Atlas (OP)
Jr. Member
 Offline
Activity: 56
Merit: 1
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October 21, 2012, 05:52:44 PM |
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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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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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October 21, 2012, 06:01:08 PM |
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Planning on a Bitcoin Republic?  |
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fivemileshigh
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October 21, 2012, 06:21:23 PM |
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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 |
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Spekulatius
Legendary
Offline
Activity: 1022
Merit: 1000
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October 21, 2012, 06:53:50 PM |
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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? |
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Atlas (OP)
Jr. Member
Offline
Activity: 56
Merit: 1
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October 21, 2012, 08:32:40 PM |
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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%29I believe they are attributable due to market clout and total money circulation alone, though; an easy but crude calculation. |
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repentance
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October 21, 2012, 08:56:57 PM |
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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%29I 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.
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Akka
Legendary
Offline
Activity: 1232
Merit: 1001
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October 21, 2012, 09:08:06 PM |
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Planning on a Bitcoin Republic? |
All previous versions of currency will no longer be supported as of this update
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Atlas (OP)
Jr. Member
Offline
Activity: 56
Merit: 1
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October 21, 2012, 09:22:59 PM |
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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%29I 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? |
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Grinder
Legendary
Offline
Activity: 1284
Merit: 1001
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October 21, 2012, 09:53:51 PM |
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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. |
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Wekkel
Legendary
Offline
Activity: 3108
Merit: 1531
yes
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October 22, 2012, 08:43:19 PM |
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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
Sr. Member
Offline
Activity: 350
Merit: 251
Dolphie Selfie
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October 22, 2012, 08:46:49 PM |
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I would go even further and say bitcoin will reach 1 billion USD market cap. Question is: When?  |
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Korbman
Legendary
Offline
Activity: 1064
Merit: 1001
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October 23, 2012, 02:29:01 PM |
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I would go even further and say bitcoin will reach 1 billion USD market cap. Question is: When? Easy. Whenever we have over 20,000,000 coins in circulation and the value is greater than or equal to $50  |
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Vandroiy
Legendary
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Activity: 1036
Merit: 1002
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October 25, 2012, 10:21:40 AM |
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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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