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Of course everybody has a different opinion. Bitcoin might be displaced by another cryptocurrency. There are many risks threatening Bitcoin. Etc. But with all
by mrb 13y ago
Of course everybody has a different opinion. Bitcoin might be displaced by another cryptocurrency. There are many risks threatening Bitcoin. Etc.
But with all these disclaimers in mind, I would say I estimate the worth of Bitcoin to be roughly the size of the remittance market, or the gold market, and possibly bigger. So I would say at the very least $100 to $1,000 billion. Divide by the maximum theoretical limit of 21 million bitcoins. That gives a worth of at the very least $5,000 to $50,000 to each bitcoin.
- unclebucknasty 13y agoInteresting approach, and not unreasonable, I'd guess. Current demand (presumably resulting from its recent traction in China) is insane. Price is marching straight up and to the right even as I type this. So, looks like the demand from new entrants is establishing at least a new range. Barring some horrible news, it's becoming difficult to see the sharp drop we've seen before. But, I guess that depends on how you look at it: The new entrants are either feeding the bubble or they're actually transferring wealth into BTC for the longer term. This article suggests the latter: https://news.ycombinator.com/item?id=6756614 https://news.ycombinator.com/item?id=6756614 EDIT: In addition, there seems to be a momentum building around BTC with Senate hearings today, more recent VC activity, and more media coverage, etc. I'm wondering if we're seeing a threshold-crossing here, and we'll look back to see this as the moment when BTC's future as a real alternative currency was sealed.
- vinchuco 13y ago>bitcoin discplaced by another cryptocurrency Like what? Will the other currencies ever catch up with BTC? What's the probability of this happening? Wouldn't BTC just become the standard, given it's acceptance?