Bitcoin Becomes 12th Largest Asset Worldwide by Valuation, Surpassing Visa

[BADecker]

The price of Bitcoin seems to be showing that Bitcoin is something stable like gold or silver, erc.  The problem is twofold:
1. how to make Bitcoin to be better known among the population, so that they all start using it;
2. The fact that there doesn't seem to be a 'real coin' method, so that you can hold a physical coin in your hand to trade with others face-to-face.

Regarding #2, is somebody going to come up with a chip in a coin-sized object which will hold certain amounts of bitcoins or bitcoin fractions? Of course, such a chip-coin would need to have a reader the size of a cell phone, that one could use to see if the chip-coin had been compromised... by comparing the chip-coin to the blockchain at the point of trade.


Bitcoin Becomes 12th Largest Asset Worldwide by Valuation, Surpassing Visa


https://news.bitcoin.com/bitcoin-becomes-12th-largest-asset-worldwide-by-valuation-surpassing-visa/
However, its price has decreased by 6.5% in the last 24 hours. Out of the 7,316 companies, crypto assets, precious metals, and exchange-traded funds worth more than $82 trillion in value, bitcoin is the 12th largest asset worldwide by valuation.

Bitcoin's Market Capitalization Compared to Other Top Assets: Leading Crypto Climbs Above Visa, But Lags Behind Meta

Crypto assets, specifically bitcoin (BTC), have increased in value this week following the collapse of three major U.S. banks. Over the past 24 hours, bitcoin (BTC) has dropped 6.5% against the U.S. dollar. However, weekly metrics indicate that BTC is up 9.6% week over week. Most of BTC's increase occurred on March 14, when it jumped above the $26K zone to precisely $26,533 at around 9 a.m. (ET) on Tuesday. As of 2:35 p.m. on March 15, bitcoin is exchanging hands for $24,357 per unit.
...

[Nwada001]

When we talk about stability, I wouldn't compare Bitcoin in some way to gold and silver in terms of stability.
Gold and silver prices are more stable than Bitcoin, but Bitcoin has greater strength when it comes to resistance and bouncing back.
When the Bitcoin price wants to drop, it can drop beyond prediction, and when the price wants to pump, it can also do the same.

Of course, such a chip-coin would need to have a reader the size of a cell phone, that one could use to see if the chip-coin had been compromised... by comparing the chip-coin to the blockchain at the point of trade.

if the idea of the proposed chip coin is to be considered. How will the price of each chip be calculated? Will it be equal to 1 BTC based on the market price, or will it be chipped and produced with specific amounts of SATs holding on each of them just as normal currency value defers?

How many of these Chip coins are going to be produced since one can become useless after a first-hand trade and the buyer claims the proclaimed amount into his wallet, leaving the wallet empty?
just asking to be sure.

[Anonylz]

The price of Bitcoin seems to be showing that Bitcoin is something stable like gold or silver, erc.  The problem is twofold:
1. how to make Bitcoin to be better known among the population, so that they all start using it;
2. The fact that there doesn't seem to be a 'real coin' method, so that you can hold a physical coin in your hand to trade with others face-to-face.

Regarding #2, is somebody going to come up with a chip in a coin-sized object which will hold certain amounts of bitcoins or bitcoin fractions? Of course, such a chip-coin would need to have a reader the size of a cell phone, that one could use to see if the chip-coin had been compromised... by comparing the chip-coin to the blockchain at the point of trade.

I don't think it is correct to describe the price of btc as that of gold, i mean btc dropped to 19k plus and also in a couple of days rose to 26k Plus, you can't see gold price move like that especially within a couple of days.
-There is no other way to make btc known to more people than to keep promoting it in every way possible, through whatever means necessary to get the information across to the people, especially from the grassroots.
-It is called digital currency because it has no physical coin that represents it, which makes it easier to transact with assuming it has a physical coin, it will be too bulky to carry along.

[Haunebu]

Firstly, BTC is better than gold and silver and it has proven that on multiple occasions if you ask me. Secondly, I don't think anyone requires BTC in physical form barring a few exceptions such as souvenirs etc.

BTC is already well known globally, but only a small percentage of the world population actually invested in it though this percentage is growing slowly and steadily with time in an organic manner.

