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Title: Our Competitions' Valuations Post by: Atlas on October 21, 2012, 05:52:44 PM Currency values are at:
European Union - 1035.2 billion USD, 24.30% USA - 850.7 billion USD, 19.97% Japan - 762.4 billion USD, 17.90% China - 492.3 billion USD, 11.56% India - 140.3 billion USD, 3.29% Russia - 110.8 billion USD, 2.60% UK - 87.5 billion USD, 2.05% Canada - 43.8 billion USD, 1.03% Switzerland - 40.3 billion USD, 0.95% Poland - 37.7 billion USD, 0.89% Brazil - 37.3 billion USD, 0.88% Mexico - 34.3 billion USD, 0.81% Australia - 32.4 billion USD, 0.76% Other countries - 554.9 billion USD, 13.03% Can Bitcoin reach even 1 Billion USD? Title: Re: Our Competitions' Valuations Post by: ElectricMucus on October 21, 2012, 06:01:08 PM Planning on a Bitcoin Republic? :)
Title: Re: Our Competitions' Valuations Post by: fivemileshigh on October 21, 2012, 06:21:23 PM Currency values are at: European Union - 1035.2 billion USD, 24.30% USA - 850.7 billion USD, 19.97% Japan - 762.4 billion USD, 17.90% China - 492.3 billion USD, 11.56% India - 140.3 billion USD, 3.29% Russia - 110.8 billion USD, 2.60% UK - 87.5 billion USD, 2.05% Canada - 43.8 billion USD, 1.03% Switzerland - 40.3 billion USD, 0.95% Poland - 37.7 billion USD, 0.89% Brazil - 37.3 billion USD, 0.88% Mexico - 34.3 billion USD, 0.81% Australia - 32.4 billion USD, 0.76% Other countries - 554.9 billion USD, 13.03% Can Bitcoin reach even 1 Billion USD? What makes you think these are our competitors? :p Title: Re: Our Competitions' Valuations Post by: Spekulatius on October 21, 2012, 06:53:50 PM Currency values are at: European Union - 1035.2 billion USD, 24.30% USA - 850.7 billion USD, 19.97% Japan - 762.4 billion USD, 17.90% China - 492.3 billion USD, 11.56% India - 140.3 billion USD, 3.29% Russia - 110.8 billion USD, 2.60% UK - 87.5 billion USD, 2.05% Canada - 43.8 billion USD, 1.03% Switzerland - 40.3 billion USD, 0.95% Poland - 37.7 billion USD, 0.89% Brazil - 37.3 billion USD, 0.88% Mexico - 34.3 billion USD, 0.81% Australia - 32.4 billion USD, 0.76% Other countries - 554.9 billion USD, 13.03% Can Bitcoin reach even 1 Billion USD? sauce? Title: Re: Our Competitions' Valuations Post by: Atlas on October 21, 2012, 08:32:40 PM Currency values are at: European Union - 1035.2 billion USD, 24.30% USA - 850.7 billion USD, 19.97% Japan - 762.4 billion USD, 17.90% China - 492.3 billion USD, 11.56% India - 140.3 billion USD, 3.29% Russia - 110.8 billion USD, 2.60% UK - 87.5 billion USD, 2.05% Canada - 43.8 billion USD, 1.03% Switzerland - 40.3 billion USD, 0.95% Poland - 37.7 billion USD, 0.89% Brazil - 37.3 billion USD, 0.88% Mexico - 34.3 billion USD, 0.81% Australia - 32.4 billion USD, 0.76% Other countries - 554.9 billion USD, 13.03% Can Bitcoin reach even 1 Billion USD? sauce? I believe they are attributable due to market clout and total money circulation alone, though; an easy but crude calculation. Title: Re: Our Competitions' Valuations Post by: repentance on October 21, 2012, 08:56:57 PM Currency values are at: European Union - 1035.2 billion USD, 24.30% USA - 850.7 billion USD, 19.97% Japan - 762.4 billion USD, 17.90% China - 492.3 billion USD, 11.56% India - 140.3 billion USD, 3.29% Russia - 110.8 billion USD, 2.60% UK - 87.5 billion USD, 2.05% Canada - 43.8 billion USD, 1.03% Switzerland - 40.3 billion USD, 0.95% Poland - 37.7 billion USD, 0.89% Brazil - 37.3 billion USD, 0.88% Mexico - 34.3 billion USD, 0.81% Australia - 32.4 billion USD, 0.76% Other countries - 554.9 billion USD, 13.03% Can Bitcoin reach even 1 Billion USD? sauce? I believe they are attributable due to market clout and total money circulation alone, though; an easy but crude calculation. I don't think you understand your own source. That table's referring to the amount of each nation's currency which is engaged in economic activity as a percentage of total world currencies involved in economic activity. The amount of BTC in circulation at any one time is