Parity watch -> Who's next?

[cypherdoc]

i love all the beautiful pictures! 

it's like touring the world thru the lens of Bitcoin 

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[caveden]

Cool thread!

But why M1? Why not M0, since in Bitcoin there's no fractional reserve banking (Bitcoin M0 == M1). I think it's more reasonable... The "market cap" is the Bitcoin's monetary base times its unit price.
EDIT: The point I'm trying to make is that, currently, for Bitcoin, M0==M1==M2==M3, i.e., Bitcoin has no monetary aggregates since it has no fiduciary money. But if one day Bitcoin start having some fiduciary money, the so called "market cap" (number of issued coins X price) would represent Bitcoin's M0, not its M1. So I'd say it's more reasonable to compare it with countries' M0 (also called monetary base).

Bitcoin's M0 is already larger than that of Iceland and certainly many others.

[Stephen Gornick]

So I'd say it's more reasonable to compare it with countries' M0 (also called monetary base).

From another thread:

Monetary base for Bitcoins is 10.9 million BTC. The monetary base for Bitcoins has to be denominated in BTC, not dollars.

Bitcoin has no "market cap" since it is an asset, not a security that has been capitalized.

The Total Dollar Valuation (TDV) is the purchasing power equivalent of those 10.9 million BTC.

It is the TDV that is approaching (and then exceeding) the TDV of these foreign currencies named in this thread.

TDV isn't a commonly used phrase, but market cap and M0 are.  Doesn't make it the correct term to use though.

[caveden]

It is the TDV that is approaching (and then exceeding) the TDV of these foreign currencies named in this thread.

My point is that this thread is comparing Bitcoin's M0 TDV with these countries M1 TDV. Comparing against countries M0 would be more coherent (and would make the list much larger ). But I did not find a ranking of countries per M0....

[Ozymandias]

Congo parity achieved!

[KTE]

ceveden, Bitcoin's M0 is also its M1, M2 and M3.

[oakpacific]

Just a quick note: We're on parity with the Democratic Republic of Congo, which is somehow not what the word "Congo" is traditionally used to refer to in the international politics(that would be the Republic of Congo), in fact it was known as Zaire about a decade ago, maybe we should somehow distinguish between the two.

[BTC Books]

from Democratic Republic of Congo we are traveling to Niger...

Let's move on to Cambodia, shall we?

That water doesn't look inviting.

[Bowjob]

I want parity watch -> the world

[BTC Books]

we could write a few nigerian letters meanwhile

Hello Friend:

I am the exiled Prince Vladimir, last of the Romanoff's.  I am in dire need of your help in getting my Bitcoin fortune out of Nigeria, where I am kept under house arrest with only my dog and my internet connection.  If I could send you all of my Bitcoins - asking only a small amount from you as testament to your good faith...

[caveden]

ceveden, Bitcoin's M0 is also its M1, M2 and M3.

I know, read my first post in this thread.

But countries M0s are not the same as their M1. It would be more reasonable to compare with their M0, since the day Bitcoin start to have fiduciary money, it will have aggregates that are larger than this so-called "market cap". And btw, if you compare with M0, we've already passed much more countries, since M0 <= M1.

I did not find a ranking of countries per M0 TDV though....

[Mageant]

I think a list of parity prices with payment processors would be useful (Square, Paypal, Visa, etc.).

[||bit]

Anyone else feel that tingly feeling?

It's probably just the pizza.

[db]

But why M1? Why not M0, since in Bitcoin there's no fractional reserve banking (Bitcoin M0 == M1). I think it's more reasonable... The "market cap" is the Bitcoin's monetary base times its unit price.
EDIT: The point I'm trying to make is that, currently, for Bitcoin, M0==M1==M2==M3, i.e., Bitcoin has no monetary aggregates since it has no fiduciary money. But if one day Bitcoin start having some fiduciary money, the so called "market cap" (number of issued coins X price) would represent Bitcoin's M0, not its M1. So I'd say it's more reasonable to compare it with countries' M0 (also called monetary base).

Bitcoin's M0 is already larger than that of Iceland and certainly many others.

The Bitcoin "market cap" is indeed the same thing as M0. But, because of its convenient nature, Bitcoin may never get much bank money. Fiat currencies on the other hand have most of their transactions made with bank balances. It may be fair to compare the money that is actually used in transactions, M0 for Bitcoin and M1 for fiat.

[dree12]

we could write a few nigerian letters meanwhile

Just pointing out that Niger and Nigeria are not the same thing. One from Niger is called Nigerien.

[oakpacific]

I am waiting for the day when two pizzas will be worth a whole nation.

[BTC Books]

I am waiting for the day when two pizzas will be worth a whole nation.

Well, according to ounce.me, the Pizza Index is currently $940,207.94.  Taking that as a sort of 'Pizza Market Cap' seems reasonable.  Perhaps Vladimir will add the PMC to his Parity Index.  At roughly 0.1% of the Parity Index, it's sort of a 'milliCap'.

[chrsjrcj]

Niger, not to be confused with Nigeria to the south:

[mccorvic]

Lulz, I think someone at Fox saw this thread: http://www.foxnews.com/tech/2013/03/29/digital-currency-bitcoin-surpasses-20-national-currencies-in-value

The whole article is pretty much one huge dump about everything bitcoin and only the first paragraph being relevant to the national currency thing, but funny none the less.

[damnek]

Back to Togo.