Market cap of Bitcoin sure is tiny...just sayin'

maker88

sr. member

Activity: 336

Merit: 250

Quote from: Dalmar on October 19, 2014, 11:02:12 AM

Those tech stocks can be bought at legit exchanges, while with bitcoin you have to deal with shady Eastern European and Asian exchanges. Nobody is going to send billions to the likes of btc-e and okcoin.

Comparing bitcoin to tech stocks is futile.

tech stocks would be better compared to stock in bitcoin exchange companies or stock in bit pay or other bitcoin related businesses. bitcoin would be better compared to the internet upon which those tech stocks based their businesses.

FNG

hero member

Activity: 588

Merit: 500

Quote from: ssmc2 on October 19, 2014, 11:44:07 AM

Quote from: Dalmar on October 19, 2014, 11:02:12 AM

Those tech stocks can be bought at legit exchanges, while with bitcoin you have to deal with shady Eastern European and Asian exchanges. Nobody is going to send billions to the likes of btc-e and okcoin.

Comparing bitcoin to tech stocks is futile.

For now...

Foresight pays off. It's extremely irritating to read comments from people who made it to bitcointalk / /r/bitcoin but then cannot envision that the infrastructure. How did you land here? Especially when hundreds of millions of $'s from top name VC's are flowing in this direction.

Anyways..after the approval process you can buy a decent amount from coinbase. $50k a day?..or did they change it back to a week now

ssmc2

legendary

Activity: 2002

Merit: 1040

Quote from: Dalmar on October 19, 2014, 11:02:12 AM

Those tech stocks can be bought at legit exchanges, while with bitcoin you have to deal with shady Eastern European and Asian exchanges. Nobody is going to send billions to the likes of btc-e and okcoin.

Comparing bitcoin to tech stocks is futile.

For now...

Dalmar

hero member

Activity: 1092

Merit: 500

Life is short, practice empathy in your life

Those tech stocks can be bought at legit exchanges, while with bitcoin you have to deal with shady Eastern European and Asian exchanges. Nobody is going to send billions to the likes of btc-e and okcoin.

Comparing bitcoin to tech stocks is futile.

CryptoCarmen

member

Activity: 84

Merit: 10

★Bitin.io★ - Instant Exchange

Quote from: TonyT on October 18, 2014, 02:09:29 AM

Quote from: jubalix on October 17, 2014, 10:58:41 PM

eh there at least 3~5 orders of magnitude left for btc to grow into

3 orders of magnitude is 1000. So if BTC is $400 today it will be worth $400 000 a coin then. Five orders is 100000, so btc will be worth $40,000,000 a coin. Forty million a coin!!! I will be rich with my tenth of a BTC coin holdings!

You are rich already.

FNG

hero member

Activity: 588

Merit: 500

Netflix lost more than bitcoins entire marketcap in a day

2 days ago

cbeast

donator

Activity: 1736

Merit: 1006

Let's talk governance, lipstick, and pigs.

Quote from: TonyT on October 18, 2014, 03:34:33 AM

Quote from: cbeast on October 18, 2014, 02:21:14 AM

Quote from: TonyT on October 18, 2014, 02:09:29 AM

Quote from: jubalix on October 17, 2014, 10:58:41 PM

eh there at least 3~5 orders of magnitude left for btc to grow into

3 orders of magnitude is 1000. So if BTC is $400 today it will be worth $400 000 a coin then. Five orders is 100000, so btc will be worth $40,000,000 a coin. Forty million a coin!!! I will be rich with my tenth of a BTC coin holdings!

Some people think that is rich and some don't. Some people are not happy without many billions. Someday it will be trillions. Besides, he said 3-5, not absolutely 5.

In today's money, 400k a btc --that's three orders of magnitude--is rich by anybody's definition.

Not to them. Besides, with 400k per bitcoin that's only about 5,000,000,000,000 market cap. The Federal Reserve lost and can't account for 3 times that much and nobody cares. That's just not much money.

TonyT

full member

Activity: 210

Merit: 100

Quote from: cbeast on October 18, 2014, 02:21:14 AM

Quote from: TonyT on October 18, 2014, 02:09:29 AM

Quote from: jubalix on October 17, 2014, 10:58:41 PM

eh there at least 3~5 orders of magnitude left for btc to grow into

3 orders of magnitude is 1000. So if BTC is $400 today it will be worth $400 000 a coin then. Five orders is 100000, so btc will be worth $40,000,000 a coin. Forty million a coin!!! I will be rich with my tenth of a BTC coin holdings!

Some people think that is rich and some don't. Some people are not happy without many billions. Someday it will be trillions. Besides, he said 3-5, not absolutely 5.

In today's money, 400k a btc --that's three orders of magnitude--is rich by anybody's definition. However, if we are assuming hyperinflation in the future, then taking about the price of btc is meaningless, since an apple will cost a million dollars and so on.

I myself bought more bitcoin recently...so I can spend it with certain btc merchants that sell products and services I like. I do have some btc for speculation but that's not the only focus for me. Good luck!

XxionxX

sr. member

Activity: 254

Merit: 250

Digital money you say?

Quote from: chopstick on October 17, 2014, 11:53:55 AM

Quote from: N12 on October 17, 2014, 11:50:18 AM

Facebook market cap is in the hundreds of billions, not tens of billions.

