Bitcoin Forum

The title depicts what the exchange rate needs to be for Bitcoin to have a market cap of $10B.

Calculated: $10,000,000,000/13,227,375 BTC = $756.01 US

I'll update the thread's title periodically.

~Bruno Kucinskas

Would you care to explain why bitcoin need to have a market cap of $10B?
Why this magic number?

He would just love a 10 billion dollar market cap.

who says the Bitcoin have a market cap of $10B?

He's implying that the price of a single bitcoin will have to be 756.11 for the market cap to hit 10,000,000,000 dollars.

There are 13,000,000+ mined so far.

10 billion will be a nice number for blogs and newspapers

Arbitrary numbers are boring. Nobody reads newspapers to read about numbers. People read newspapers with stories about violence and scandal. I would rather hear about the Bitcoin CEO being the terrorist mastermind behind The Honey Boo Boo show.

not everyone lives in the usa

I'm pretty sure the number 10,000,000,000 written that way would catch anyone into reading the article.

Future Headlines: Bitcoin's Market Cap Once Again Breaks 1,000,000,000,000 US Cents Wall

The title and OP have been updated.

Wrong.

Instead of tracking a 10B market cap, you could track something like the market cap of various tech and money transfer companies.  You should also use all 21 million coins in your magic number, since people already know they will exist and the market has theoretically already corrected for their presence.

Market Cap = 1 BTC price

MoneyGram = $36
Western Union = $440
Twitter = $1,380
GLD ETF = $1,538
SPY ETF = $8,231
Facebook = $9,517
Apple = $29,454

When you are investing you notice the market cap has gone below or above another billion. The ten billion mark is a big marker, like when the price of an individual bitcoin goes below or above another hundred dollars.

There are 3600 new Bitcoins around every day.
And we know not all Bitcoins are avaliable on exchanges(some are missing for one reason or another, etc), so the true ammount of money needed to be pumped into exchanges is lower than the difference 10B - current market cap.

The fact many things happen outside of exchanges makes me don't take the market cap number too seriously, to tell the truth.

To tell the truth, no one really cares whether or not you or I take the market cap seriously. It just is. Every OTC activity affects the price on exchanges anyway. If there are more people willing to sell OTC than there are buyers, then they go and sell on exchange, lowering the price. If the reverse is true, price on exchanges rises. If the price is stable, it means OTC deals are more or less balanced in supply-demand which means it is a fair price.

Gold = $352,525
Tax haven bank accounts = $1,428,571    (Source: RunToGold.com (http://www.runtogold.com/2012/12/during-2012-fiat-currencies-and-gold-collapse-against-bitcoin/))

Calculated: $10,000,000,000/13,227,375 BTC = $756.01 US

The title has been updated.

When bitcoin will hit the market cap of Apple the value will be much higher than today, and it won't stop there.

Ok I got the magic number but when we will reach again that price?

October 12th 2014

I'd be all in for it to have such a market cap today. But to be honest, the market cap of Bitcoin (and other currencies) doesn't really say that much. It definitely isn't a measure of how much money has 'gone' into Bitcoin. Even a much smaller amount would move Bitcoin's price a lot!

If you're looking at calculations of how much money may go into Bitcoin if several amounts (M1, M2, etc.) or fractions thereof are being represented by Bitcoin, you'll see that we would be in for an incredible market cap! I think 10b is still quite low for Bitcoins potential!

It was 12 billion. It will cross that, though it will take time. Just relax.

New all time high would be the magic number if by magic number the OP means media coverage ?

It was 13. And it won't ever get close to that again.

That would almost be worth a wager, except terms like "ever" are too vague. Care to make that statement more specific, like within a timeframe?

You could also start publishing dates.
Date at which bitcoin market cap will reach $10Bn, assuming the price remains unchanged.  ;D

Bitcoin could easily reach 100B market cap once companies start paying workers in btc.

Don't forget a lot of the coin has gone missing and lost and the total supply of btc will be mined in just a few years.

Well, only if government legalise bitcoin, if not you can't pay your workers in btc. Its illegal..

Not the total supply of bitcoins, but at least the majority of them. If nothing changes in the code, I think all the coins should only be mined by around 2140.

According to coinmarketcap.com, the peak was $13,581,426,363.75.

$13,581,426,363.75 / 13,227,375 = $1026.77

Nice, but I say december 12th 2014  8)

And would any of you say why? Anyone can throw out dates like that, but is there anything happening around that time that would give you the idea bitcoin is going up?

I guess this is just speculation. I believe that BTC price will fall around December and just before as people start cashing out for the festive season. Expect a surge in prices only post the holiday season IMO.

We need to be patient and hold fort, post the holiday season, i see the price climbing and going up higher around March due to salary increments which are due round about then. My 2 satoshi!  ;D

In 2011, there was a big pump from the middle of November through the middle of January. In 2012, there was a good upswing in November, then it was flat through December, then started to shoot to the moon the first week of January. In 2013, it actually shot up all the way to the current ATH by November 30th, then started to slide in December. So, I really see no historical evidence from the last three years that definitively backs up the idea of people "cashing out for the festive season".

I actually predict a further drop in the price over December, when hoarders start buying Xmas gifts and exchanges are flooded with more coins.  :(

Only thing that would stop that from happening, is if many more new consumers start to switch to BTC increasing the demand. 

Makes no sense whatsoever

10 billion dollar market cap is pretty low for me!

What about the number of pirates? It has been shown to be statistically correlated to the price of various commodities... perhaps we should all start drinking grog.

I love both of these posts.   The first considers Bitcoin as a technology and/or service and the second as money. 

I think this is part of the problem with bitcoin.  Is it money, is a service, is a platform, and ecosystem?  Well...... the answer is it is all of these things, but the trick is to understand where it will draw its underlying value. 

The magic number is $640, and we seem to be getting there.  8)

Wow, nice thread. I really like the idea of keeping track how much progress we still have to make till we get to that magical $10 billion market cap. I'm sure it's going to be very soon :)

@Ognasty love the idea. The comparison should be interesting.

there's that much money in tax haven bank accounts?

never knew.

just to be clear, that's just money sitting in the bank right, not invested or anything, liquid cash?

Well, you're right, and that number continues to grow, even at this time the price was higher. I guess the price of bitcoin will not cease to accrue for now, I do not know what happened but it was really good

We'll reach the 10 billion market cap but I'm not sure when, probably after the halving. Surely we can't reach 700 before?

that was for 2014, right now we need BTC @ us$645  to reach 10B market cap,  that will for sure happen any time now( next week!).

highest market cap ever reached was $13.9 billion

we're getting petty close to crush that.

We would need a 50% appreciation to reach that level.
I wouldn't call that pretty close.  :)
I do believe that we will eventually get there..

*Will update thread title periodically*
Are you seriously gonna update the title every block

Ermahgah. Light bulb. We need an app like btc-priceimg for this!