Topic: Total worth of all bitcoins crossed half a billion USD (Read 1495 times)
Facebook's market cap is 63.10 B...we're just getting started.
$649,692,400 USD
Total worth of #Bitcoin now (Mar 19, 2013 04:47 UTC) crossed half a billion USD. 566.373 Million USD (10.917M coins × $51.88), to be exact. 
Well, technically, they're not all worth $51.88 - that just happens to be the price the last person bought at. (which is up to 53.70 at the moment)
People only need to sell coins worth $8 million for the price to go down to $0.02, and bring the market cap to just 160k USD.
Just wanted to put this out there as I have a problem with market cap in general, since it's an artificially inflated number that doesn't serve any purpose other than for bragging rights.
And yeah, I'm fun at parties.
marketcap is the accepted valuation, the value of the trade is considered to be holding against all sell orders
and you forget to add bitcoin is an emerging currency with the purpose of being a shadow currency "to entire global assets and liquidity"
That's not really true. We can all go to bitmit right now and buy $53 worth of goods with each coin. That wouldn't change the price. You're saying they are only worth money once we sell them for USD.
If you're not selling them for USD, then the phrase "buy $53 worth of goods with each coin" doesn't make much sense. You'd be buying 1 coin worth of goods with each coin.
Realistically however, for at least the short/medium term, bitmit sellers would most likely need some fiat liquidity and exchange some of the coins thus changing the price.
Total worth of #Bitcoin now (Mar 19, 2013 04:47 UTC) crossed half a billion USD. 566.373 Million USD (10.917M coins × $51.88), to be exact.
Well, technically, they're not all worth $51.88 - that just happens to be the price the last person bought at. (which is up to 53.70 at the moment)
People only need to sell coins worth $8 million for the price to go down to $0.02, and bring the market cap to just 160k USD.
Just wanted to put this out there as I have a problem with market cap in general, since it's an artificially inflated number that doesn't serve any purpose other than for bragging rights.
And yeah, I'm fun at parties.
That's not really true. We can all go to bitmit right now and buy $53 worth of goods with each coin. That wouldn't change the price. You're saying they are only worth money once we sell them for USD.
Why does this stuff always happen when I've gone to sleep?
China is leading the rush. Total worth of #Bitcoin now (Mar 19, 2013 04:47 UTC) crossed half a billion USD. 566.373 Million USD (10.917M coins × $51.88), to be exact.
Well, technically, they're not all worth $51.88 - that just happens to be the price the last person bought at. (which is up to 53.70 at the moment)
People only need to sell coins worth $8 million for the price to go down to $0.02, and bring the market cap to just 160k USD.
Just wanted to put this out there as I have a problem with market cap in general, since it's an artificially inflated number that doesn't serve any purpose other than for bragging rights.
And yeah, I'm fun at parties.
Why does this stuff always happen when I've gone to sleep?
Or, 22,654,920 Raspberry Pi computers.. 
That's a lot. Do you think that many exist? I'm fairly certain that watch was a limited edition and 566 examples do not exist.
Anyway, forget fiat. What else can we compare with the total worth of all bitcoins?
fiat is better to compare
like 1,600 Trillion of derivatives
Any increased activity from Cyprus?
That's 81 milli USD (0.081215 USD) for everyone in this world..
8.1215 cents..
8.1215 cents..
Or, 22,654,920 Raspberry Pi computers..
Total worth of #Bitcoin now (Mar 19, 2013 04:47 UTC) crossed half a billion USD. 566.373 Million USD (10.917M coins × $51.88), to be exact.
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