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Author Topic: Bitcoin's money supply is >$50M (first time since January).  (Read 906 times)
DeathAndTaxes (OP)
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Gerald Davis


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June 08, 2012, 04:20:49 PM
Last edit: June 08, 2012, 04:34:38 PM by DeathAndTaxes
 #1
How long before $100M?

http://blockchain.info/charts/market-cap
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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June 08, 2012, 09:22:54 PM
 #2
I like its angle of approach better this time.  We can do sanity checks along the way ... like,   how many more people are using bitcoin today as a currency versus a month ago when the exchange was nearly $1 less?

And the answer appears to be, a few more.

So here's the chart that to me, matters more:

 - http://blockchain.info/charts/n-transactions-excluding-popular
Unichange.me

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June 08, 2012, 09:59:35 PM
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Quote from: DeathAndTaxes on June 08, 2012, 04:20:49 PM
How long before $100M?

If the price doesn't change much...20 years or so.
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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June 08, 2012, 10:06:51 PM
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The current fiat system is in its death throes. The people will one day realize that bitcoin is the safest asset - probably after there's a major bank run.

That's when our little currency will start to really become worth something...  Grin
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