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A comment on Bitcoin Is Now Bigger Than Goldman Sachs and Morgan Stanley. Parent comment

Re:Bitcoin Is Now Bigger Than Goldman Sachs and Morgan Stanley by vannevar on Friday October 13, 2017 @12:44PM (#15467251)
Number 59 based simply on the amount of Bitcoin owned, or the rate of real world transactions (as opposed to mere speculation) conducted in it? I would argue that the latter is a more valid way to measure a currency, and I seriously doubt Bitcoin would crack the top 100 by that measure. The Bitcoin "economy" is almost entirely made up of currency trading.
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Re:Bitcoin Is Now Bigger Than Goldman Sachs and Morgan Stanley by rothbardrand on Friday October 13, 2017 @01:39PM (#15467712)
Ranked by value. I don't get how "mere speculation" is considered a bad thing, or makes bitcoin irrelevant. IF it's digital gold right now, fine. Its gold that costs nothing to store, and very little to transport, unlike actual gold.

Gold has a market cap of $8T. If that's the use case bitcoin ever has, it will still ultimately be worth $380k each if it grows to bitcoins size... and it has several advantages over gold.

Is gold worthless because its "merely speculative"??

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Re:Bitcoin Is Now Bigger Than Goldman Sachs and Morgan Stanley by vannevar on Friday October 13, 2017 @05:12PM (#15469268)
I didn't say Bitcoin was worthless, it clearly is not. But it is not a viable currency yet. Gold is also not much used as currency anymore, though it once was.
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