This is getting serious ... Total CryptoCurrency Market Cap to $30 billion !!

[bitpump]

This is getting serious ...
Total CryptoCurrency Market Cap approaching $30 billion !!
https://coinmarketcap.com/charts/

[megashira1]

Once fiat can leave the system watch that drop to $24b

[ASHLIUSZ]

Once fiat can leave the system watch that drop to $24b

Recently the USD dollar fell in value. So this will cause a variation in the market capital, but the volume getting closer to $30 billion is something a good news to experience further growth. Fiat leaving the system is not a possible one as it's the base for every form of growth.

[Visin]

$30 billion is nothing, good progress for right now though.

[franky1]

market cap is bullcrap bubble number.

i can make an altcoin with 5 trillion coins.
put just 1 coin onto an exchange sell it to myself for $1..

thus my coins are now valued at $1 a coin.
making the market cam $5 trillion.


now for the bubble bursting info that blow people minds they will not like to admit to.

1. there is not $29billion in FIAT sat in exchange bank accounts to 'back' the valuations of all the coins in existance.
2. the price of a coin can ba manipulated easily.

it does not take $16mill to raise the price of bitcoin by $1 to make the bitcoin market cap rise by $16m
infact many times i have seen the bitcoin price rise by $1 by trading very little. even if that very little actually spent made the bubble market cap jump by $16m


its time people started to get out their calculators and see reality

[BrewMaster]

stop looking at marketcap, it is completely useless.
instead look at how bitcoin is being adopted and how that is growing day by day. for now the biggest news of these days is Japan and how they have fully adopted bitcoin as a legal currency and they are already on their way to becoming a bitcoin haven!
and soon more countries will follow.

[Hydrogen]

This infographic sums up my thoughts on this.



See that tiny dot above the words: "bitcoin $19 billion"?

That's bitcoin's market cap in comparison to the global economy which is pictured to the right of that.

 

market cap is bullcrap bubble number.

i can make an altcoin with 5 trillion coins.
put just 1 coin onto an exchange sell it to myself for $1..

thus my coins are now valued at $1 a coin.
making the market cam $5 trillion.

Be honest.

If it were that easy, everyone would do it.

Which means, its not that simple.

[bitpump]

so 1 bitcoin should be worth $1mio very soon !

[European Central Bank]

If it were that easy, everyone would do it.

Which means, its not that simple.

yes it is. check ripple in the early days. for some reason coinmarketcap listed the market cap when the developers were hoarding most of the numbered coins. it was the number two crypto for a long time. i don't know why coinmarketcap allowed that or listed ripple at all in the first place.

auroracoin was the same as well. no doubt many others are too.

[franky1]

market cap is bullcrap bubble number.

i can make an altcoin with 5 trillion coins.
put just 1 coin onto an exchange sell it to myself for $1..

thus my coins are now valued at $1 a coin.
making the market cam $5 trillion.

Be honest.

If it were that easy, everyone would do it.

Which means, its not that simple.

well the maths is that easy.

yes i simplified the bureacracy of getting a crap coin accepted into an exchange(separate offtopic debate).. but the maths of how the market cap is 'valued' is correct

[Denker]

This infographic sums up my thoughts on this.



See that tiny dot above the words: "bitcoin $19 billion"?

That's bitcoin's market cap in comparison to the global economy which is pictured to the right of that.

 

market cap is bullcrap bubble number.

i can make an altcoin with 5 trillion coins.
put just 1 coin onto an exchange sell it to myself for $1..

thus my coins are now valued at $1 a coin.
making the market cam $5 trillion.

Be honest.

If it were that easy, everyone would do it.

Which means, its not that simple.

This just shows how much upside potential Bitcoin and cryptocurrencies still have!! $19 billion isn't more than just a drop of water in the bucket!
Nice slide! Where's that from?
Do you attended some "Blockchain Conference"?  

[BitHodler]

Denker knows what to look at. Instead of people laughing at Bitcoin for being so tiny, you can better focus on how much growth you can realize through Bitcoin in the coming years.

I haven't been in Bitcoin back in the days, but I just think about how people have reacted back then when the market cap of Bitcoin touched the $1 billion mark for the first time. It must have been euphoric.

Other than that, I just focus on Bitcoin only and not on altcoins. Altcoins prices are heavily inflated and thus give a wrong impression of the total value. Also, Bitfinex traders buying at any cost is also inflating this number.

[taxmanmt5]

Bitcoin Market cap  alone is currently sitting around 20.2 billion. we're almost breaking last resistance of marketcap of 20.6 billion. if it does getting close.

[easynote]

so 1 bitcoin should be worth $1mio very soon !

lol that would be a nice value for my Bitcoin, I might not let it go for those dirty dollar bills!

[QuestionAuthority]

Understanding what market cap is would help.

Market capitalization (market cap) is the total market value of the shares outstanding of a publicly traded company; it is equal to the share price times the number of shares outstanding. As outstanding stock is bought and sold in public markets, capitalization could be used as a proxy for the public opinion of a company's net worth and is a determining factor in some forms of stock valuation.

