Think more interesting number would be total paid-in capital. That would be a better metric to gauge the baseline value. My guess is it’s closer to $10-20B.
Bitcoin is one of the most successful open source technologies of all time and the best decentralized network ever created, surpassing BitTorrent. This is a stunning achievement of pure computer science and economic game theory that enables strangers to act only in their self interest to secure and grow the network.<p>No matter what you think of bitcoin, you must admit this has been successful beyond anyone’s wildest expectations only 12 short years ago. It’s rise and acceptance into the deepest reaches of traditional finance and conservative institutions like BNY Mellon is absurd in its speed and their willingness to accept fundamental change. We are in the midst of a paradigm shift to open financial protocols and huge innovation in capital markets. On to the next decade of crypto!
That’s about 0.2% of global wealth allocation. I wonder when the people who normally recommend 30% of your portfolio in bonds will recommend bitcoin as the cash equivalent. That would leave a 150x potential from here.
Whenever a BTC article makes it on HN, I see a flood of negative comments on how it's a bubble, just for speculation, etc. Can someone provide a solid bull case for BTC?
Bitcoin working properly = tool to lock in your value with a limited and deflationary currency. Each individual is incentivized to do this (as early as possible). Society as a whole is not, because it will create inefficiencies. Governments are not, because it takes away their economic levers.<p>Idk where this will go, but I will ride the bubble/pyramid.