I was thinking

How is bitcoin worth 160 billion dollars? Companies like Exxon and Microsoft are worth around this amount but they actually sell products, are a world organization with banks and hedge funds involved.

Bitcoin seems more like a giant bank holding everyones money with a promise of percentage return .. it seems more like a pyramid scheme to me. And if no one knows who created it .. doesn't it make sense if this was just being used to fund a side project like to push solar panel installations or propel rockets into outer space? Or world conquest..?

IDK I think you're all a bunch of dummies, but good luck.

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>digital immutable gold
>implying that isn't worth trillions

Gold was created by the earth through billions of years of evolution.. where bitcoin was created by some guy without a name in his basement presumably.. and many more have created alternatives to this gold with just as much ease.. but yea

you don't understand cryptocurrency. that why you will stay poor. tfw 99% of even new crypto holders don't read a single white paper.

I'm okay with money, and I got a good job because investing is.. well should be long term, I'm not for gambling.

bitcoin isnt a company. therefore trying to value it as such is pointless. it has limited supply and its demand increases due to its potential and transparency in changing the financial world as a future store of value the more and more people use it. the only reason why you are calling it a pyramid scheme is due to the nature of speculative traders trying to make a buck off of it due to the greater fool theory. i would do more research on it. read the bitcoin standard. great book that explains its value

Actually it came from space which is why there's so little of it here.

most people don't understand the power of transformative technologies in the beginning. many people didnt understand the potential for things like cars, the internet, google, when they first came out. their potential takes time to be realized.

>comparing asset market cap with share market cap.

The market cap of a company represents ownership in a company that must continue to PRODUCE something at a profit. Apple may sell 10 million iPhones, but it also pays tons of employees and parts and marketing and then has to sell more iPhones next year.

So it works out that the 800 billion “marketcap” of apple represents a fraction of apples real “value production” as investors would need growth to see a profit. Conversely an asset is worth exactly what it is worth. You’re comparing apples and oranges.

I know all of this. The math doesn't add up on the value of this thing. All the banks and all the investment firms in the world get together (And they presumably hold how much of the worlds money? 80%+) And they can only come up with 50 til for Tesla, 800 for Apple, 150 for Microsoft.. but you're telling me a bunch of people coming together and believing in this things value got 160 billion saved.. I don't believe it.. I don't think theres that much money in it and this thing can be pumped through bots.

>worth
First of all Bitcoin is not a company. It doesn't have quarterly or annual earning reports. Secondly, marketcap is a meme and only represents the latest price times circulating supply. In reality maybe 1% of the current marketcap is the total amount of fiat money invested in Bitcoin.
Thirdly, Bitcoin allows for permissionless, immutable, borderless and secure payments. The Bitcoin network has been in operation for more than 9 years without any downtime.

>a promise of percentage return

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I just don't believe there is 160 billion dollars sitting in bitcoin.

Hope you're joking

"During the formation of Earth, molten iron sank to its centre to make the core. This took with it the vast majority of the planet's precious metals -- such as gold and platinum. In fact, there are enough precious metals in the core to cover the entire surface of Earth with a four-metre thick layer."

There is not little of gold here. There is enough gold in the earth to cover the world in a 12- 13 inch layer

Only retards think gold is rare

>Hope you're joking
user and where is earth formed?

made me kek

I do realize everything is of cosmic origin, but the earths oceans are apparently covered in gold I was more pointing towards that you said there is little of it. It's just hard to extract.

>western art has a market cap greater than microsoft. What gives?
BTC has different appraisal metrics than Microsoft. It's programmatically assured scarcity, utility, and network effect.

It's all speculation.

there's no 160 billion dollars sitting in bitcoin, that number is just supply x current price, there's maybe 1-10 billion$ in there, you're on a business board, you should know that

You're confused about what market cap is, nobody came up with the money, and 160 billion isn't very much anyway

You forgot

>t. boomer

leave

Sorry I didn't write that very well. I don't even understand where a billion dollars sits in this market.. how.. it's just very unlikely.. theres nothing there but a promise and why would any country ever allow this to replace their currency .. maybe 3rd world?

>the point of bitcoin is to give you a return
>the value of bitcoin comes from how much it might go up in value and so on and so on

This is the most retarded conception of bitcoin I’ve ever heard. You hear people talking about making money from investing in bitcoin, and you think “oh that must be the entire point why it was created” then you think “oh it’s a pyramid scheme then” which is circular logic produced by your own retarded observations.

The value of bitcoin comes from the faith that everyone has in it to be used as a currency. Nothing more, nothing less. The value doesn’t come from PoW, it doesn’t come from the fact that it’s scarce and immutable, the only value is that people have FAITH in it. Just as people have faith in US dollars or Euros or gold or silver.

Currency merely represents an intermediary of exchange between people, it does not represent an actual transfer of value, so currency does not need to have any intristic value. Cash is the empty asset. A real asset, like farm land, is an actual transfer of value. If you buy a farm with $100,000, the only value that has transferred is that you now have a real asset instead of an empty asset. And if the farmer buys a sports car with the $100,000 you have him, then the REAL exchange of value is trading a farm for a sports car. So cash shouldn’t have any intristic value because it only need to be the intermediary of real trades, and to be the intermediary of trades the only thing that must be true is that the people involved have faith that the currency can be used for trade.

Humans were created from billions of years of evolution. Humans create AI. AI takes over in a short time and humans go extinct. Such is life.

Because worth and value isn't the same.

>the only thing that must be true is that the people involved have faith that the currency can be used for trade.
Trust in the value of traditional currencies is going down because traditional currencies can be exploited and are on a daily basis. There is no real system that checks that banks are only spending money they actually have for example. Bitcoin is transparent, finite and trustless, banks or other agents can't pretend to own more than they do. There is more reason to trust the integrity of Bitcoin than any national currency.