The press has recently and incorrectly covered the rise of bitcoin with some giving it an incorrect valuation while quoting wall street valuations of the cryptocurrency. I think someone needs to inform the press of the true potential of bitcoin.
The press needs to recognize the following:
Quote from:
https://bitcointalk.org/index.php?topic=369943.0One has to look at all of the money worldwide. This has to include M1, M2, and M3 money.
Then one has to look at derivatives whice are a form of money used by the worldwide banking systems.
According to wikipedia there is about 70 trillion in M1, M2, and M3 including derivatives.
If one were also to include world debt that figure raises to about 700 trillion worldwide. World debt is comonly known to exceed 700 trillion dollars.
If Bitcoin were to have a valuation of just a fraction of the above amount, each bitcoin would have a value of over $ 1 million USD. If It were to get a moderate piece of the world monetary market each coin would have a valuation of up to $20 million USD each!
Do you think the press should be informed of the above? Or do you think their coverage of bitcoin's valuation is fair?
Do you think the presses total coverage of bitcoin fair or is it biased?
