mersal (OP)
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November 13, 2020, 08:18:10 AM |
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Yes, you heard it right now Bitcoin becomes the 20th in the biggest assets by marketcao vakue which crossed $300 Billion due to the recent bullish trend on the crypto market.And more importantly bitcoin's market cap value is over the PayPal's market cap value.This analysis was made by the site called Assetdash which keeps tracks the data of global assets. But bitcoin yet to cross over the two biggest payment processing companies like Mastercar and Visa which are at 18th and 11th respectively. Next biggest crypto in the list is ethereum at the 199th place. So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble? Reference: https://decrypt.co/47498/bitcoin-is-now-the-20th-biggest-asset-by-market-cap
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GreatArkansas
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November 13, 2020, 08:46:22 AM |
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About Bitcoin being compare with payment processors companies just like Visa and Mastercard, it's kinda far from Bitcoin if we only talk about transactions, since Visa got around 65,000 transactions per seconds while Bitcoin got only around 4.5 transactions per seconds. But I am not being negative on Bitcoin, there are just some part that these payment processors are really different with Bitcoin.
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Darker45
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November 13, 2020, 12:38:18 PM |
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Bitcoin's market cap is very unstable. It rises as quickly as it falls. So while I don't agree in calling Bitcoin a seasonal bubble, its entering in the top 20 biggest assets by market cap is probably not as consistent as the other companies mentioned.
It is hard for Bitcoin to maintain a rank in this list which is predominantly composed of traditional markets. It's not like companies whose market caps basically reflect their overall performance. In Bitcoin's case, it all purely depends on the demand.
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Husires
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November 13, 2020, 01:38:06 PM |
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Market capacity does not give much information because it changes strongly according to price movement. Therefore, we cannot say that bitcoin will maintain this market capacity. Part of this capacity is fake because many platforms fake trading volumes to look as if they contain more liquidity and attract more clients. After some regulation occurs, we will see much less market capacity, but then demand and supply will increase further.
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mersal (OP)
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November 13, 2020, 02:10:49 PM |
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About Bitcoin being compare with payment processors companies just like Visa and Mastercard, it's kinda far from Bitcoin if we only talk about transactions, since Visa got around 65,000 transactions per seconds while Bitcoin got only around 4.5 transactions per seconds. But I am not being negative on Bitcoin, there are just some part that these payment processors are really different with Bitcoin.
Bitcoin isn't perfect system but it has its own advantage which maybe preferred by the users when they realize the importance of it.But top 20th spot is something great for the crypto community to give more confidence for them while holding bitcoins.
Bitcoin's market cap is very unstable. It rises as quickly as it falls. So while I don't agree in calling Bitcoin a seasonal bubble, its entering in the top 20 biggest assets by market cap is probably not as consistent as the other companies mentioned.
It is hard for Bitcoin to maintain a rank in this list which is predominantly composed of traditional markets. It's not like companies whose market caps basically reflect their overall performance. In Bitcoin's case, it all purely depends on the demand.
Its not about reaching the first rank or higher rank from 20th place but we can say that bitcoin is not something which can be eliminated from the global economy from now on. Well value of bitcoin is more accurate and transparent compared to other companies because the value got from demand and supply and easily accessible for everyone.
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lifeforcepools
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November 13, 2020, 02:22:51 PM |
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It was inevitable. We expect bitcoin to get into the top 10.
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ethereumhunter
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November 13, 2020, 02:37:42 PM |
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So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble?
Not yet. The investors need to know more details about bitcoin so that they can invest in bitcoin. Bitcoin price is not unstable, and that is the big concern from the investors if they want to invest in bitcoin. The global economy still needs money to solve the problem, and it needs more time for all countries to use bitcoin. But we need to see what will happen after that because bitcoin's journey still has a long time.
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Coyster
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November 13, 2020, 02:46:03 PM Merited by nelson4lov (1) |
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So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble?
