Topic: Bitcoin market cap is now almost... [Apollo moon landing project+Ft. Knox !] (Read 8343 times)

I have updated the list a bit and would like to apologize for missing the moon landing on December 3rd! I'm not really active on bitcointalk anymore but we have been in recent need of an update.

Holy shit, what a day.

George Lucas could now sell all his USD (from 2011) and buy all XBT in existence, if none were lost and all were being sold.

On the bright side at least we beat JZ. Unfortunately, we still don't run this town.

Things are starting to heat up again. Now I also need to decide if I should keep following the MTGOX price, which places us a mere $1.4M from the $27M we surpassed before.

B2 Bomber and Donald Trump reached! Almost hit 3 Billion but then we crashed to under a billion. Looks like I will have more time to find interesting things on that chart.

Try actually reading the original post. I am not responsible for any faulty information from Randall Munroe.

I will not be taking any prices from anywhere except the referenced chart.

I dunno, I think most large holders would have cashed in 30-50% of their coins by now.

yes but no one who understands bitcoin cashes out of bitcoin, if they do, the coins go to stonger hands, then don't get chased out until full market penetration is reached THEN it becomes a currency for trade...

genius really

great post.

Virtual market cap is a virtual number, one that cannot be translated into real cash.

Say I start a great company, with 100 million shares. I get investers, make profit and after a while the company is worth $100 million.

I hold 99% of the shares and IPO the 1%. After a while they trade for $100 each. That would make my 99% be worth 9.9 billions. However, it's a purely virtual market cap. As soon as I try to cash out a few percent of those shares, it would crash the market since it only has a real market cap of $100 million. You just can't make 10 billion out of 100 million just by saying it is worth that or force it by scarcity. It will never work, any significant selling will drop the price back to its real value of $1 per share.

Bitcoin has exactly the same problem. There are 11 million coins, hoarded by many early adopters. But only 1% of coins are actively traded, maybe 20 million has flowed into the bitcoin market lately by naive gamblers buying coins for $100+ the last few weeks.

If it appears a peak is reached and the price drops a bit, everyone that hoards will try to cash in. But before even 5% of people manage to sell, the price will have dropped like a rock. It's impossible all 11 million coins are cashable, its real market cap just isn't big enough.

where'd you get that figure? there's no gold in Ft. Knox.

Humor works best on false premises and exaggerations.

You do know that the paradox you linked to is a paradox because it's false?  It wasn't until the advent of Algebra that it was able to be mathematically proven false (it's obviously false in real life).  Distance = Rate x Time.  Setting a system of two equations for both racers, it's easy to calculate who wins, and at what point Achilles overtakes the tortoise.

Now at the same level as the total annual tax breaks to the 5 largest oil companies (2011)

Cost to fund wikipedia for 100 years reached. Maybe I should start thinking about making the targets further apart? 

Its still early days.

I started following BTC in late 2010, and there were probably only a few hundred users.

If I'm reading blockchain.info right, there's only a few tens of thousands of users right now.

Give it another ten years...

Box office revenue of Star Wars, adjusted for inflation.

^yeah eh?

We just hit enough for $10 for every US household.

Quote this every time someone thinks Bitcoin is growing too fast, it's not growing fast enough.