The learning curve for beginners needs to be simplified for this growth to speed up in the future.

[BADecker]

When we talk about stability, I wouldn't compare Bitcoin in some way to gold and silver in terms of stability.
Gold and silver prices are more stable than Bitcoin, but Bitcoin has greater strength when it comes to resistance and bouncing back.
When the Bitcoin price wants to drop, it can drop beyond prediction, and when the price wants to pump, it can also do the same.

Of course, such a chip-coin would need to have a reader the size of a cell phone, that one could use to see if the chip-coin had been compromised... by comparing the chip-coin to the blockchain at the point of trade.

if the idea of the proposed chip coin is to be considered. How will the price of each chip be calculated? Will it be equal to 1 BTC based on the market price, or will it be chipped and produced with specific amounts of SATs holding on each of them just as normal currency value defers?

How many of these Chip coins are going to be produced since one can become useless after a first-hand trade and the buyer claims the proclaimed amount into his wallet, leaving the wallet empty?
just asking to be sure.

I didn't mean a strict comparison with gold and silver regarding volatility.


Chip-coins could be set with any value locked in. Anybody could get a blank chip-coin and add original value to it, but once it was there, it would be like a locked wallet that you traded. It's value could be checked by plugging it into a reader to compare it with the blockchain.

Nobody could enter bitcoins into the chip-coin in its blank state, except that he owned them in  the blockchain already. But once he 'sent' them to the chip-coin, a hash would be made in the chip-coin and blockchain that didn't have any address to take them out again. Of course, since this is only an idea so far, it might be better to have a method built right into the chip-coin so that a reader could remove the bitcoins therein. We need real Devs to think about all this.

Would it be advisable to give the chip-coins an internal destruct mechanism to protect against people who wanted to physically alter them? This, and losing chip-coins, would be like burning them... like the Genesis blocks, until Satoshi moves them.

If enough bitcoins were lost or burned, the rest would naturally increase in value, so that the population of the world might have a substantial amount of them by using satoshi's rather than bitcoins. Wallets could be made that could split satoshi's into any number of smaller bits. Of course, the blockchain might need to be adjusted for this.

The most important understanding in this whole thing might be, we would be trading wallets rather than bitcoins directly. We could do this right now if we started a whole new kind of blockchain along with the original... an encrypted wallet transfer blockchain, that could both, check the value of the wallet, and be totally encrypted as the current blockchain... perhaps with a hash as the new wallet password every time it changed hands, so the old owner could no longer use it once he gave it up.

Just some thoughts.



EDIT: Trading wallets rather than trading bitcoins might bring the whole thing out of the domain of government regulations. At least, they would have to start a whole new train of thought to make regulations that would fit wallets.

[panganib999]

Good news, goes to show that bitcoin is becoming recognized more than ever, and people are really seeing the viability of bitcoin in the common day scenario, maybe even lead to its global adoption. however, what it boasts in valuation, it lacks in stability. It can't hold a candle in the presence of much more tried and tested assets like gold and silver who have been in the relatively same spot for thousands of years, and have consistently proven themselves a worthy asset to invest and protect the wealth of billions of people in the planet. Although I think that's asking too much from a store of value that hasn't even been in the industry for more than 20 years, especially comparing it to gold and silver who has been directly tied to humanity ever since we started to realize we can mix metals to make shiny, sturdy things.

[seoincorporation]

Do you think that someday Bitcoin will be the number one largest asset worldwide? That would be something awesome to see.

I can't remember how much was the market capitalization when bitcoin price was over $60k, but I remember the total cryptos market cap was close to $2T, so, at that moment bitcoin was in the top 5 Assets for sure.

So, let's be patient and wait for a new ATH and see if it can hit the number one asset this time.

[jackg]

Stocks and bitcoin are similar in their level of being unable to have #2. If you own a majority stake in a company you still don't get anything that represents that (maybe a piece of paper that'll take you 4 months to a year to sell if the company is valuable enough).

Gold and most metals are hard to divide too in the same way, divisibility trumps physical representation imo and likely will for a long time. A newer version of a Casascius coin could resolve the "no physical representation" part but I don't know if the technology to make them fully tamper proof is complete (the hologram for a cas coin was suggested to come off without a trace if it was mixed with a solution).