As for changing the global economies which has plunged so much this year, Bitcoin can't change anything about that, mind you that the economy relies more on traditional institutions rather than bitcoin, which is dex and can't be controlled by any third party. Having said that, Bitcoin is obviously not a "seasonal bubble", anyone who thinks that way is prolly just being anti-bitcoin, or is ignorant of Bitcoins development since it was created. Traditional investors choose their investments based on what suits them, Warren Buffet for example doesn't invest in Bitcoin, cause he doesn't consider it his kind of investment asset. The news is big for Bitcoin holders and firms that have adopted Bitcoin either as a reserve asset or an investment plan.
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Lucius
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November 13, 2020, 03:04:48 PM |
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Some can hardly imagine how much it is actually $300 billion, but we need to know that every billion is actually 1000 millions. That’s a lot of money, but if we look in some other contexts than it really isn’t, because the often mentioned gold has a market cap of about $9 trillion - and 1 trillion is 1000 billions. Let's say that Bitcoin will come on the radar of many people and institutions only when the news comes that it has reached that magical $1 trillion market cap. At the moment, we would need a price of around $50 000 for that, and as BTC has moved forward, let no one be surprised if that happens over the next year. So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble?
We are witnessing some long-time challengers of Bitcoin ideas changing their minds and there will surely be more of them as time goes on. Still, some will end up in the grave rather than change their minds, but that is still their problem. Source
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hatshepsut93
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November 13, 2020, 04:32:45 PM |
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Marketcap is one of the most useless metrics for Bitcoin, the fact that Bitcoin's supply multiplied by the market price does not affect us in any meaningful way. You can't tell people who aren't into Bitcoin that it's the 20th biggest asset and expect from them anything than a big yawn. Bitcoin's adoption, usability in the real world, new features, network security and resilience - that's what important. The price isn't a direct and objective reflection of those things, we have seen $4,000 and $16,000 this year, without any big fundamental changes - just pure speculation.
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avikz
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November 13, 2020, 04:56:23 PM |
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So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble? Is it the goal of bitcoin, to win over the trust of traditional market investors and change the global economic structure? I don't think so! Bitcoin was never created to take over the traditional markets or even change the current economic structures. It is impossible for a single currency system to achieve such a huge task! It's indeed a great news that bitcoin is the 20th biggest asset by the market cap but that's not possible for bitcoin to change the economic structure of the world unless there is a nuclear war where majority of the human population is wiped. In a nutshell, the world order needs to fail before bitcoin can take over and that's highly unlikely to happen!
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ChiBitCTy
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November 13, 2020, 05:31:56 PM |
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It's amazing to see how far bitcoin has come over these past few years. I remember finding bitcoin back in 2014 at some point, and being instantly fascinated, but I wasn't sure if it could ever "blow up" like it has now. I wasn't sure that an overall uneducated society would realize the benefits of cryptography and cryptocurrency. I am glad I was wrong!
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passwordnow
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November 13, 2020, 08:13:30 PM |
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So what is your view on these guys? Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble?
In the long run, it will. But if those die-hard traditional investors don't like to dive to bitcoin, it won't just happen even bitcoin goes to the top 5 biggest global assets. We don't have to impress them and convince them though. But time will come that there will be several changes in their minds and bandwagoning.
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posi
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November 13, 2020, 08:17:06 PM |
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First, this is a good announcement and it proves that the journey of Bitcoin mainstream has already started. About Bitcoin being compare with payment processors companies just like Visa and Mastercard, it's kinda far from Bitcoin if we only talk about transactions, since Visa got around 65,000 transactions per seconds while Bitcoin got only around 4.5 transactions per seconds. But I am not being negative on Bitcoin, there are just some part that these payment processors are really different with Bitcoin.
