XBT market cap exceeds 400 million

[dree12]

Briefly, the Bitcoin market cap exceeded $400 million USD. The market capitalization is an upper bound for the monetary base, as many coins are not in circulation. This is the first time Bitcoin's market cap exceeded $400 million USD.

This excess allows the Bitcoin system to transfer more money without impacting the market significantly. Only 0.1% of the market capitalization needs to be moved to purchase a house, for example. A higher market capitalization allows Bitcoin's economy to strengthen.

[zoinky]

Until tomorrow, when Mr. 350,000 BTC decides he wants to see what happens.

[Chalkbot]

This is the kicker I use to blow people's minds when explaining bitcoins for the first time. After they get an understanding of what it is, how it works, and why it's useful, I point out that the higher bitcoin value goes, the more useful it becomes as a protocol for transfering money.

[cypherdoc]

not so brief now. 

[Bit_Happy]

Almost exciting:
Too much speculation with only some real economy.

Lorem ipsum dolor sit amet the bubble, consectetur adipisicing elit, sed do you see the bubble? Eiusmod tempor incididunt ut labore et dolore magna aliqua bubbles burst. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat look at the happy bubble.     Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore bubble eu fugiat nulla pariatur.

[calian]

How'd we get this XBT thing? Shouldn't it be INB for (INternet/INternational Bitcoin) to follow the ISO convention?

[Melbustus]

Almost exciting:
Too much speculation with only some real economy.

Why are you so stuck on transactions? Bitcoin replaces gold's purpose. It can serve the same long-term store and settlements utility with almost no consumer day-to-day transaction economy....and it would be quite successful and valuable.

[Bit_Happy]

Why are you so stuck...

I just read this whole thread:
Official Gox / CoinLab Integration and Transition FAQ
https://bitcointalk.org/index.php?topic=148147.0;all

Bitcoin will need a real economy, especially after the USSA Gov shuts down CoinLab/USA MtGox and all that money/BTC is confiscated.

[Xendrios]

Why are you so stuck...

I just read this whole thread:
Official Gox / CoinLab Integration and Transition FAQ
https://bitcointalk.org/index.php?topic=148147.0;all

Bitcoin will need a real economy, especially after the USSA Gov shuts down CoinLab/USA MtGox and all that money/BTC is confiscated.

Would the USA boycot itself from bitcoin while the world adopts it? Seems like a dumb thing to do, at least in the long term. Basically becoming poor while all other countries run from fiat into bitcoin...