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Bitcoin crosses $10B market cap again

coinmarketcap.com

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Re: Bitcoin crosses $10B market cap again

#51

Post by underyx »

throwawaysocks wrote: post #42
underyx wrote: post #20

Earlier quoted context omitted.

The best data I could find on this is in their 2015 annual report, which says they've had $81.6 billion in consumer-to-consumer transfers[0], which made up 79.21% of their revenue[1], so I guess we can estimate an annual turnover of $103 billion, which comes out to $282 million per day over the year of 2015. [0]: http://s1.q4cdn.com/568883301/files/doc_financials/2015Annua... - page 66 [1]: http://s1.q4cdn.com/568883…

Most of their revenue = Most of their volume is questionable. Do you have any sense for whether revenue and vole are roughly correlated here?

Nope, I'd assume that B2B has lower fees/margins, so the actual daily volume should be higher than my calculation said above. Still, it should be enough to establish that WU is still a fair bit ahead of BTC.

Re: Bitcoin crosses $10B market cap again

#52

Post by tveita »

LAMike wrote: post #41
LAMike wrote: post #4

Also bigger than Twitter. Bitcoin has maybe 3 million users (maybe). Twitter has 300 million. I'm investing in both, and I wonder how much Bitcoin would be worth at 300 million users. The network effects are going to be fun to watch

Lol HN really doesn't like Bitcoin. Sour grapes I guess

Hacker News has been the most Bitcoin friendly of the communities I visit on a regular basis. It probably has the highest ratio of Bitcoin enthusiasts you'll find in a mainstream community outside of drug fora and the Bitcoin community itself.

If this story can't find an audience here, it's not going to do better elsewhere.

Re: Bitcoin crosses $10B market cap again

#54

Post by googletazer »

nikolay wrote: post #46

Chinese second-class investors are doing another pump-and-dump scheme now using the #HalvingHype. Bitcoin has gained no consumer adoption, most new development is happening with Ethereum, and Bitcoin got replaced in headlines with Blockchain. I see this final pump-and-dump as a desperation move. Imagine this applied to stocks as "Let's pump AMZN, because if we don't, it will go out of business." This time, the pump i…

Explain to me why Ethereum isn't just hype.

Re: Bitcoin crosses $10B market cap again

#55

Post by nikolay »

googletazer wrote: post #54
nikolay wrote: post #46

Chinese second-class investors are doing another pump-and-dump scheme now using the #HalvingHype. Bitcoin has gained no consumer adoption, most new development is happening with Ethereum, and Bitcoin got replaced in headlines with Blockchain. I see this final pump-and-dump as a desperation move. Imagine this applied to stocks as "Let's pump AMZN, because if we don't, it will go out of business." This time, the pump i…

Explain to me why Ethereum isn't just hype.

N.B. This here is HN, not Reddit.

It's like asking - is the next major version of something just a hype.

Okay, Bitcoin was good, it introduced the concept of the blockchain and solved a long-standing issue in a very energy inefficient way.

To run all this computing power just so that Chinese thieves and speculators can sneak out stolen money or increase it as they either lack means to invest elsewhere or it'd be just too sophisticated for them to do, is a ridiculous concept that cannot be sustained for too long!

P.S. By promoting Bitcoin, you support Climate Change, illicit businesses, and stinky speculation.

Re: Bitcoin crosses $10B market cap again

#56

Post by cableshaft »

nikolay wrote: post #46

Chinese second-class investors are doing another pump-and-dump scheme now using the #HalvingHype. Bitcoin has gained no consumer adoption, most new development is happening with Ethereum, and Bitcoin got replaced in headlines with Blockchain. I see this final pump-and-dump as a desperation move. Imagine this applied to stocks as "Let's pump AMZN, because if we don't, it will go out of business." This time, the pump i…

So if that's the case, how long do you think it'll last? At least till the halving event?

Re: Bitcoin crosses $10B market cap again

#57

Post by johndevor »

nikolay wrote: post #46

Chinese second-class investors are doing another pump-and-dump scheme now using the #HalvingHype. Bitcoin has gained no consumer adoption, most new development is happening with Ethereum, and Bitcoin got replaced in headlines with Blockchain. I see this final pump-and-dump as a desperation move. Imagine this applied to stocks as "Let's pump AMZN, because if we don't, it will go out of business." This time, the pump i…

> Bitcoin has gained no consumer adoption

https://coin.dance/volume/localbitcoins

How do you explain away the increased adoption in nearly every country listed there?

And Bitcoin ATMs are growing at a steady clip:

https://coinatmradar.com/charts/

These are two metrics of real growth that goes against what you're describing.

Re: Bitcoin crosses $10B market cap again

#58

Post by nikolay »

johndevor wrote: post #57
nikolay wrote: post #46

Chinese second-class investors are doing another pump-and-dump scheme now using the #HalvingHype. Bitcoin has gained no consumer adoption, most new development is happening with Ethereum, and Bitcoin got replaced in headlines with Blockchain. I see this final pump-and-dump as a desperation move. Imagine this applied to stocks as "Let's pump AMZN, because if we don't, it will go out of business." This time, the pump i…

> Bitcoin has gained no consumer adoption https://coin.dance/volume/localbitcoins How do you explain away the increased adoption in nearly every country listed there? And Bitcoin ATMs are growing at a steady clip: https://coinatmradar.com/charts/ These are two metrics of real growth that goes against what you're describing.

All local ATMs I know closed down...

Re: Bitcoin crosses $10B market cap again

#59

Post by nikolay »

cableshaft wrote: post #56
nikolay wrote: post #46

Chinese second-class investors are doing another pump-and-dump scheme now using the #HalvingHype. Bitcoin has gained no consumer adoption, most new development is happening with Ethereum, and Bitcoin got replaced in headlines with Blockchain. I see this final pump-and-dump as a desperation move. Imagine this applied to stocks as "Let's pump AMZN, because if we don't, it will go out of business." This time, the pump i…

So if that's the case, how long do you think it'll last? At least till the halving event?

When this hype wears off, it will sharply fall. If miners don't find a way to mine efficiently, the whole thing will die.

Re: Bitcoin crosses $10B market cap again

#60

Post by googletazer »

nikolay wrote: post #55
googletazer wrote: post #54

Earlier quoted context omitted.

Explain to me why Ethereum isn't just hype.

N.B. This here is HN, not Reddit. It's like asking - is the next major version of something just a hype. Okay, Bitcoin was good, it introduced the concept of the blockchain and solved a long-standing issue in a very energy inefficient way. To run all this computing power just so that Chinese thieves and speculators can sneak out stolen money or increase it as they either lack means to invest elsewhere or it'd be just…

Just by breathing you can also say I support Climate Change, illicit businesses and stinky speculation.

Where are ethereums killer apps? Something so groundbreaking that it takes the world by storm. The browser, or bittorrent for example. Or is it just another chain in the centipede of cryptocurrency "innovation"?

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