I know you're not being negative on Bitcoin because you actually mentioned the weakness of Bitcoin but I think it because you dont notice that despite the fact that Bitcoin process 4.6 transactions per seconds none of the project like ETH, Tron, XRP etc that process thousands of transactions per second were able to dethrone Bitcoin even the government when they are against. That's because Bitcoin it special it not always about TPS but the potential and the bond it has.
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stompix
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November 13, 2020, 08:42:59 PM |
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But bitcoin yet to cross over the two biggest payment processing companies like Mastercar and Visa which are at 18th and 11th respectively.
Comparing assets with the numbers of users of a company product... Ford is ranked below Ferrari, but they produce a hundred times more cars than them. Why don't you compare bitcoin with something that matches its characteristics? Oh, wait, there is none, so can we stop with those already? After some regulation occurs, we will see much less market capacity, but then demand and supply will increase further.
The whole thing you mentioned about volume driving price up is not real, we had volume records even while going down, the number 3 in terms of $ value is the drop from march this year, price fluctuations drive volume up not the other way around. Anyhow, I'm really curious how will this supply and demand thingy will increase faster...
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Vaskiy
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November 13, 2020, 09:09:18 PM |
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Even before the market turning bullish it even touched the top order in terms of market cap. By the time I think it reached the sixth place based on its marketcap. The position keeps moving as the market is highly fluctuating. Marketcap falling below 20th position isn't gonna contribute anything big to the market. If the trend change, parallel to that will be the marketcap.
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mersal (OP)
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November 13, 2020, 09:09:28 PM |
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We are witnessing some long-time challengers of Bitcoin ideas changing their minds and there will surely be more of them as time goes on. Still, some will end up in the grave rather than change their minds, but that is still their problem. SourceYes, Warren Buffet can be the best investor in that modern world but it doesn't mean he is going to be right with every opinion which doesn't fall under his category. Who knows maybe in the next couple of years he may recognize that bitcoin is something which he was wrong about his predictions.
It's amazing to see how far bitcoin has come over these past few years. I remember finding bitcoin back in 2014 at some point, and being instantly fascinated, but I wasn't sure if it could ever "blow up" like it has now. I wasn't sure that an overall uneducated society would realize the benefits of cryptography and cryptocurrency. I am glad I was wrong!
At least we are ready to accept it. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Which will be helpful for us to get the benefits of bitcoin sooner than mass people finds it.
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20kevin20
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November 13, 2020, 09:24:33 PM |
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Do you believe that this increase can change the global economic structure and convince the traditional investors that Bitcoin is nit just a seasonal bubble?
I'm sorry but traditional investors are quite silly if they see an insanely successful asset such as Bitcoin as a "seasonal bubble". To me, market cap isn't worth that much when it comes to asset comparisons. I value other characteristics way more than mcap. First, this is a good announcement and it proves that the journey of Bitcoin mainstream has already started.
I don't think market cap is directly proportional to the mainstream adoption. These two don't go that way. Yes, Warren Buffet can be the best investor in that modern world but it doesn't mean he is going to be right with every opinion which doesn't fall under his category. Who knows maybe in the next couple of years he may recognize that bitcoin is something which he was wrong about his predictions.
A lot of people see him as if he's some kind of God. Same goes for a lot of other successful people. Success doesn't make you right/perfect. We're all humans and I personally see following others and letting yourself be influenced by them as a quite sad way of thinking. I'd rather think on my own and commit my own mistakes.
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AbuBhakar
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November 13, 2020, 09:25:50 PM |
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Even before the market turning bullish it even touched the top order in terms of market cap. By the time I think it reached the sixth place based on its marketcap. The position keeps moving as the market is highly fluctuating. Marketcap falling below 20th position isn't gonna contribute anything big to the market. If the trend change, parallel to that will be the marketcap.
Many already said it's not a good basis as it moves differently anytime, however having listed can make others use bitcoin too especially if they are not believer and somehow always see bitcoin being listed along with known companies then they can do research on their own and see how the can benefit from having bitcoin as an asset.
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