aesma
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November 13, 2020, 11:01:08 PM Last edit: November 15, 2020, 06:56:56 PM by aesma |
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Funny advert. I think this is the kind of news (BTC marketcap) that can get people of all kinds interested in BTC. Including people with decent amounts of money. They wouldn't want to completely miss out on the hype. Let's say they already own some Tesla shares (incidentally also at a similar market cap), maybe they bought significantly cheaper than now, and feel smart about it. Well, if they look at BTC and don't own some, they'll feel dumb about that. It's still time to own a BTC or two just in case, and if they look long enough, they will notice that with BTC, there is no stock split, no emission of millions of new BTC, etc.
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Lucius
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November 14, 2020, 10:54:13 AM |
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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.
I think most will agree that his time is running out because he is about 90 years old, and he really has no reason to change his mind because he has so much money that he could not spend it to live another 90 years. Best of all, his predictions about BTC have shattered if we take into account what he said on the subject back in 2014. He is just a man who makes mistakes like everyone else, which includes completely wrong and failed investments.
Funny advert. Let's say they already own some Tesla shares (incidentally also at a similar market cap), maybe they bough significantly cheaper than now, and feel smart about it. Well, if they look at BTC and don't own some, they'll feel dumb about that.
It's funny how some turned out to be funny, because if you could buy something for a few hundred dollars and you didn't do it - now you're paying an astronomical price just to be a part of it. I say that this is one of the rare occasions when the little ones may have outplayed the big ones, because we have known for a long time the real potential of Bitcoin, and they only found out about it recently.
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posi
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November 14, 2020, 02:21:24 PM |
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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, you are right and I also thought about the same but I dont know how the article writer posted by the OP do their calculations because the total marketcap provided on cmc and coingecko says $296Billion which I believe the addition of some OTC trading capital could be the reason why they said the total Bitcoin cap is $300Billion.
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mersal (OP)
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November 14, 2020, 03:03:57 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. Marketcap mertic isn't really worth to be considered when it works as a cryptos but in reality cryptocurrencies are in use for investment purposes more than the payment options.If you agree that then marketcap is something to be considered and I am just saying thag now traditional investors may get convinced that bitcoin is something to be considered which was never in their mind when creator said bitcoin is going to change things in this world by enthusiasts.
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kryptqnick
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November 14, 2020, 03:12:41 PM |
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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-capMarket capitalization is important for a company, but Bitcoin isn't one. So I agree with those pointing out that if we compare it with Visa, we should have a look at the number of transactions per second, and I'd add the number of users to that. If we look at these characteristics, Bitcoin is way behind to seriously compete with them. Big marketcap means Bitcoin has high value per coin, but it doesn't signify what is it valued for. And apparently, it's value doesn't come from it being a decentralized payment medium, but instead comes from Bitcoin being a popular investment and something to trade. Not to mention that with BTC volatility, the marketcap can drop hard pretty easily, whereas other metrics give a more general idea.
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TalkStar
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November 14, 2020, 04:08:51 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. Next biggest crypto in the list is ethereum at the 199th place.
I have already read this news in another blog and no way to deny that bitcoin is competing strongly with all other businesses worldwide. If we talk about its overall assets price then i will say that, Its just the beginning and brighter days are waiting for its users. Except bitcoin other businesses are running under the shadow of their owners and getting optimum support from their government but what bitcoin is doing all just by its community power. After passing all obstacles, negativism, legality issues bitcoin is doing its best and if i am not wrong then entire world is admiring by seeing its stability in pandemic situation. Everyday new people are getting introduced with bitcoin and increasing the community. If it continues like this then we can expect much stronger position in the global market cap list.
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ufaiz50
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November 14, 2020, 04:12:33 PM |
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It can increase in value even more and significantly, which I do not rule out. Then we can really go to a record height. That would be nice for the stock market, and get an even stronger price / market share. First, move to the $ 20.000 and then the sky is the limit.
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taufik123
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November 14, 2020, 04:50:02 PM |
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-snip- After passing all obstacles, negativism, legality issues bitcoin is doing its best and if i am not wrong then entire world is admiring by seeing its stability in pandemic situation. Everyday new people are getting introduced with bitcoin and increasing the community. If it continues like this then we can expect much stronger position in the global market cap list.
