Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
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Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
1–10 of 61 posts
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#2I honestly do not understand how this market cap comparison argument is useful in assessing the viability of Bitcoin.
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#3One key difference right now, though, is that I can use my Mastercard to pay for just about anythying just about anywhere I happen to be. In comparison to this worldwide acceptance as a means of payment, BTC seems just about worthless.
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#4I honestly do not understand how this market cap comparison argument is useful in assessing the viability of Bitcoin.
As a value store? Clearly because of exposure.
As a vehicle for trade? Not there yet, we need more adoption, aided by exposure.
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#5The price of bitcoin is totally fraudulent, driven by a couple of exchanges literally printing money, and gullible people doing arbitrage and exchanging bitcoin for tether.
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#6I'm a bit weary. Say this cryptocurrency thing does take of and it's not a bubble. Then wouldn't this have similar effects that quantitative easing would have? I understand quantitative easing as 'printing money', because I'm not an economics person.
But if this would take off and get a strong foothold at the prices that we're seeing now (bitcoin almost 10K in dollars), then didn't some subset of techies print a lot more money than there is?
To me it seems there might be a chance that we're devaluing real currencies by quite a bit over the course of the next couple of years. Of course, the bigger chance is that this is a bubble and it will pop, but what if it isn't?
I know this is quite an unnuanced comment. I'm putting it out here, because I feel other people have the same concern and would like to see people who know a bit more comment on these ideas.
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#7One key difference right now, though, is that I can use my Mastercard to pay for just about anythying just about anywhere I happen to be. In comparison to this worldwide acceptance as a means of payment, BTC seems just about worthless.
BTC is the gold of cryptocurrency. Bitcoin's strength is not being a practical payment system. Instead, with Bitcoin, you can trade with any other currency.
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#8Not a currency.
Doesn't have a 'market cap'.
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#9I honestly do not understand how this market cap comparison argument is useful in assessing the viability of Bitcoin.
As a value store? Clearly because of exposure. As a vehicle for trade? Not there yet, we need more adoption, aided by exposure.
Isn't the exposure making people less likely to trade? No-one wants to spend bitcoins because they're afraid they'll grow in value and they will have wasted money.
Re: Bitcoin World’s 30th Largest Currency, Market Cap Closes on Mastercard
#10One key difference right now, though, is that I can use my Mastercard to pay for just about anythying just about anywhere I happen to be. In comparison to this worldwide acceptance as a means of payment, BTC seems just about worthless.
Perfectly right. This will only change if several factors converge to create the right conditions. One big factor would be a new "Google" of bitcoin, namely a disruptive new entry in the payements space, marketing BTC for the end user and threatening the incumbents to the point of forcing them to drop barriers to entry, and even start adopting the new technology.