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Topic: The more you know... (Read 1275 times)

legendary
Activity: 1134
Merit: 1000
October 14, 2015, 08:39:53 AM
#22
Firstly can you explain better what does it mean this sentence: "can absorb complete index of over 160 world's currencies (including IMF conversion notes), and do this four times."

Sorry but my knowledges don't allow me to understand the real meaning of this phrase and what mean (the importance of) this meaning for the bitcoin.

Then it will be better if you give the source of this news. This can give to much info about its importance. This list is an list made by you yourself, by an institution, it is a formal list published in some financial place or site, or is a list made from some organization which have to do with bitcoin? Or what? Then, even maybe everyone of us who are in this forum might not like this, this list doesn't mean that bitcoin is known or is used in all those countries. I bet in this. All the currencies are connected (changed) with each other and it is not hard to create a such lists and to publish those using the rates of the change between all those. I think that are other data those who can give an real and right idea about the importance and the power that bitcoin have in each of those countries.


Not really news - just some raw statistics.
If you convert each unit of all world's currencies to USD you will get around $56 in total which is around 1/4 - 1/5 of recent BTC exchange rate. 
I used XE currency data conversion here: http://www.xe.com/currencytables/?from=USD&date=2015-10-14

Good. Now everything is clear for me. Is a list made from you. A very good initiative which give an idea about the value of bitcoin in every world currency (or almost if not all). It is impressively the value of bitcoin even this is well known but every person which know bitcoin. The only thing that needed nor for the bitcoin it is its regulation and its value will have legality; this mean that its value can be increased more and more.
hero member
Activity: 605
Merit: 500
October 14, 2015, 08:15:47 AM
#21
Firstly can you explain better what does it mean this sentence: "can absorb complete index of over 160 world's currencies (including IMF conversion notes), and do this four times."

Sorry but my knowledges don't allow me to understand the real meaning of this phrase and what mean (the importance of) this meaning for the bitcoin.

Then it will be better if you give the source of this news. This can give to much info about its importance. This list is an list made by you yourself, by an institution, it is a formal list published in some financial place or site, or is a list made from some organization which have to do with bitcoin? Or what? Then, even maybe everyone of us who are in this forum might not like this, this list doesn't mean that bitcoin is known or is used in all those countries. I bet in this. All the currencies are connected (changed) with each other and it is not hard to create a such lists and to publish those using the rates of the change between all those. I think that are other data those who can give an real and right idea about the importance and the power that bitcoin have in each of those countries.


Not really news - just some raw statistics.
If you convert each unit of all world's currencies to USD you will get around $56 in total which is around 1/4 - 1/5 of recent BTC exchange rate. 
I used XE currency data conversion here: http://www.xe.com/currencytables/?from=USD&date=2015-10-14
legendary
Activity: 1134
Merit: 1000
October 14, 2015, 02:33:09 AM
#20
Firstly can you explain better what does it mean this sentence: "can absorb complete index of over 160 world's currencies (including IMF conversion notes), and do this four times."

Sorry but my knowledges don't allow me to understand the real meaning of this phrase and what mean (the importance of) this meaning for the bitcoin.

Then it will be better if you give the source of this news. This can give to much info about its importance. This list is an list made by you yourself, by an institution, it is a formal list published in some financial place or site, or is a list made from some organization which have to do with bitcoin? Or what? Then, even maybe everyone of us who are in this forum might not like this, this list doesn't mean that bitcoin is known or is used in all those countries. I bet in this. All the currencies are connected (changed) with each other and it is not hard to create a such lists and to publish those using the rates of the change between all those. I think that are other data those who can give an real and right idea about the importance and the power that bitcoin have in each of those countries.
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
October 14, 2015, 02:02:02 AM
#19
Only problem with this is, we need to take in consideration that most countries see Bitcoin as a commodity, and it's even more interesting when you compare Bitcoin to the other commodities. It will also out perform things like gold and silver and platinum for that matter.