This pandemic condition provides an opportunity for beginners to get to know bitcoin more and learn about it. The strength of bitcoin during the pandemic even made people who received stimulus from the government as capital to invest in bitcoin, this is the right time to introduce bitcoin more and continue to promote it. getting a good position in global cap is good news for botcoin. Investors will continue to arrive and more and more adoptions will be made.
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Sebas.tian
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November 14, 2020, 04:59:06 PM |
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It was inevitable. We expect bitcoin to get into the top 10.
Comparing Bitcoin as asset to others in the world doesn't seem good to me becasue most of them aren't digital assets, so, why comparing these assets?. Days ago the Bitcoin market-cap was reading $300+B which was another leap for the community, hope to see more market-cap which will push Bitcoin to the top first before 2021. Although, in term of transaction per se, other payment methods are more ahead of Bitcoin.
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fullhdpixel
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November 14, 2020, 06:05:55 PM |
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That’s really cool and I just hope that it keeps on maintaining that top position and keep on going up. I’m happy that the price has been going up lately and the market cap has also been increasing.
But, I have been noticing some technical analysis of some people saying that it will fall again, though I don’t want to believe that, because what I have had in mind from the beginning is that there is going to be a continuous growth till BTC reaches a new all time high price and market cap, something above the $20,000 mark before we start talking about whether it will go down or not.
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Lucius
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November 15, 2020, 11:01:01 AM |
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Yes, you are right and I also thought about the same but I dont know how the article writer posted by the OP do their calculations because the total marketcap provided on cmc and coingecko says $296Billion which I believe the addition of some OTC trading capital could be the reason why they said the total Bitcoin cap is $300Billion.
Market Cap is the amount you get by multiplying the total number of BTCs mined so far by the current price, so with the current numbers we get $296,737,992,354 ($16,006.69 x 18,538,368 BTC). MC should not be confused with trading volume which is actually difficult to calculate because it depends on the accuracy of the data provided by crypto exchanges, and what is happening in the OTC market is a complete unknown. According to some speculations, some have estimated that the OTC market is approximately equal to or even larger than the open market - in other words, background trading is very popular.
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bryant.coleman
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November 15, 2020, 01:27:04 PM |
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I am not in agreement with the current methodology which is used to calculate the market cap. IMO, lost coins should be completely excluded while calculating market capitalization. As per reliable estimates, there are close to 3 million lost coins (i.e those without private keys). Also, market cap should take in to account those coins which are not in free-float. Should we include coins which were mined in 2010, and not moved till now in the market cap calculation?
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sayaya17
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November 15, 2020, 02:03:30 PM |
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Yes, when you write this thread, bitcoin ranks 20th in the market capitalization based on assetDash. But now it’s down one rank to 21st. But this doesn’t matter because Bitcoin has an excellent performance as the most valuable digital currency with bitcoin’s rising market capitalization value, it could even beat a PayPal-class company is in 30th position. This situation is very proud considering the price of bitcoin can rise as fast as it falls. And my perception is also that the market capitalization price of Bitcoin will go up and down, unlike other assets. But Bitcoin still boasts that Bitcoin is still precious compared to large companies such as PayPal, Netflix, Coca-Cola, and Adobe.
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mersal (OP)
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November 15, 2020, 02:14:01 PM |
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I am not in agreement with the current methodology which is used to calculate the market cap. IMO, lost coins should be completely excluded while calculating market capitalization. As per reliable estimates, there are close to 3 million lost coins (i.e those without private keys). Also, market cap should take in to account those coins which are not in free-float. Should we include coins which were mined in 2010, and not moved till now in the market cap calculation?
Lost coins still plays a role in the value of the bitcoin per unit so I don't find any reason why it should be excluded from the total marketcap.And these are lost coins based on assumptions but still it can be accessed when the user gets their private keys.