[mendace]

Regarding the first point, knowledge about Bitcoin could be spread through education and awareness of its characteristics and potential uses.  This could be done through marketing and advertising campaigns, etc..

Regarding the second point, there are already some hardware wallet solutions that allow users to store their Bitcoins in a secure physical device, such as a USB stick, which can be used to make face-to-face transactions.

As for the change in the price of Bitcoin, as with any financial asset, it is susceptible to sudden fluctuations and changes based on market supply and demand.

[serjent05]

Firstly, BTC is better than gold and silver and it has proven that on multiple occasions if you ask me. Secondly, I don't think anyone requires BTC in physical form barring a few exceptions such as souvenirs etc.

They have different strength and weaknesses so saying Bitcoin is better than gold is subjective.  Volatility-wise, it looks like gold beat BTC but BTC beat gold in price growth potential.

BTC is already well known globally, but only a small percentage of the world population actually invested in it though this percentage is growing slowly and steadily with time in an organic manner.

The learning curve for beginners needs to be simplified for this growth to speed up in the future.

Only a small percentage of the world population invested in Bitcoin because they are still hesitant to invest because of the wrong information and propaganda these anti-bitcoin groups are spreading. But we know that these groups will be shamed in due time.

[Don Pedro Dinero]

Do you think that someday Bitcoin will be the number one largest asset worldwide? That would be something awesome to see.

I can't remember how much was the market capitalization when bitcoin price was over $60k, but I remember the total cryptos market cap was close to $2T, so, at that moment bitcoin was in the top 5 Assets for sure.

Yes, I don't remember exactly but I think the 4th or 5th asset was there. At that time we were in the middle of a bull run and we didn't think the price was going to go down as much as it did. Being the second asset after gold in this cycle seemed more than feasible.

[dzungmobile]

I can't remember how much was the market capitalization when bitcoin price was over $60k, but I remember the total cryptos market cap was close to $2T, so, at that moment bitcoin was in the top 5 Assets for sure.

Yes, I don't remember exactly but I think the 4th or 5th asset was there. At that time we were in the middle of a bull run and we didn't think the price was going to go down as much as it did. Being the second asset after gold in this cycle seemed more than feasible.

I don't know it had a rank at 4th or 5th in the last bull run. I just remembered it was in top 10.

Checking history and see
https://www.globaldata.com/data-insights/financial-services/bitcoins-market-capitalization-history/
At peak of the last bull run, total marketcap of Bitcoin is about $1,250B.

Today, marketcap of top companies are like this
https://coinmarketcap.com/largest-companies/

Amazon at 7th position has $900B but I am sure it was bigger in November 2021 when Bitcoin marketcap got its all time high.

Looks like impossible for Bitcoin to has 4th or 5th position in November 2021.

[Gayong88]

My opinion for Bitcoin to be better known I think education and awareness campaigns one option is to properly promote the benefits of using Bitcoin as a form of payment to the public such as social media, educational resources and mainstream media outlets. Additionally, governments and financial institutions can play a role in promoting the use of Bitcoin by integrating it into their payment systems and services.

I think it is possible that a chip in a coin-sized object could be developed to hold a certain amount of bitcoins or bitcoin fractions and be connected to a digital wallet which would require an internet connection to access the blockchain and verify transactions. Basically it is a physical representation of a digital currency that can be used for face-to-face transactions.

[BADecker]

A disruption in the smooth operation of Bitcoin would make chip-coins valuable in their denominated face.

Somebody took out Nord Stream 2. There are miles and miles of underwater Internet cables. Take out some of the cable, and what do we have with Bitcoin? Separate consensuses? Based on continents or countries? If a re-connection didn't happen for two years, would China's consensus overpower America's? All the while that the the cables were out, would we all stop using Bitcoin until the cables were reconnected?

Chip-coins with a face value would be a thing that could convert people into solidly using Bitcoin, just because people like to hold their money in their hands. Everybody finds a better deal on purchases after he makes his purchase. And certainly there are worse deals. Chip-coins would make it feel and be more real to people. Especially in the event of several main consensuses around the world.

An app for a cellphone that could tether-connect to a reader to check a chip-coin's true value. But in the face of no local Internet temporarily, face-value chip-coins to do local transactions.