You need to look at it from all sides to get a better picture. ^LoL^
legendary
Activity: 1246
Merit: 1011
October 14, 2015, 01:51:32 AM
#18
If this is not a testament to longevity and bright future of the currency backed purely by trust of it's users, I do not know what will convince you.

Surely this argument claims an even brighter future for 42-coin?  A single unit of this 2-year-old, active altcoin is currently worth about 460 USD, nearly twice as much as a bitcoin!
legendary
Activity: 1946
Merit: 1007
October 14, 2015, 01:45:27 AM
#17
The data would look quite different if you would start at the lowest denomiting unit.

1 cent equals 0.01 dollar
1 satoshi equals 0.0000025 dollar

It all depends on how you present the data.
legendary
Activity: 3542
Merit: 1352
October 14, 2015, 12:51:12 AM
#16
What in the world is a Seborgan Dollar? Huh

Anyways, great presentation. I like the fact that even if you add up those numbers together, still it wouldn't surpass bitcoin's price in USD.
legendary
Activity: 2282
Merit: 1023
October 13, 2015, 09:51:14 PM
#15
Interesting way to look at bitcoin vs other currency. What makes bitcoin worth even more is the limited supply! There are only 21 million coins and about 2-3 millions (my guess which most likely is wrong) is lost forever!
sr. member
Activity: 490
Merit: 250
October 13, 2015, 05:15:42 PM
#14
Interesting statistics, bitcoin will probably still be the most stable currency for the next 5-10 years.
hero member
Activity: 605
Merit: 500
October 13, 2015, 03:42:54 PM
#13
All fair points folks... However, you do understand this thread has been created for entertainment purpose mostly, right?

Appreciate lovely discussion though.
Pab
legendary
Activity: 1862
Merit: 1012
October 13, 2015, 03:24:41 PM
#12
Preety great statistic work you did.Do you included complimentary currencys statistics.Compare to them btc is like drop in ocean and now thayare more and more popular,citi currencys,industry currencys,biggest is still swiss gold frank running from 1932with mln daily exchange
hero member
Activity: 798
Merit: 1000
Move On !!!!!!
October 13, 2015, 03:16:42 PM
#11
Yes, but things won't look so good when you compare PIB and number of units in circulation

Exactly the thought in my mind. There is only 21 million bitcoins but how many million euros are out there for example? Or any other currency?

I get what you tried to do OP, but you have presented only half of the story!
legendary
Activity: 1862
Merit: 1009
October 13, 2015, 02:59:20 PM
#10
Yes, but things won't look so good when you compare PIB and number of units in circulation
member
Activity: 70
Merit: 10
October 13, 2015, 02:46:21 PM
#9
Today I Learned about the Seborgan Luigino (1 SPL = 6 USD)
Thanks OP
hero member
Activity: 605
Merit: 500
October 13, 2015, 02:20:09 PM
#8
time to sell my Mongolian Tughrik   Lips sealed

I would leave your Mongolian Tugrik alone. With how things are going Mongolian Tugrik could be last standing fiat currency. Damn Mongolians :-)
legendary
Activity: 1638
Merit: 1046
October 13, 2015, 01:40:10 PM
#7
I saw our currency price is low. Seborga one of the highest before bitcoin,I didnt hear it before. but the difference is seborga is a local currencies then the bitcoin is Cryptocurrencies or you can called ecurrency.
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
October 13, 2015, 01:15:50 PM
#6
time to sell my Mongolian Tughrik   Lips sealed
hero member
Activity: 506
Merit: 500
October 13, 2015, 12:53:45 PM
#5
The price isn't supported by its users. Btc is just another market, and every market is there to facilitate wealth distribution even if it is poor.
legendary
Activity: 3500
Merit: 2246
🌀 Cosmic Casino
October 13, 2015, 12:45:44 PM
#4
legendary
Activity: 1610
Merit: 1183
October 13, 2015, 12:16:01 PM
#3
Bitcoin is the ultimate form of money. The only reason it isn't the worldwide currency that people that understands barriers in money are stupid it's because of the states and the monopoly of violence (armies) backing up the fiats, not because they are better money. So yeah, it's pretty much fucked up how they are stopping progress.
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