It'll be fun when we can officially say that BTC = 1 Jay-Z
And thus, the Jay-Z index was born.
Topic: Bitcoin market cap is now almost... [Apollo moon landing project+Ft. Knox !] - page 3. (Read 8343 times)
March 01, 2013, 04:23:07 PM
March 01, 2013, 03:47:01 PM
So to sum up what this topic discussion is about:
1. What are your thoughts on Bitcoin's current and potential value?
2. Do you think Bitcoin is small?
3. What do we know about the theoretical market capitalization of "corporate/store currencies?" And what are your thoughts on them? For example, Canadian Tire money is practically cash in Canada.
4. Let's let this discussion stray wherever it wants to go. This could be interesting and maybe give some perspective.
1. What are your thoughts on Bitcoin's current and potential value?
2. Do you think Bitcoin is small?
3. What do we know about the theoretical market capitalization of "corporate/store currencies?" And what are your thoughts on them? For example, Canadian Tire money is practically cash in Canada.
4. Let's let this discussion stray wherever it wants to go. This could be interesting and maybe give some perspective.
1. Potential value is huge, current value is great for investing.
2. Yes, BTC is tiny. It's nothing. Just like you said, it's worth less than Jay-Z's net worth an a little bit more than a Jumbo Jet. For a currency, that's absolutely nothing and makes it impossible for any big establishments to consider adopting BTC.
3. Not interested, a different animal altogether.
4. Just want to point out that outside this little bubble of Bitcointalk.org, BTC is still completely unknown to almost everyone. That's why it's still a huge opportunity, even if we crossed the previous all time high this week. Your observations are good examples of how to get a perspective of what Bitcoin is right now.
March 01, 2013, 12:49:55 AM
This would suggest the big players are coming
https://bitcointalksearch.org/topic/coinlab-bringing-bitcoin-to-wall-street-with-mtgox-deal-147336
https://bitcointalksearch.org/topic/coinlab-bringing-bitcoin-to-wall-street-with-mtgox-deal-147336
February 28, 2013, 09:15:00 PM
Also, it's a misnomer that there is a single set of "big players." Wealth is a continuum. At every new level of "market cap" bitcoin reaches, there is a new set of "big players" it becomes interesting to.
Bitcoin is now at the level where it becomes an interesting investment for someone who wants to put a million dollars into it. It is still probably not at the level where players who need to invest $10M or more (medium-sized hedge funds), are really interested. But with another doubling or two, it will become accessible to them.
The biggest players, aside from central banks, are pension funds, who manage tens or hundreds of billions. We will not be seeing them for a long long time. They move as a herd, and they haven't even really begun to move into gold in any significant way (my guess is under 2% of pension assets are in gold), much less the teeny tiny asset that is bitcoin.
But I think it's counterproductive to focus too much on big players. It's all about the grass roots word of mouth, spreading the word as broadly as possible. Because of the network effects of bitcoin, it is much more valuable to have 100 people who want to buy $10k worth than to have 1 person who wants to buy $1M worth. Metcalfe's law says the value of a network is proportional to the square of the number of connected nodes. That means that every new person that becomes a holder/user of bitcoin is more valuable to the ecosystem than the previous user. Not only that, a broader base of owners is much more stable. The person with a single large holding might suddenly decide to sell it all. All 100 smaller holders are very statistically unlikely to do so.
Bitcoin is now at the level where it becomes an interesting investment for someone who wants to put a million dollars into it. It is still probably not at the level where players who need to invest $10M or more (medium-sized hedge funds), are really interested. But with another doubling or two, it will become accessible to them.
The biggest players, aside from central banks, are pension funds, who manage tens or hundreds of billions. We will not be seeing them for a long long time. They move as a herd, and they haven't even really begun to move into gold in any significant way (my guess is under 2% of pension assets are in gold), much less the teeny tiny asset that is bitcoin.
But I think it's counterproductive to focus too much on big players. It's all about the grass roots word of mouth, spreading the word as broadly as possible. Because of the network effects of bitcoin, it is much more valuable to have 100 people who want to buy $10k worth than to have 1 person who wants to buy $1M worth. Metcalfe's law says the value of a network is proportional to the square of the number of connected nodes. That means that every new person that becomes a holder/user of bitcoin is more valuable to the ecosystem than the previous user. Not only that, a broader base of owners is much more stable. The person with a single large holding might suddenly decide to sell it all. All 100 smaller holders are very statistically unlikely to do so.
February 27, 2013, 11:45:54 PM
It's small, and that means we're in for a wild ride. Right now it might be "too small" for the big players to really take notice, but it might be worth it for them to take action when they notice adoption increasing.
But we don't even know what the "big players" will do.
