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I doubt it. You don't think Bitcoin has a fair market cap at around $10-20 billion? Seems like a reasonable range to me, especially since gold is worth way over
by xyzzy4 10y ago
I doubt it. You don't think Bitcoin has a fair market cap at around $10-20 billion? Seems like a reasonable range to me, especially since gold is worth way over $1 trillion. The gold bubble should pop way before Bitcoin does.
- thfuran 10y agoGold actually physically exists and, aside from more practical uses, has been prized for decoration and jewelry for thousands of years. I don't really see that as a particularly good comparison.
- deleted 10y ago[deleted]
- dwaltrip 10y agoThe large majority of gold is held for purely monetary or investment reasons. Decorative and industrial usage contributes a minority share to the value of gold.
- pyrophane 10y agoYea, but if I have a lot of gold I don't have to worry that another, slightly different version of the metal is going to show up tomorrow and take away all of the value of my gold. With Bitcoin however, assuming I believe that unregulated digital currencies are valuable, I'm still left with the question 'why is this one particularly valuable?' The answers typically given include market adoption, support from companies, current value, and name recognition. These things have value, but none of them are intrinsic to bitcoin, and are all subject to rapid change. For that reason, I don't consider bitcoin to be in any way 'stable,' especially since most of its value is driven by speculative investment rather than actual utility.
- mmanfrin 10y agoThe gold bubble should pop >waits patiently for 7000 years