...but it's for pure nostalgia/entertainment purposes. The market cap is about thirty times higher today...but similar posts continue to pop up daily.
Closing in on a $100 mil economy.
The term "market cap" is generally used when referring to equities. With bitcoin the number of bitcoins issued is the "money stock" so multiplying the money stock times the current BTC/USD market exchange rate gives a number but I'm not sure what is the correct term for that number. Is it "currency valuation"? Weath? Purchasing Power?
It definitely isn't "economy". If 100% of bitcoins were acquired and never traded, there could be a high valuation (BTCs issued X exchange rate) but a zero economy.
Perhaps "Purchasing Power equivalent" is the correct term.
http://en.wikipedia.org/wiki/Purchasing_power
In other words, at the BTC/USD market exchange rate of $8.50 can we say the purchasing power of 1 BTC is equivalent to that of $8.50 USD. So the money stock of 6.2 million BTCs times $8.50 gives bitcoin the purchasing power of $52.7 million
Of course the purchasing power is only valid for a specific point in time. The reason I'm not sure that referring to it as purchasing power would be best is because there needn't be any bitcoins to change hands for the purchasing power to rise or fall.
Maybe "Current Purchasing Power" is the best way to describe this $52.7 million number?
[Edit: It was suggested in another thread that TDV (Total Dollar Valuation) is the best way to describe what is sometimes referred to as Bitcoin's "market cap".]
Are you guys saying that there could be day, when BTC returns to being like less than $2?
I’m still not comfortable with this kind of price increase. Don’t you think this will reverse before it reaches 100 million?
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
It's fucking insanity for sure, but we don't know if the price of bitcoin will hold?
I’m still not comfortable with this kind of price increase. Don’t you think this will reverse before it reaches 100 million?
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
Anyway, it’s an impressing number. I remember when that wasn’t even a million …
Current bitcoin market cap, according to bitcoinwatch is 52,698,450 USD.
Closing in on a $100 mil economy.
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