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Tell HN: Bitcoin is about to break 10M market cap mark.
bitcoinwatch.com is probably the best place to watch.. probably will happen before midnight.
Been a crazy rally.
- mrb 15y agoThis morning Bitcoin reached parity with EUR ($1.45/BTC). This afternoon it reached parity with GBP ($1.65/BTC). Insane. http://bitcoincharts.com/markets/mtgoxUSD.html http://bitcoincharts.com/markets/mtgoxUSD.html
- pathik 15y ago20% appreciation in a day. That's definitely a bubble.
- sgornick 15y agoAnything over $1.67 USD brings the "market cap" for the 5.991M BTC (money stock at present) over the $10M mark. Currenty intraday high of $1.70 so 10M has been breached.
- TorKlingberg 15y agoI suspect if anyone tried to convert a significant amount of bitcoins into ordinary currency, the value would plummet. Also, comparing the value of one "bitcoin" to one USD or EUR is meaningless.
- eof 15y agoHow is it meaningless? There is an active trading market where people are trading BTC and USD back and forth. It doesn't seem different than comparing one "dollar" to one "euro."
- phirephly 15y agoPerhaps he's referring to the expected elasticity of Bitcoin, but you're right, comparing anything to the dollar is perfectly valid, but making comparisons and liquidating assets are two different things.
- tzs 15y agoDollars and Euros are currencies. Bitcoins are collectables.
- eof 15y agoEven though that is patently false, even if they were only "collectables" then you could still tie them to a dollar/euro amount.
- sgornick 15y agoCan the title still be edited? Over $11.5M at the present moment. There's so little supply that to buy even just a few thousand bitcoins at this point runs the price up 10% or more.
- eof 15y agosomeone is buying everything they can at 1.95 right now