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Fundamentals Of
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November 15, 2020, 02:23:34 PM |
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I am not in agreement with the current methodology which is used to calculate the market cap. IMO, lost coins should be completely excluded while calculating market capitalization. As per reliable estimates, there are close to 3 million lost coins (i.e those without private keys). Also, market cap should take in to account those coins which are not in free-float. Should we include coins which were mined in 2010, and not moved till now in the market cap calculation?
Lost coins still plays a role in the value of the bitcoin per unit so I don't find any reason why it should be excluded from the total marketcap.And these are lost coins based on assumptions but still it can be accessed when the user gets their private keys. Right, which makes everything a little bit confusing for Bitcoin. In Bitcoin's part, not everything is well accounted for. Lost coins are playing a role in the value of Bitcoin because it means the supply is much lower than what is being indicated. Those lost coins have value but those lost coins have no more owner. The value is limited to the possibility that it will be recovered or retrieved. If not, the value of those coins will be zero.
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coolcoinz
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November 15, 2020, 02:49:22 PM |
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I am not in agreement with the current methodology which is used to calculate the market cap. IMO, lost coins should be completely excluded while calculating market capitalization. As per reliable estimates, there are close to 3 million lost coins (i.e those without private keys). Also, market cap should take in to account those coins which are not in free-float. Should we include coins which were mined in 2010, and not moved till now in the market cap calculation?
Lost coins still plays a role in the value of the bitcoin per unit so I don't find any reason why it should be excluded from the total marketcap.And these are lost coins based on assumptions but still it can be accessed when the user gets their private keys. How are you going to measure the lost amount. AFAIK it's all based on estimations. We don't know how many coins were lost. Even if you assume that coins that weren't moved for the last 8 years must be lost, the same can be said about coins moved last year. There are wallets being lost and recovered every month, so dormant addresses are not an indication of lost coins. For me the situation with Bitcoin climbing up in the list of assets is completely normal. It's going to go much higher.
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GelatikKembar
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November 15, 2020, 03:10:25 PM |
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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-capLet's hope the bitcoin continuously increasing and to be legal on many countries. Theres many investor are happy because the price are ballooning. Many people wants to invest in bitcoin because of the potential earning. To be honest, Bitcoin does not need to be legalized, because cryptocurrencies are actually without regulations, regulations only make crypto currencies more difficult to get the world's attention, what must be regulated is about ICO, IEO and STO fundraising and of course about investing.
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NeilLostBitCoin
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November 15, 2020, 03:14:19 PM |
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I am not in agreement with the current methodology which is used to calculate the market cap. IMO, lost coins should be completely excluded while calculating market capitalization. As per reliable estimates, there are close to 3 million lost coins (i.e those without private keys). Also, market cap should take in to account those coins which are not in free-float. Should we include coins which were mined in 2010, and not moved till now in the market cap calculation?
I don't agree, there are more unlined bitcoin that is still in there, out of the market, how come they can compute the market cap? I don't know maybe this is only for me or I am right, but bitcoin will always be bitcoin and will top for me in case of market cap. nothing can beat bitcoin in everywhere.
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BrewMaster
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November 15, 2020, 03:50:58 PM |
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As per reliable estimates, there are close to 3 million lost coins
here is your problem, there is no such thing as "reliable estimates" there is only guesses that are very unreliable too. some of them are of course pretty good guesses but nothing more. that means you can't use them as a means to compute the total bitcoin circulating supply. i'm curious to know what you think about altcoin market caps which is the only metric that is used in ranking them these days? if you think it is bad in bitcoin wait to see how top altcoins have impossible to compute and even fake supplies...
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There is a FOMO brewing...
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Yamifoud
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November 15, 2020, 03:54:08 PM |
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No one had to expect this to happen, not even the creator of Bitcoin. It is likely we are seeing the outcomes of our continuous support since from the start. Now, it gonna be interesting these traditional investors are shifting to Bitcoin and let Warren Buffet realize that he was wrong. This it means that big companies are using Bitcoin now for the purpose to make a higher profit. This is also a way why PayPal is also willing to risk over Bitcoin.
But anyway, even Bitcoin doesn't get into the line and is one of the biggest assets, I'm still investing in Bitcoin and consider this as a valuable asset aside from traditional gold and silver.
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