Parity watch -> Who's next? - page 17.

caveden

legendary

Activity: 1106

Merit: 1004

Quote from: KTE on March 28, 2013, 04:37:57 AM

ceveden, Bitcoin's M0 is also its M1, M2 and M3.

I know, read my first post in this thread.

But countries M0s are not the same as their M1. It would be more reasonable to compare with their M0, since the day Bitcoin start to have fiduciary money, it will have aggregates that are larger than this so-called "market cap". And btw, if you compare with M0, we've already passed much more countries, since M0 <= M1. Wink

I did not find a ranking of countries per M0 TDV though....

BTC Books

member

Activity: 84

Merit: 10

Quote from: ?? on ??

we could write a few nigerian letters meanwhile

Hello Friend:

I am the exiled Prince Vladimir, last of the Romanoff's. I am in dire need of your help in getting my Bitcoin fortune out of Nigeria, where I am kept under house arrest with only my dog and my internet connection. If I could send you all of my Bitcoins - asking only a small amount from you as testament to your good faith...

Bowjob

sr. member

Activity: 294

Merit: 250

I want parity watch -> the world

BTC Books

member

Activity: 84

Merit: 10

Quote from: ?? on ??

from Democratic Republic of Congo we are traveling to Niger...

Let's move on to Cambodia, shall we?

That water doesn't look inviting.

oakpacific

hero member

Activity: 784

Merit: 1000

Just a quick note: We're on parity with the Democratic Republic of Congo, which is somehow not what the word "Congo" is traditionally used to refer to in the international politics(that would be the Republic of Congo), in fact it was known as Zaire about a decade ago, maybe we should somehow distinguish between the two.

KTE

member

Activity: 69

Merit: 10

ceveden, Bitcoin's M0 is also its M1, M2 and M3.

Ozymandias

sr. member

Activity: 644

Merit: 250

Congo parity achieved!

caveden

legendary

Activity: 1106

Merit: 1004

Quote from: Stephen Gornick on March 27, 2013, 03:37:32 PM

It is the TDV that is approaching (and then exceeding) the TDV of these foreign currencies named in this thread.

My point is that this thread is comparing Bitcoin's M0 TDV with these countries M1 TDV. Comparing against countries M0 would be more coherent (and would make the list much larger Wink

). But I did not find a ranking of countries per M0....

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: caveden on March 27, 2013, 02:11:45 PM

So I'd say it's more reasonable to compare it with countries' M0 (also called monetary base).

From another thread:

Quote from: contactluis on March 25, 2013, 01:47:45 AM

Monetary base for Bitcoins is 10.9 million BTC. The monetary base for Bitcoins has to be denominated in BTC, not dollars.

Bitcoin has no "market cap" since it is an asset, not a security that has been capitalized.

The Total Dollar Valuation (TDV) is the purchasing power equivalent of those 10.9 million BTC.

It is the TDV that is approaching (and then exceeding) the TDV of these foreign currencies named in this thread.

TDV isn't a commonly used phrase, but market cap and M0 are. Doesn't make it the correct term to use though.

caveden

legendary

Activity: 1106

Merit: 1004

Cool thread!

But why M1? Why not M0, since in Bitcoin there's no fractional reserve banking (Bitcoin M0 == M1). I think it's more reasonable... The "market cap" is the Bitcoin's monetary base times its unit price.
EDIT: The point I'm trying to make is that, currently, for Bitcoin, M0==M1==M2==M3, i.e., Bitcoin has no monetary aggregates since it has no fiduciary money. But if one day Bitcoin start having some fiduciary money, the so called "market cap" (number of issued coins X price) would represent Bitcoin's M0, not its M1. So I'd say it's more reasonable to compare it with countries' M0 (also called monetary base).

Bitcoin's M0 is already larger than that of Iceland and certainly many others.

cypherdoc

legendary

Activity: 1764

Merit: 1002