*Will update thread title periodically*
Are you seriously gonna update the title every block
Ermahgah. Light bulb. We need an app like btc-priceimg for this!
Topic: The Magic Number is $756.01 US (Read 4209 times)
We'll reach the 10 billion market cap but I'm not sure when, probably after the halving. Surely we can't reach 700 before?
that was for 2014, right now we need BTC @ us$645 to reach 10B market cap, that will for sure happen any time now( next week!).
highest market cap ever reached was $13.9 billion
we're getting petty close to crush that.
We would need a 50% appreciation to reach that level.
I wouldn't call that pretty close.
I do believe that we will eventually get there..
We'll reach the 10 billion market cap but I'm not sure when, probably after the halving. Surely we can't reach 700 before?
that was for 2014, right now we need BTC @ us$645 to reach 10B market cap, that will for sure happen any time now( next week!).
highest market cap ever reached was $13.9 billion
we're getting petty close to crush that.
We'll reach the 10 billion market cap but I'm not sure when, probably after the halving. Surely we can't reach 700 before?
that was for 2014, right now we need BTC @ us$645 to reach 10B market cap, that will for sure happen any time now( next week!).
We'll reach the 10 billion market cap but I'm not sure when, probably after the halving. Surely we can't reach 700 before?
Well, you're right, and that number continues to grow, even at this time the price was higher. I guess the price of bitcoin will not cease to accrue for now, I do not know what happened but it was really good
Instead of tracking a 10B market cap, you could track something like the market cap of various tech and money transfer companies. You should also use all 21 million coins in your magic number, since people already know they will exist and the market has theoretically already corrected for their presence.
Market Cap = 1 BTC price
MoneyGram = $36
Western Union = $440
Twitter = $1,380
GLD ETF = $1,538
SPY ETF = $8,231
Facebook = $9,517
Apple = $29,454
Market Cap = 1 BTC price
MoneyGram = $36
Western Union = $440
Twitter = $1,380
GLD ETF = $1,538
SPY ETF = $8,231
Facebook = $9,517
Apple = $29,454
Gold = $352,525
Tax haven bank accounts = $1,428,571 (Source: RunToGold.com)
there's that much money in tax haven bank accounts?
never knew.
just to be clear, that's just money sitting in the bank right, not invested or anything, liquid cash?
Wow, nice thread. I really like the idea of keeping track how much progress we still have to make till we get to that magical $10 billion market cap. I'm sure it's going to be very soon
@Ognasty love the idea. The comparison should be interesting.
@Ognasty love the idea. The comparison should be interesting.
The title depicts what the exchange rate needs to be for Bitcoin to have a market cap of $10B.
Calculated: $10,000,000,000/13,227,375 BTC = $756.01 US
I'll update the thread's title periodically.
~Bruno Kucinskas
Calculated: $10,000,000,000/13,227,375 BTC = $756.01 US
I'll update the thread's title periodically.
~Bruno Kucinskas
The magic number is $640, and we seem to be getting there.
Instead of tracking a 10B market cap, you could track something like the market cap of various tech and money transfer companies. You should also use all 21 million coins in your magic number, since people already know they will exist and the market has theoretically already corrected for their presence.
Market Cap = 1 BTC price
MoneyGram = $36
Western Union = $440
Twitter = $1,380
GLD ETF = $1,538
SPY ETF = $8,231
Facebook = $9,517
Apple = $29,454
Market Cap = 1 BTC price
MoneyGram = $36
Western Union = $440
Twitter = $1,380
GLD ETF = $1,538
SPY ETF = $8,231
Facebook = $9,517
Apple = $29,454
Gold = $352,525
Tax haven bank accounts = $1,428,571 (Source: RunToGold.com)
I love both of these posts. The first considers Bitcoin as a technology and/or service and the second as money.
I think this is part of the problem with bitcoin. Is it money, is a service, is a platform, and ecosystem? Well...... the answer is it is all of these things, but the trick is to understand where it will draw its underlying value.
What about the number of pirates? It has been shown to be statistically correlated to the price of various commodities... perhaps we should all start drinking grog.
10 billion dollar market cap is pretty low for me!
Makes no sense whatsoever
I actually predict a further drop in the price over December, when hoarders start buying Xmas gifts and exchanges are flooded with more coins. 
Only thing that would stop that from happening, is if many more new consumers start to switch to BTC increasing the demand.
Only thing that would stop that from happening, is if many more new consumers start to switch to BTC increasing the demand.
Ok I got the magic number but when we will reach again that price?
October 12th 2014
Nice, but I say december 12th 2014
And would any of you say why? Anyone can throw out dates like that, but is there anything happening around that time that would give you the idea bitcoin is going up?
I guess this is just speculation. I believe that BTC price will fall around December and just before as people start cashing out for the festive season. Expect a surge in prices only post the holiday season IMO.
We need to be patient and hold fort, post the holiday season, i see the price climbing and going up higher around March due to salary increments which are due round about then. My 2 satoshi!
In 2011, there was a big pump from the middle of November through the middle of January. In 2012, there was a good upswing in November, then it was flat through December, then started to shoot to the moon the first week of January. In 2013, it actually shot up all the way to the current ATH by November 30th, then started to slide in December. So, I really see no historical evidence from the last three years that definitively backs up the idea of people "cashing out for the festive season".
Ok I got the magic number but when we will reach again that price?
October 12th 2014
Nice, but I say december 12th 2014
And would any of you say why? Anyone can throw out dates like that, but is there anything happening around that time that would give you the idea bitcoin is going up?
I guess this is just speculation. I believe that BTC price will fall around December and just before as people start cashing out for the festive season. Expect a surge in prices only post the holiday season IMO.
We need to be patient and hold fort, post the holiday season, i see the price climbing and going up higher around March due to salary increments which are due round about then. My 2 satoshi!
Ok I got the magic number but when we will reach again that price?
October 12th 2014
Nice, but I say december 12th 2014
And would any of you say why? Anyone can throw out dates like that, but is there anything happening around that time that would give you the idea bitcoin is going up?
Ok I got the magic number but when we will reach again that price?
October 12th 2014
Nice, but I say december 12th 2014
According to coinmarketcap.com, the peak was $13,581,426,363.75.
$13,581,426,363.75 / 13,227,375 = $1026.77
$13,581,426,363.75 / 13,227,375 = $1026.77
Don't forget a lot of the coin has gone missing and lost and the total supply of btc will be mined in just a few years.
Not the total supply of bitcoins, but at least the majority of them. If nothing changes in the code, I think all the coins should only be mined by around 2140.
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