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Miaow! The analysis is absurd because it treats Bitcoin as the only representative of an asset class (crypto currency), rather than one of possibly hundreds.
by james1071 13y ago
Miaow! The analysis is absurd because it treats Bitcoin as the only representative of an asset class (crypto currency), rather than one of possibly hundreds.
- simplemath 13y agoThere are dozens of altcoins now but LTC is the only one with any real cap - and its purely a speculatve vehicle, whereas while BTC is mostly speculative, you _can_ actually exchange BTC directly for goods and or services in a rapidly increasing number of ways. The ecosystem and brand awareness is novel for BTC, so in that respect I don't disagree with the analysis having focused solely on it - however, I do find their number (remarkably close to current price) a bit leading.
- james1071 13y agoThe analysis assumes a demand for such a currency and assumes that Bitcoin will have 100% market share. That is not going to happen.