I couldn't tell from the article - how do they define 'market cap'? Nr of currently mined coins * current value? Because if so, how does that make sense - nobody knows how many coins are 'lost'. Is there anyone watching e.g. how many coins haven't moved wallet since, say, 2013? Like, satoshi's coins - does it make sense to include those in any metric?<p>(maybe they're using an entirely different definition in which case the above is moot)
One key difference right now, though, is that I can use my Mastercard to pay for just about anythying just about anywhere I happen to be. In comparison to this worldwide acceptance as a means of payment, BTC seems just about worthless.
I'm a bit weary. Say this cryptocurrency thing does take of and it's not a bubble. Then wouldn't this have similar effects that quantitative easing would have? I understand quantitative easing as 'printing money', because I'm not an economics person.<p>But if this would take off and get a strong foothold at the prices that we're seeing now (bitcoin almost 10K in dollars), then didn't some subset of techies print <i>a lot</i> more money than there is?<p>To me it seems there might be a chance that we're devaluing real currencies by quite a bit over the course of the next couple of years. Of course, the bigger chance is that this is a bubble and it will pop, but what if it isn't?<p>I know this is quite an unnuanced comment. I'm putting it out here, because I feel other people have the same concern and would like to see people who know a bit more comment on these ideas.
The price of bitcoin is totally fraudulent, driven by a couple of exchanges literally printing money, and gullible people doing arbitrage and exchanging bitcoin for tether.
gold has $7 Trillion and I fail to see how gold is a better store of value, I fail to see why would anyone buy gold bullion for example, is just a piece of metal.
The comments on Bitcoin in here are almost all made by people who don't understand what they're talking about, spewing lies and half truths. Zero understanding, zero facts, 100% angry. It's hilarious.