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Author Topic: Parity watch -> Who's next?  (Read 56364 times)
Mageant
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March 31, 2013, 07:23:29 PM
 #101

What about the idea of comparing transaction volume to other payment processors?

Paypal has a transaction volume of about 16 billion US$ per year.

Bitcoin's current transaction volume is about 300,000 BTC per day. If we assume a market price of 90$ that would add up to about 10 billion US$ per year.

So if Bitcoin usage and price stays at least at the current level then it is already 62% of Paypal.


The parity price for Paypal (assuming transactions stay at least the same) would be:
147$

Of course a significant amount of usage for Bitcoin is exchanging for Fiat currency while Paypal is almost all for goods and services.

A lot of those BTC are change too.

I already selected the statistic from blockchain.info which attempts to subtract out the change sent back to the sender.

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dree12
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March 31, 2013, 08:24:36 PM
 #102

What about the idea of comparing transaction volume to other payment processors?

Paypal has a transaction volume of about 16 billion US$ per year.

Bitcoin's current transaction volume is about 300,000 BTC per day. If we assume a market price of 90$ that would add up to about 10 billion US$ per year.

So if Bitcoin usage and price stays at least at the current level then it is already 62% of Paypal.


The parity price for Paypal (assuming transactions stay at least the same) would be:
147$

Of course a significant amount of usage for Bitcoin is exchanging for Fiat currency while Paypal is almost all for goods and services.

This is off by an order of magnitude. It is $165 billion USD per year.
Mageant
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March 31, 2013, 10:09:48 PM
 #103

What about the idea of comparing transaction volume to other payment processors?

Paypal has a transaction volume of about 16 billion US$ per year.

Bitcoin's current transaction volume is about 300,000 BTC per day. If we assume a market price of 90$ that would add up to about 10 billion US$ per year.

So if Bitcoin usage and price stays at least at the current level then it is already 62% of Paypal.


The parity price for Paypal (assuming transactions stay at least the same) would be:
147$

Of course a significant amount of usage for Bitcoin is exchanging for Fiat currency while Paypal is almost all for goods and services.

This is off by an order of magnitude. It is $165 billion USD per year.

oops...
so x10
so parity price would be about 1470$

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SgtSpike
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April 01, 2013, 05:11:07 AM
 #104

What about the idea of comparing transaction volume to other payment processors?

Paypal has a transaction volume of about 16 billion US$ per year.

Bitcoin's current transaction volume is about 300,000 BTC per day. If we assume a market price of 90$ that would add up to about 10 billion US$ per year.

So if Bitcoin usage and price stays at least at the current level then it is already 62% of Paypal.


The parity price for Paypal (assuming transactions stay at least the same) would be:
147$

Of course a significant amount of usage for Bitcoin is exchanging for Fiat currency while Paypal is almost all for goods and services.

This is off by an order of magnitude. It is $165 billion USD per year.

oops...
so x10
so parity price would be about 1470$
I'd be ok with that.  Wink
chriswilmer
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April 01, 2013, 01:46:50 PM
 #105

Update to Cambodia!
Chalkbot
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April 01, 2013, 04:07:30 PM
 #106

So, how many countries have we passed so far?
mccorvic
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April 01, 2013, 04:09:10 PM
 #107

Looks like we're aiming for Laos now.

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April 01, 2013, 04:18:12 PM
 #108

YAY quickly skipped Niger,  briefly visited Cambodia and Suriname,  watching for Laos now

Cambodia



Suriname:




Laos, you are the next stop



Laos has been surpassed. You need to update the parity values based on latest number of total coins (10978925 atm)

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April 02, 2013, 02:02:32 AM
 #109

Any ETA for when we arrive in the G77, G20?

https://en.wikipedia.org/wiki/Group_of_77

Could ask for a "seat at the table" of UN for the lulz ...

or the G-24 ??

https://en.wikipedia.org/wiki/Group_of_24

Quote
The Group of 24 (G24), a chapter of the G-77, was established in 1971 to coordinate the positions of developing countries on international monetary and development finance issues and to ensure that their interests were adequately represented in negotiations on international monetary matters.

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April 02, 2013, 02:35:49 AM
 #110

Any ETA for when we arrive in the G77, G20?

https://en.wikipedia.org/wiki/Group_of_77

Could ask for a "seat at the table" of UN for the lulz ...

or the G-24 ??

https://en.wikipedia.org/wiki/Group_of_24

Quote
The Group of 24 (G24), a chapter of the G-77, was established in 1971 to coordinate the positions of developing countries on international monetary and development finance issues and to ensure that their interests were adequately represented in negotiations on international monetary matters.

I'm already there representing Bitcoin, don't worry Smiley

I'll take a picture on Wednesday.

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April 02, 2013, 06:24:46 AM
 #111

How come japan has so much M1 money?! Shocked
6.735 trillion USD ?! Roll Eyes

Mageant
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April 02, 2013, 09:08:02 AM
 #112

How come japan has so much M1 money?! Shocked
6.735 trillion USD ?! Roll Eyes

They have a lot debt.

Debt = money in the fiat world.

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Thunderstriker
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April 02, 2013, 02:22:36 PM
 #113

M1 Parity check updates every 30 min ... still working on making it look nice Smiley
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April 02, 2013, 07:50:17 PM
 #114

That was quick.   Grin  The all time high is now 115.

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April 02, 2013, 08:08:26 PM
 #115


https://www.cia.gov/library/publications/the-world-factbook/rankorder/2214rank.html

Code:

M1                 Parity point      Country
$100,900,000,000.00 $9,190.31 United Kingdom

think the CIA figure for UK M1 must be off by a factor of 10 or else UK is even more messed up than I can believe.
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April 02, 2013, 08:18:03 PM
 #116

I guess it is the later. Not a big surprise considering that Brits were pushed out of every biz except selling their houses to each other.

I think it must be wrong. Compare to other EU countries of similar population (i.e. Italy, France). M1 for Ireland is more than UK even though population is less than 1/10th the size.

$100,900,000,000.00/62 million (rough UK population) leaves just over $1600/person. Seems way too low.

P.S.
enjoy this thread. sorry to dis-rail it slightly.
dree12
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April 02, 2013, 08:19:25 PM
 #117

I guess it is the later. Not a big surprise considering that Brits were pushed out of every biz except selling their houses to each other.

I think it must be wrong. Compare to other EU countries of similar population (i.e. Italy, France). M1 for Ireland is more than UK even though population is less than 1/10th the size.

$100,900,000,000.00/62 million (rough UK population) leaves just over $1600/person. Seems way too low.

M1 includes pretty much only cash. Money stored in bank accounts is not included.
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April 02, 2013, 08:54:35 PM
 #118

Armenia is old story now, a few minutes later we are already looking forward to visit to exotic Botswana




so exotic...  Undecided

 Cheesy

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April 02, 2013, 09:11:04 PM
 #119

M1 includes pretty much only cash. Money stored in bank accounts is not included.

M1 = bank accounts + cash.

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dree12
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April 02, 2013, 09:14:28 PM
 #120

M1 includes pretty much only cash. Money stored in bank accounts is not included.

M1 = bank accounts + cash.
Hmm, I stand corrected.

In that case, shouldn't we be including approx. 1.5 million BTC deposited into Bitcoin's M1?
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