41–50 of 184 posts
Bitcoin has about $133 bil marketcap. NYSE symbols with the twice (2X) this marketcaps according to Yahoo Finance: UNH (UnitedHealth Group) mcap: $262 bil, trading volume: $1.2 bil KO (COCA-COLA) mcap: $231 bil, trading volume: $0.6 bil MRK (MERCK) mcap: $225 bil trading volume: $0.7 bil Therefore, for Bitcoin to be tradeable as similar stocks it has to show $0.25-0.5 bil for $133 bil mcap or $0.5-1.0 bil for $250 bi…
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Because Bitcoin is (at least theoretically) a currency. You're comparing it to a commodity or store of value. The power of a currency is the ability to trade it for goods and services. If that is no longer happening with Bitcoin it has morphed into something else entirely.
> Because Bitcoin is (at least theoretically) a currency. Bitcoin is many things, but pinning it as a currency is very reductionist. It can be used as a currency, but in its current form, it isn't very practical (lighting is aiming to, and will likely succeed in fixing that). It is IMOH very much more useful for all the other use cases (eg store of value, doing away with government brain-hared management of fiat curr…
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I've never owned or traded bitcoin, but as I understand it the main attraction is that it's like the gold standard (of course for people who don't understand why the gold standard was a bad idea).
It's nothing like the gold standard. What made the gold standard a bad idea does not apply to Bitcoin.
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That's one of the standard metrics to judge any currency. Bitcoin is not advertised as an asset but as a digital currency. But it has clearly become primarily an asset, given the minimal uses of it as a currency.
Once transaction fees exceeded $20 back in 2017, it was pretty clear Bitcoin was an asset not a currency. Horrible properties for a currency. Usual properties for a collectible asset.
Fees may have made this inevitable, but having to deal with taxes has definitely made me much more wary of using it for small purchases. Bitcoin tax accounting is tedious, and I think once a company solves non-custodial record keeping for the purposes of automated tax accounting, it will increase velocity of spending.
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Is it actually gold that's being traded, or papers/promises/options/whatever-else-but-physical-gold saying 'x amount of gold' is actually traded?
Well, physical Bitcoins aren't being traded either. Because there aren't physical Bitcoins.
Bitcoin has about $133 bil marketcap. NYSE symbols with the twice (2X) this marketcaps according to Yahoo Finance: UNH (UnitedHealth Group) mcap: $262 bil, trading volume: $1.2 bil KO (COCA-COLA) mcap: $231 bil, trading volume: $0.6 bil MRK (MERCK) mcap: $225 bil trading volume: $0.7 bil Therefore, for Bitcoin to be tradeable as similar stocks it has to show $0.25-0.5 bil for $133 bil mcap or $0.5-1.0 bil for $250 bi…
I have a hard time believe its anything other than market makers providing the illusion of trades. Have you seen the price swings? If there was real volume and real transactions asides from trades, how would such insane swings be possible?
I understand why exchanges are interested in wash trading but I don't know why market makers would provide any illusion since each transaction costs in order of 0.075% of its value.
Earlier quoted context omitted.
Because Bitcoin is (at least theoretically) a currency. You're comparing it to a commodity or store of value. The power of a currency is the ability to trade it for goods and services. If that is no longer happening with Bitcoin it has morphed into something else entirely.
I've never owned or traded bitcoin, but as I understand it the main attraction is that it's like the gold standard (of course for people who don't understand why the gold standard was a bad idea).
I think Bitcoin is similar to the gold standard, and its popularity lies in the mismatch of goals between government desires for fiat issuance and individuals for storing value.
Bitcoin has about $133 bil marketcap. NYSE symbols with the twice (2X) this marketcaps according to Yahoo Finance: UNH (UnitedHealth Group) mcap: $262 bil, trading volume: $1.2 bil KO (COCA-COLA) mcap: $231 bil, trading volume: $0.6 bil MRK (MERCK) mcap: $225 bil trading volume: $0.7 bil Therefore, for Bitcoin to be tradeable as similar stocks it has to show $0.25-0.5 bil for $133 bil mcap or $0.5-1.0 bil for $250 bi…
There's no such thing as a "market cap" for Bitcoin - seriously, give me a definition of "market cap" for Bitcoin that makes any sense at all compared to something like the future value of cash flows from UNH equity.
Bitcoin has about $133 bil marketcap. NYSE symbols with the twice (2X) this marketcaps according to Yahoo Finance: UNH (UnitedHealth Group) mcap: $262 bil, trading volume: $1.2 bil KO (COCA-COLA) mcap: $231 bil, trading volume: $0.6 bil MRK (MERCK) mcap: $225 bil trading volume: $0.7 bil Therefore, for Bitcoin to be tradeable as similar stocks it has to show $0.25-0.5 bil for $133 bil mcap or $0.5-1.0 bil for $250 bi…
Bitcoin is not a stock though. Forex markets do $5 trillion in daily volume against an $80 trillion base. For example.
Bitcoin has about $133 bil marketcap. NYSE symbols with the twice (2X) this marketcaps according to Yahoo Finance: UNH (UnitedHealth Group) mcap: $262 bil, trading volume: $1.2 bil KO (COCA-COLA) mcap: $231 bil, trading volume: $0.6 bil MRK (MERCK) mcap: $225 bil trading volume: $0.7 bil Therefore, for Bitcoin to be tradeable as similar stocks it has to show $0.25-0.5 bil for $133 bil mcap or $0.5-1.0 bil for $250 bi…
MZM velocity of money of USD is 1.3