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"I don't see adoption becoming anything more than anecdotal." Well the value of the whole blockchain is over $2.5Bn, so it's more than anecdotal. http://coinma

by adnam 12y ago

"I don't see adoption becoming anything more than anecdotal." Well the value of the whole blockchain is over $2.5Bn, so it's more than anecdotal. http://coinmarketcap.com/ http://coinmarketcap.com/

Thomashuet 12y ago
Can you find another mainstream currency whose value is not several orders bigger? $2.5Bn is anecdotal at the world scale.
JoachimS 12y ago
And Dogecoin has a value of 12 MUSD. A currency invented for the such wow. The value of BTC speaks more about people prepared to jump into anything that seems to be the next fast way of making money than the long term viability of it.
deleted 12y ago
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- dirtyaura 12y ago
  Huh? Usually it works the other way around. If you increase demand by buying a significant portion of Bitcoins, you INCREASE the price. And if you then don't sell that significant portion, you decrease the supply, which again INCREASES the price. For example, in the stock market, if there are rumours of hostile take over, the price of the particular stock rises. Think about e.g. Yahoo/Microsoft acquisition rumours.
tribaal 12y ago
2.5B is the price Microsoft paid for Minecraft. There is approximately 1.3 Trillion Dollars in paper/coin form, according to the Federal Reserve Bank of New York: http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html, and that's just USD. So yeah, anecdotal.
- gojock 12y ago
  a) market cap is meaningless for currencies - you want to look at transaction volume b) you're comparing apples and oranges - the market cap for USD is not the total value of printed currency c) btc transaction volume currently averages about $65M per day, which is $23.7B p.a - about 4x the size of the Apple App Store and about one-eighth of PayPal's $180B p.a and larger than all but the top 3-4 online payment providers d) it is still very, very early days for btc. it's goal is to not replace PayPal, but to have these payment gateways build on top of it. e) there are dozens of blockchain based applications currently in design, draft, development, beta test etc. f) the current implementation of btc for payments is horrible yet despite that it has established itself as a viable payment backend with a non-insignificant portion of the market g) comparing bitcoin with any fiat currency, let alone the worlds major reserve currency, is very flattering
FatalLogic 12y ago
The 'Market Cap' of bitcoin is more a reflection of how much people believe in its future value. It's not a very good indicator of current adoption. For adoption, you'd want to look more at data like transaction numbers, transaction value, merchants accepting it and order statistics from retailers. There's not much data, though.

by adnam 12y ago

"I don't see adoption becoming anything more than anecdotal." Well the value of the whole blockchain is over $2.5Bn, so it's more than anecdotal. http://coinmarketcap.com/ http://coinmarketcap.com/

Thomashuet 12y ago

Can you find another mainstream currency whose value is not several orders bigger? $2.5Bn is anecdotal at the world scale.

JoachimS 12y ago

And Dogecoin has a value of 12 MUSD. A currency invented for the such wow. The value of BTC speaks more about people prepared to jump into anything that seems to be the next fast way of making money than the long term viability of it.

deleted 12y ago

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dirtyaura 12y ago
Huh? Usually it works the other way around. If you increase demand by buying a significant portion of Bitcoins, you INCREASE the price. And if you then don't sell that significant portion, you decrease the supply, which again INCREASES the price. For example, in the stock market, if there are rumours of hostile take over, the price of the particular stock rises. Think about e.g. Yahoo/Microsoft acquisition rumours.

tribaal 12y ago

2.5B is the price Microsoft paid for Minecraft. There is approximately 1.3 Trillion Dollars in paper/coin form, according to the Federal Reserve Bank of New York: http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html, and that's just USD. So yeah, anecdotal.

gojock 12y ago
a) market cap is meaningless for currencies - you want to look at transaction volume b) you're comparing apples and oranges - the market cap for USD is not the total value of printed currency c) btc transaction volume currently averages about $65M per day, which is $23.7B p.a - about 4x the size of the Apple App Store and about one-eighth of PayPal's $180B p.a and larger than all but the top 3-4 online payment providers d) it is still very, very early days for btc. it's goal is to not replace PayPal, but to have these payment gateways build on top of it. e) there are dozens of blockchain based applications currently in design, draft, development, beta test etc. f) the current implementation of btc for payments is horrible yet despite that it has established itself as a viable payment backend with a non-insignificant portion of the market g) comparing bitcoin with any fiat currency, let alone the worlds major reserve currency, is very flattering

FatalLogic 12y ago

The 'Market Cap' of bitcoin is more a reflection of how much people believe in its future value. It's not a very good indicator of current adoption. For adoption, you'd want to look more at data like transaction numbers, transaction value, merchants accepting it and order statistics from retailers. There's not much data, though.