actually relatively low - it would take quite a lot for the amount of Bitcoin in circulation (which is not the same thing as the theoretical value of all BTC produced to date) to reach $1 billion. To reach $1 billion based on the amount of BTC in circulation today (roughly 30% of all BTC produced to date), BTC would need to be worth USD 333 each. Title: Re: Our Competitions' Valuations Post by: Akka on October 21, 2012, 09:08:06 PM Planning on a Bitcoin Republic? :) http://bitcoinisland.org/ Title: Re: Our Competitions' Valuations Post by: Atlas on October 21, 2012, 09:22:59 PM Currency values are at: European Union - 1035.2 billion USD, 24.30% USA - 850.7 billion USD, 19.97% Japan - 762.4 billion USD, 17.90% China - 492.3 billion USD, 11.56% India - 140.3 billion USD, 3.29% Russia - 110.8 billion USD, 2.60% UK - 87.5 billion USD, 2.05% Canada - 43.8 billion USD, 1.03% Switzerland - 40.3 billion USD, 0.95% Poland - 37.7 billion USD, 0.89% Brazil - 37.3 billion USD, 0.88% Mexico - 34.3 billion USD, 0.81% Australia - 32.4 billion USD, 0.76% Other countries - 554.9 billion USD, 13.03% Can Bitcoin reach even 1 Billion USD? sauce? I believe they are attributable due to market clout and total money circulation alone, though; an easy but crude calculation. I don't think you understand your own source. That table's referring to the amount of each nation's currency which is engaged in economic activity as a percentage of total world currencies involved in economic activity. The amount of BTC in circulation at any one time is actually relatively low - it would take quite a lot for the amount of Bitcoin in circulation (which is not the same thing as the theoretical value of all BTC produced to date) to reach $1 billion. To reach $1 billion based on the amount of BTC in circulation today (roughly 30% of all BTC produced to date), BTC would need to be worth USD 333 each. This is not referring to the total value of the money supply? Are you sure? Title: Re: Our Competitions' Valuations Post by: Grinder on October 21, 2012, 09:53:51 PM This is not referring to the total value of the money supply? Are you sure? Yes, it is, it says so clearly on the Wiki page. repentance is wrong.Title: Re: Our Competitions' Valuations Post by: Wekkel on October 22, 2012, 08:43:19 PM Total money supply (including credit) stands at around 60-70 trillion USD. Given that most money exists only as electric digits nowadays with around 3% left as cash (coins and bank notes), that would render an amount of 1.8 trillion in cash.
And yes, Bitcoin can reach 1 billioin USD, depending on a whole lot of things (not in the least: human nature). Title: Re: Our Competitions' Valuations Post by: flipperfish on October 22, 2012, 08:46:49 PM I would go even further and say bitcoin will reach 1 billion USD market cap. Question is: When? ;D
Title: Re: Our Competitions' Valuations Post by: Korbman on October 23, 2012, 02:29:01 PM I would go even further and say bitcoin will reach 1 billion USD market cap. Question is: When? ;D Easy. Whenever we have over 20,000,000 coins in circulation and the value is greater than or equal to $50 :P :P Title: Re: Our Competitions' Valuations Post by: Vandroiy on October 25, 2012, 10:21:40 AM Just my opinion, I think it is reasonable to compare "raw" Bitcoins to M0 rather than higher-tier money supplies. Reality might be somewhere in between, but the apparent money in Banking should not be a good comparison.
If Bitcoin grows larger, the security and performance implications should create some sort of banking. Bitcoin loans already exist, people store coins on Gox or Silk Road or wherever. Such operations inflate the apparent Bitcoin money supply by some factor that is still rising. So, I'd prefer conservative figures like the ones Atlas gives instead of comparing the demand/supply for direct BTC -- the hardest currency the net has to offer -- to demand/supply for a massively inflated crazy-debt-loop-backed M-over-nine-thousand Euro or Dollar. |