Then that would put bitcoin at like 10K+ per coin. Ridiculous

So does this start to affect the global currency market at this point? Would anyone happen to have any running theories?

cbeast

donator

Activity: 1736

Merit: 1006

Let's talk governance, lipstick, and pigs.

Quote from: TonyT on October 18, 2014, 02:09:29 AM

Quote from: jubalix on October 17, 2014, 10:58:41 PM

eh there at least 3~5 orders of magnitude left for btc to grow into

3 orders of magnitude is 1000. So if BTC is $400 today it will be worth $400 000 a coin then. Five orders is 100000, so btc will be worth $40,000,000 a coin. Forty million a coin!!! I will be rich with my tenth of a BTC coin holdings!

Some people think that is rich and some don't. Some people are not happy without many billions. Someday it will be trillions. Besides, he said 3-5, not absolutely 5.

TonyT

full member

Activity: 210

Merit: 100

Quote from: jubalix on October 17, 2014, 10:58:41 PM

eh there at least 3~5 orders of magnitude left for btc to grow into

3 orders of magnitude is 1000. So if BTC is $400 today it will be worth $400 000 a coin then. Five orders is 100000, so btc will be worth $40,000,000 a coin. Forty million a coin!!! I will be rich with my tenth of a BTC coin holdings!

jubalix

legendary

Activity: 2618

Merit: 1022

eh there at least 3~5 orders of magnitude left for btc to grow into

CyberSuzy

member

Activity: 70

Merit: 10

When you buy worthy things there is just not enough satoshies. You can pay with LTC the rest then.

wilth1

member

Activity: 63

Merit: 10

200x seems reasonable for stable "currency"

yayayo

legendary

Activity: 1806

Merit: 1024

Quote from: ElectricMucus on October 17, 2014, 12:02:02 PM

Quote from: N12 on October 17, 2014, 11:38:02 AM

There's nothing wrong with that reasoning. Financial markets aren't built on much more than delusions.

Not by that merit, because it's kind of arbitrary. You can argue that the Bitcoin market cap could be higher based on that or even that it should be higher based upon some rational use case, but not that it should be higher based upon the Dr. Evil "One Million Dollars" method of valuation.

Basically you're right. But you should consider that markets can behave irrational to a high degree (not saying that's necessary for Bitcoin to gain value).

Bitcoin has great potential but also high risk. The lower the market cap the better the risk-reward relation. Compared to what's possible (best case: Bitcoin worldwide trade currency) the current market cap is tiny indeed. Everybody has to decide for himself if it's worth to take the risk.

ya.ya.yo!

vipgelsi

legendary

Activity: 1736

Merit: 1001

Billions is a tiny number.

chopstick

legendary

Activity: 992

Merit: 1000

Quote from: ?? on ??

Quote from: chopstick on October 17, 2014, 11:48:58 AM

All supposed "value" is technically made up and arbitrary anyway. Tomorrow we could all decide to use hello kitty plush dolls as currency, drop the dollar, and then $ would be worthless and whoever has the most hello kitty plush dolls wins.

But it won't happen because this is what we are used to.

Sure value is subjective, but we do have some common sense...

We value things that are useful to us, and I don't think Hello Kitty dolls have many useful monetary properties.

One would think these FIAT money/debt notes in our pockets are worthless, but unfortunately that isn't quite the case yet.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: N12 on October 17, 2014, 11:38:02 AM

There's nothing wrong with that reasoning. Financial markets aren't built on much more than delusions.

Not by that merit, because it's kind of arbitrary. You can argue that the Bitcoin market cap could be higher based on that or even that it should be higher based upon some rational use case, but not that it should be higher based upon the Dr. Evil "One Million Dollars" method of valuation.

chopstick

legendary

Activity: 992

Merit: 1000

Quote from: Melbustus on October 17, 2014, 11:53:48 AM

Quote from: chopstick on October 17, 2014, 11:48:58 AM

All supposed "value" is technically made up and arbitrary anyway. Tomorrow we could all decide to use hello kitty plush dolls as currency, drop the dollar, and then $ would be worthless and whoever has the most hello kitty plush dolls wins.

No. Things can be somewhat arbitrary short-term, but usually not long-term. There are actually few things that serve well to reduce the friction of exchange.

Quote from: chopstick on October 17, 2014, 11:48:58 AM

In my opinion Facebook is worthless but it's worth tens of billions. ...

Facebook's market-cap is $196 billion with a PE of 82. You can argue with the PE being too high, but to assert that FB is worthless is just silly. They bring in plenty of net revenue.

Well I did forget about gold.

I meant FB is worthless as a service (IMO), obviously they bring in lots of revenue because there are plenty of people who use them.

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: N12 on October 17, 2014, 11:29:50 AM

True story. WhatsApp, a damn chat program, was sold for 22 billion.

Chat program's cost itself is about zero. Money were paid for 500mil users locked in to using that particular chat program.

But yeah, still valid - there's quite a lot of room for the userbase to grow. Simple tools that I can recommend to my friends as safe wallets are already here, but we also need larger number of applications which are only possible on blockchain. Looking for some very interesting multiparty contracts next year and an OpenBazaar release, among other things.

Topic: Market cap of Bitcoin sure is tiny...just sayin' (Read 2717 times)