The real price of bitcoin, less than an iphone app - page 2.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: jabo38 on March 16, 2014, 06:58:16 AM

First, I like bitcoin, I invested in it, but in reality it is not nearly as big as some people talk it up to be.

Fact. Market share of bitcoin- not even 8 billion USD.
Fact. Facebook bought Whatsapp for more than 19 billion USD.

That means that bitcoin as a service has a value of less than half of Whatsapp, a simple text messaging app for sending free texts and pics from smartphone to smartphone.

Yes, maybe Facebook overpaid for Whatsapp, but still...... for all the hours of development and years of coding and work done on the bitcoin code, a simple iphone/android app for sending texts is worth more.

Just something to think about.

The valuation of whatsapp comes from it's massive user base. Same thing with twitter. Got nothing to do with the technology. Most decent programmers could code something like twitter in a day.

Morbo

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Facebook didn't pay so much for an app. Facebook paid so much for the users that are using it. The users and their data is the product.

Dalmar

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Life is short, practice empathy in your life

These apps have millions of users that use it daily. Bitcoin has at most probably only 50-100k genuine active users (whales who are splitting up wallets skew data imo). So, it's not comparable at all. Also, their network effect is faster as there is less skepticism towards these apps compared to bitcoin.

Valuation is accurate at the moment, until bitcoin becomes more user friendly and secure.

m3g4tr0n

member

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I think the real story here is that 19 billion pricetag. My WTF meter is breaking in half.

Bill gates is only worth 4.1 whatsapps.

ns12123

newbie

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Yes, maybe this is nice topic to discuss but wait, bitcoin is much more valuable and huge then some text messaging app, so we just need to wait, this is revolution and cannot be done fast, it takes time. And market share can grow faster that we can think of.

jabo38

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mining is so 2012-2013

I hear you. I am all for power being moved back to the people. That is one reason I put money in it. That and I think it is also under valued.

NorTiaN

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Facebook and Whatsapp dont go against the governmental and banking oligarchy...
So bitcoin faces tougher oponents than FB or WA...

Thats why its currently so undervalued...
IMHO

cheers

jabo38

legendary

Activity: 1232

Merit: 1001

mining is so 2012-2013

First, I like bitcoin, I invested in it, but in reality it is not nearly as big as some people talk it up to be.

Fact. Market share of bitcoin- not even 8 billion USD.
Fact. Facebook bought Whatsapp for more than 19 billion USD.

That means that bitcoin as a service has a value of less than half of Whatsapp, a simple text messaging app for sending free texts and pics from smartphone to smartphone.

Yes, maybe Facebook overpaid for Whatsapp, but still...... for all the hours of development and years of coding and work done on the bitcoin code, a simple iphone/android app for sending texts is worth more.

Just something to think about.

Topic: The real price of bitcoin, less than an iphone app - page 2. (Read 1943 times)