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Author Topic: Our Competitions' Valuations  (Read 1381 times)
Atlas
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October 21, 2012, 05:52:44 PM
 #1

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?
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ElectricMucus
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October 21, 2012, 06:01:08 PM
 #2

Planning on a Bitcoin Republic?  Smiley

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
fivemileshigh
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October 21, 2012, 06:21:23 PM
 #3

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

Spekulatius
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October 21, 2012, 06:53:50 PM
 #4

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?
Atlas
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October 21, 2012, 08:32:40 PM
 #5

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?
Wikipedia with no apparent citations: http://en.wikipedia.org/wiki/Circulation_%28currency%29

I believe they are attributable due to market clout and total money circulation alone, though; an easy but crude calculation.
repentance
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October 21, 2012, 08:56:57 PM
 #6

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?
Wikipedia with no apparent citations: http://en.wikipedia.org/wiki/Circulation_%28currency%29

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.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
Akka
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October 21, 2012, 09:08:06 PM
 #7

Planning on a Bitcoin Republic?  Smiley

http://bitcoinisland.org/

All previous versions of currency will no longer be supported as of this update
Atlas
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October 21, 2012, 09:22:59 PM
 #8

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?
Wikipedia with no apparent citations: http://en.wikipedia.org/wiki/Circulation_%28currency%29

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?
Grinder
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October 21, 2012, 09:53:51 PM
 #9

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.
Wekkel
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October 22, 2012, 08:43:19 PM
 #10

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).

                                 
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flipperfish
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October 22, 2012, 08:46:49 PM
 #11

I would go even further and say bitcoin will reach 1 billion USD market cap. Question is: When?  Grin
Korbman
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October 23, 2012, 02:29:01 PM
 #12

I would go even further and say bitcoin will reach 1 billion USD market cap. Question is: When?  Grin

Easy. Whenever we have over 20,000,000 coins in circulation and the value is greater than or equal to $50  Tongue  Tongue

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October 25, 2012, 10:21:40 AM
 #13

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.
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