Some of them will simply invest and try to get rich. I.E. just classic bulls trying to jump on the train.
Some of them (i.e. governments, multinationals, etc) would have more of an interest in actually sabotaging Bitcoin, i.e. pumping and dumping, etc.
Then of course there are regulations but BTC is like torrent in that there's really nothing they can do except regulate business and pass laws restricting individual use of BTC, in which case people would still use BTC to store value and sell for fiat for purchases in the same way people still use bittorrent to download movies all the time with a 0.000000001% chance of actually getting caught.
But we don't even know what the "big players" will do.
Some of them will simply invest and try to get rich. I.E. just classic bulls trying to jump on the train.
Some of them (i.e. governments, multinationals, etc) would have more of an interest in actually sabotaging Bitcoin, i.e. pumping and dumping, etc.
Then of course there are regulations but BTC is like torrent in that there's really nothing they can do except regulate business and pass laws restricting individual use of BTC, in which case people would still use BTC to store value and sell for fiat for purchases in the same way people still use bittorrent to download movies all the time with a 0.000000001% chance of actually getting caught.
February 27, 2013, 09:48:13 PM
The Bitcoin market cap is now 77% of Jay-Z's net worth in Nov. 2011 [source:http://xkcd.com/980/huge]
Discuss.
I'll start.
I've never really put it in perspective but damn. Bitcoin is so small. I mean, the market cap of Bitcoin only became worth more than a single airbus A380 just earlier this month.
Putting this in perspective, along with all the newer businesses and bitpay this year... is the value increasing really a surprise?
So to sum up what this topic discussion is about:
1. What are your thoughts on Bitcoin's current and potential value?
2. Do you think Bitcoin is small?
3. What do we know about the theoretical market capitalization of "corporate/store currencies?" And what are your thoughts on them? For example, Canadian Tire money is practically cash in Canada.
4. Let's let this discussion stray wherever it wants to go. This could be interesting and maybe give some perspective.
The following are Nov. 2011 values.
Reached
Next stops:
I'll be looking for interesting stops and updating. I will also come back when these goals are reached. If you get excited and I haven't updated it yet, feel free to give me a pm.
Also, I will only be altering this thread when price goes up, not down. So whatever you see here is the top of the market at some point. I am also going strictly by whatever the largest USD exchange is at the time.
Discuss.
I'll start.
I've never really put it in perspective but damn. Bitcoin is so small. I mean, the market cap of Bitcoin only became worth more than a single airbus A380 just earlier this month.
Putting this in perspective, along with all the newer businesses and bitpay this year... is the value increasing really a surprise?
So to sum up what this topic discussion is about:
1. What are your thoughts on Bitcoin's current and potential value?
2. Do you think Bitcoin is small?
3. What do we know about the theoretical market capitalization of "corporate/store currencies?" And what are your thoughts on them? For example, Canadian Tire money is practically cash in Canada.
4. Let's let this discussion stray wherever it wants to go. This could be interesting and maybe give some perspective.
The following are Nov. 2011 values.
Reached
Code:
March 6, 2013 --> We have now surpassed not only Jay-z, but also:
-Diddy
-one USD per US resident
March 21, 2013-->Mona Lisa Assessed value ($730,660,000)
-economic savings during hurricane irene
March 27, 2013---->1 billion hit
April 2, 2013-------> $10 for every US household ($1,179,180,000)
April 7, 2013-------> Box office revenue of Star Wars, adjusted for inflation ($1,681,000,000)
April 8, 2013-------> Cost to fund wikipedia at current levels for 100 years ($1,850,000,000)
April 8, 2013-------> Total annual tax breaks to the 5 largest oil companies ($2,100,000,000)
April 10, 2013------>B-2 Bomber ($2,500,000,000)
Donald Trump 2011 ($2,700,000,000)
November 6, 2013-->George Lucas 2011 ($3,200,000,000)
November 17, 2013->Bruce Wayne's fortune ($6,500,000,000)
November 17, 2013->Steve Jobs 2011 ($8,300,000,000)
August 6, 2017->Bill Gates 2011 ($56,000,000,000)
December 3, 2017->Apollo moon landing project ($192,000,000,000)
December 6, 2017->Ft. Knox "Gold" Reserves ($245,900,000,000)
Next stops:
Code:
Apple Corporation 2011 ($358,310,000,000)
Combined 1yr profit of fortune 500 ($708,600,000,000)
Total outstanding student loans, 2011 ($955,800,000,000)
I'll be looking for interesting stops and updating. I will also come back when these goals are reached. If you get excited and I haven't updated it yet, feel free to give me a pm.
Also, I will only be altering this thread when price goes up, not down. So whatever you see here is the top of the market at some point. I am also going strictly by whatever the largest USD exchange is at the time.
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