If bitcoins price is $1 per btc and there are 16 million of them the market cap is 16 million. If Bitcoin price is $1000 per btc and there are 16 million of them the market cap is 16 billion.

Bitcoin currently costs $1,230 the market cap is $20 billion.

[franky1]

Understanding what market cap is would help.

Market capitalization (market cap) is the total market value of the shares outstanding of a publicly traded company; it is equal to the share price times the number of shares outstanding. As outstanding stock is bought and sold in public markets, capitalization could be used as a proxy for the public opinion of a company's net worth and is a determining factor in some forms of stock valuation.

If bitcoins price is $1 per btc and there are 16 million of them the market cap is 16 million. If Bitcoin price is $1000 per btc and there are 16 million of them the market cap is 16 billion.

Bitcoin currently costs $1,230 the market cap is $20 billion.

correct

if sh*tcoinX was $1 per sh*tcoinx and there are 5 trillion sh*tcoinx's then the market cap is $5trillion

the market cap is meaningless..

a better metric would be:
how many coins are on the market
how many coins per order line between $0 and current value

to show how much resistance there is to prevent the price going to $0

[AngryDwarf]

That's how market cap works in financial markets, or position valuations. It's amount held * market price. Of course, it you are a large position holder, you won't simply be able to dump everything at market price without ripping up the order book and getting less money than your original valuation.
So when $billions get wiped off or added to the valuation of stock markets frequently in a single day, it is just a movement in valuation. The amount traded to move that value might be more or might be less.

[abbyd]

Understanding what market cap is would help.

Market capitalization (market cap) is the total market value of the shares outstanding of a publicly traded company; it is equal to the share price times the number of shares outstanding. As outstanding stock is bought and sold in public markets, capitalization could be used as a proxy for the public opinion of a company's net worth and is a determining factor in some forms of stock valuation.

If bitcoins price is $1 per btc and there are 16 million of them the market cap is 16 million. If Bitcoin price is $1000 per btc and there are 16 million of them the market cap is 16 billion.

Bitcoin currently costs $1,230 the market cap is $20 billion.

correct

if sh*tcoinX was $1 per sh*tcoinx and there are 5 trillion sh*tcoinx's then the market cap is $5trillion

the market cap is meaningless..

a better metric would be:
how many coins are on the market
how many coins per order line between $0 and current value

to show how much resistance there is to prevent the price going to $0

It's strange, market cap is mostly used to measure stock valuations, not currencies. Wiki says, "market capitalization could be used as an indicator of public opinion of a company's net worth and is a determining factor in some forms of stock valuation". Others will argue that bitcoin is a commodity, and complicate things further.

Measuring daily volume is also a useful metric. Blockchain.info reports around $50 million per day. Much of this volume could be price propping.

An interesting development has been the rise of JPY in global exchange volume. At this point, EUR, CNY, JPY, and USD are all represented equally. I suspect bitcoin may already be a small scale hedge against currency fluctuations. Of course, bitcoin price fluctuations are much larger than forex.

[Nagadota]

Understanding what market cap is would help.

Market capitalization (market cap) is the total market value of the shares outstanding of a publicly traded company; it is equal to the share price times the number of shares outstanding. As outstanding stock is bought and sold in public markets, capitalization could be used as a proxy for the public opinion of a company's net worth and is a determining factor in some forms of stock valuation.

If bitcoins price is $1 per btc and there are 16 million of them the market cap is 16 million. If Bitcoin price is $1000 per btc and there are 16 million of them the market cap is 16 billion.

Bitcoin currently costs $1,230 the market cap is $20 billion.

correct

if sh*tcoinX was $1 per sh*tcoinx and there are 5 trillion sh*tcoinx's then the market cap is $5trillion

the market cap is meaningless..

a better metric would be:
how many coins are on the market
how many coins per order line between $0 and current value

to show how much resistance there is to prevent the price going to $0

It's strange, market cap is mostly used to measure stock valuations, not currencies. Wiki says, "market capitalization could be used as an indicator of public opinion of a company's net worth and is a determining factor in some forms of stock valuation". Others will argue that bitcoin is a commodity, and complicate things further.

Measuring daily volume is also a useful metric. Blockchain.info reports around $50 million per day. Much of this volume could be price propping.

An interesting development has been the rise of JPY in global exchange volume. At this point, EUR, CNY, JPY, and USD are all represented equally. I suspect bitcoin may already be a small scale hedge against currency fluctuations. Of course, bitcoin price fluctuations are much larger than forex.

It's mainly because when people started playing around with Bitcoin it was much too experimental to be viewed like a currency and market cap was the closest thing to a good fit.  Unfortunately market cap no longer makes sense when comparing it to fiat or even to gold, so we're left with this great big oversimplified remnant of the past with no better way of measuring Bitcoin's overall value.

[SyGambler]

as franky stated , market cap isn't accurate in a lot of altcoins markets
but in general considering only the top 50 coins we should have a good idea about the total cap , so yeah crypto is growing
personally I only care about the coins with 100m$ or more , basically the top 10 so far