Re:Bitcoin surpasses $50K as major companies jump into crypto
by adamisom on Tuesday February 16, 2021 @05:51PM
(#26159816)
This doesn't necessarily mean you're invalid, but if BTC increased 100x, they'd exceed the world's GDP. So... yeah, though maybe you can't say that's impossible, if by some miracle BTC became the dominant currency in a (much richer) future.
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Re:Bitcoin surpasses $50K as major companies jump into crypto
by saalweachter on Wednesday February 17, 2021 @12:01PM
(#26168598)
> This doesn't necessarily mean you're invalid, but if BTC increased 100x, they'd exceed the world's GDP.
Ahh, but the asteroid 16 Psyche is worth $10 quintillion and one day we'll mine it. That lets the BTC cap go 100,000x further than the world GDP.
[On a more serious note, note that GDPs have a time component and market caps -- or the amount of a currency in circulation -- don't. If each unit of money gets spent every month, you only need GDP/12 units of money in circulation; if each unit of money gets spent every 10 years, you need GDPx10 units of money.]
Re:Bitcoin surpasses $50K as major companies jump into crypto
by marvinkennis on Tuesday February 16, 2021 @06:20PM
(#26160105)
I'm holding a tiny amount of BTC, but this has been my reason not to invest more. I know that at most I might be comfortable investing $20K in Bitcoin now, but that's literally it. If that amount increased 100x, it'd be $2mm. A good amount of money but by no means life changing to the extent that I will forever regret it.