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“It’s a money network,” Winklevoss said. “What happens when you put an economic incentive around that network? That’s possibly the most effective network in the
by rsp1984 6y ago
“It’s a money network,” Winklevoss said. “What happens when you put an economic incentive around that network? That’s possibly the most effective network in the world.”
How in the world can you call Bitcoin a "money network"? Unless I'm missing something obvious there's no more network effect to it than to any other popular currency or security.
- deleted 6y ago[deleted]
- chrisco255 6y agoYou're correct on Bitcoin's network effect being currently less than that of existing popular fiat currencies. The currency market, is of course, the most actively traded market in the world. The FOREX trades over $7 trillion per day, and the market is worth over $2.4 quadrillion. But yes, Bitcoin has already eclipsed all but a handful of stocks with a market cap clocking in at $800B-$1T, a daily volume of $50B+ and its more liquid than any stock since it trades 24/7 and can be remitted without intermediaries.