Bitcoin's market cap crosses $1T milestone for the first time
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Bitcoin's market cap crosses $1T milestone for the first time
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Re: Bitcoin's market cap crosses $1T milestone for the first time
#2Think more interesting number would be total paid-in capital. That would be a better metric to gauge the baseline value. My guess is it’s closer to $10-20B.
Re: Bitcoin's market cap crosses $1T milestone for the first time
#3Satoshi Nakamoto is the richest person in the world
Re: Bitcoin's market cap crosses $1T milestone for the first time
#4Bitcoin is one of the most successful open source technologies of all time and the best decentralized network ever created, surpassing BitTorrent. This is a stunning achievement of pure computer science and economic game theory that enables strangers to act only in their self interest to secure and grow the network.
No matter what you think of bitcoin, you must admit this has been successful beyond anyone’s wildest expectations only 12 short years ago. It’s rise and acceptance into the deepest reaches of traditional finance and conservative institutions like BNY Mellon is absurd in its speed and their willingness to accept fundamental change. We are in the midst of a paradigm shift to open financial protocols and huge innovation in capital markets. On to the next decade of crypto!
Re: Bitcoin's market cap crosses $1T milestone for the first time
#5That’s about 0.2% of global wealth allocation. I wonder when the people who normally recommend 30% of your portfolio in bonds will recommend bitcoin as the cash equivalent. That would leave a 150x potential from here.
Re: Bitcoin's market cap crosses $1T milestone for the first time
#6Bitcoin is one of the most successful open source technologies of all time and the best decentralized network ever created, surpassing BitTorrent. This is a stunning achievement of pure computer science and economic game theory that enables strangers to act only in their self interest to secure and grow the network. No matter what you think of bitcoin, you must admit this has been successful beyond anyone’s wildest e…
I don’t think it does any of the things you mentioned. It’s a vehicle for speculations and money laundering.
Re: Bitcoin's market cap crosses $1T milestone for the first time
#7That’s about 0.2% of global wealth allocation. I wonder when the people who normally recommend 30% of your portfolio in bonds will recommend bitcoin as the cash equivalent. That would leave a 150x potential from here.
Cash is held for it's stability. bitcoin is the polar opposite of stability right now.
Re: Bitcoin's market cap crosses $1T milestone for the first time
#8Bitcoin is one of the most successful open source technologies of all time and the best decentralized network ever created, surpassing BitTorrent. This is a stunning achievement of pure computer science and economic game theory that enables strangers to act only in their self interest to secure and grow the network. No matter what you think of bitcoin, you must admit this has been successful beyond anyone’s wildest e…
I don't see anything successful about it:
1) Absurd levels of electricity consumed
2) Majority of BTC is not used as an asset,or even as currency,but purely as a tool for speculation
3) the surrounding ecosystem is worse than FX world, which is already as bad as it gets
4) No real anonymity either: any meaningful amount needs to be exchanged to Fiat sooner or later.
5) Adoption is still very very low and won't change with such volatility.
Also, financial protocols!= currency.
Re: Bitcoin's market cap crosses $1T milestone for the first time
#9Bitcoin is one of the most successful open source technologies of all time and the best decentralized network ever created, surpassing BitTorrent. This is a stunning achievement of pure computer science and economic game theory that enables strangers to act only in their self interest to secure and grow the network. No matter what you think of bitcoin, you must admit this has been successful beyond anyone’s wildest e…
I don't see anything successful about it: 1) Absurd levels of electricity consumed 2) Majority of BTC is not used as an asset,or even as currency,but purely as a tool for speculation 3) the surrounding ecosystem is worse than FX world, which is already as bad as it gets 4) No real anonymity either: any meaningful amount needs to be exchanged to Fiat sooner or later. 5) Adoption is still very very low and won't change…
"it's harmful" and."I don't like it" doesn't make it unsucessful. Cigarettes are wildly successful. Thousands of people, from uninteresting individuals to billionaires and banks, are spending their resources to engage with it.
Re: Bitcoin's market cap crosses $1T milestone for the first time
#10Think more interesting number would be total paid-in capital. That would be a better metric to gauge the baseline value. My guess is it’s closer to $10-20B.
https://bitcointreasuries.org/ indicates that $51,841,521,637 has been paid in just over the last few years and that's just a few companies.
Your figure is off by an order of magnitude. Greyscale alone has purchased more than that amount.