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Author Topic: bitcoin market cap: $50 million  (Read 2417 times)
xf2_org
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May 14, 2011, 04:40:47 AM
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Current bitcoin market cap, according to bitcoinwatch is 52,698,450 USD.

Closing in on a $100 mil economy.


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May 14, 2011, 04:44:26 AM
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Iím still not comfortable with this kind of price increase. Donít you think this will reverse before it reaches 100 million?

Anyway, itís an impressing number. I remember when that wasnít even a million Ö

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May 14, 2011, 04:49:44 AM
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Iím still not comfortable with this kind of price increase. Donít you think this will reverse before it reaches 100 million?

Anyway, itís an impressing number. I remember when that wasnít even a million Ö

It's fucking insanity for sure, but we don't know if the price of bitcoin will hold?

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May 14, 2011, 07:14:57 PM
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Are you guys saying that there could be day, when BTC returns to being like less than $2?
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May 14, 2011, 08:04:55 PM
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Closing in on a $100 mil economy.

The term "market cap" is generally used when referring to equities.  With bitcoin the number of bitcoins issued is the "money stock" so multiplying the money stock times the current BTC/USD market exchange rate gives a number but I'm not sure what is the correct term for that number.  Is it "currency valuation"?  Weath?  Purchasing Power?

It definitely isn't "economy".  If 100% of bitcoins were acquired and never traded, there could be a high valuation (BTCs issued X exchange rate) but a zero economy.

Perhaps "Purchasing Power equivalent" is the correct term.
  http://en.wikipedia.org/wiki/Purchasing_power
   In other words, at the BTC/USD market exchange rate of $8.50 can we say the purchasing power of 1 BTC is equivalent to that of $8.50 USD.  So the money stock of 6.2 million BTCs times $8.50 gives bitcoin the purchasing power of $52.7 million

Of course the purchasing power is only valid for a specific point in time.    The reason I'm not sure that referring to it as purchasing power would be best is because there needn't be any bitcoins to change hands for the purchasing power to rise or fall.

Maybe "Current Purchasing Power" is the best way to describe this $52.7 million number?

[Edit: It was suggested in another thread that TDV (Total Dollar Valuation) is the best way to describe what is sometimes referred to as Bitcoin's "market cap".]

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October 08, 2013, 08:01:24 AM
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So I know it's a faux pas to bring a thread this old back from the dead...but it's for pure nostalgia/entertainment purposes. The market cap is about thirty times higher today...but similar posts continue to pop up daily.

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October 08, 2013, 08:39:56 AM
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Iím still not comfortable with this kind of price increase. Donít you think this will reverse before it reaches 100 million?

Anyway, itís an impressing number. I remember when that wasnít even a million Ö

It's showing its success considering it wasn't even a million. Although, if it holds is a different story.

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October 11, 2013, 12:10:05 AM
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Iím still not comfortable with this kind of price increase. Donít you think this will reverse before it reaches 100 million?

Anyway, itís an impressing number. I remember when that wasnít even a million Ö
I remember when it wasn't even a billion.

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October 11, 2013, 04:00:13 AM
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For The Record The Current Market Cap of Bitcoin =  $1,495,783,885 USD !

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October 11, 2013, 10:48:38 PM
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Should probably lock this thread -- my bad haha.

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October 12, 2013, 07:22:24 AM
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Iím still not comfortable with this kind of price increase. Donít you think this will reverse before it reaches 100 million?

Anyway, itís an impressing number. I remember when that wasnít even a million Ö

Yeah, up to 266 again, and then drop immediately to 40

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October 12, 2013, 07:25:20 AM
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Lets let this topic dead and we bump this thread again after it hits 1 TRILLION... Smiley

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