News for hackers. Stuff that matters.

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 sova on Friday October 13, 2017 @12:57PM (#15467368)
Wow, dollars in the world is $20T or some multiple? That's a great figure! I did not know that. Yes, $1T was the figure in 1990 but for physical dolla dolla bills.

I was attempting to link USD in circulation to BTC, not paying attention to BTC market price. With your updated figures $21T USD in circulation makes each Bitcoin $1M yes, your math checks out. ($1M x $1M is $1T ... were we to somehow make BTC our new Cryptographic "Gold standard")

With each bitcoin worth $1M, that makes each Satoshi about ... a penny?

[ Parent | on HN ]
Re:Bitcoin Is Now Bigger Than Goldman Sachs and Morgan Stanley by rothbardrand on Friday October 13, 2017 @01:40PM (#15467724)
100 million satoshi to a penny.

I don't really know what the ultimate value of bitcoin will be-- really determines on how well it resists attacks, and what level of services are built on top of it.

It's still the very early days.

[ Parent | on HN ]
Re:Bitcoin Is Now Bigger Than Goldman Sachs and Morgan Stanley by sova on Friday October 13, 2017 @02:16PM (#15468047)
Absolutely, it's not something transparent at this point, what the true realized value of a coin will be over the long-term. I appreciate your insights regardless, thanks for updating me on the amount of USD in circulus
[ Parent | on HN ]