Value of bitcoins in circulation hits record high of $14bn
Price per coin at $875 as cryptocurrency’s value doubles in a year, with experts linking it to depreciation of Chinese yuan The total value of all bitcoins in circulation hit a record high above $14bn (£11bn) on Thursday, as the web-based digital currency jumped 5% to its highest levels in three years after more than doubling in price this year. The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014, putting the cryptocurrency on track for its best daily performance in six months. That compared with levels around $435 at the start of the year, with many experts linking bitcoin’s rise with the steady depreciation of the Chinese yuan, which has slid almost 7% in 2016. Is bitcoin the answer if traditional investments are letting you down? Data shows the majority of bitcoin trading is done in China, so any increase in demand from there tends to have a significant impact on the price. The web-based bitcoin currency can move money across the globe quickly and anonymously with no need for a central authority. That makes it attractive to those wanting to get around capital controls, such as China’s. The currency is still some way off the peaks it scaled in late 2013, when it traded as high as $1,163 on the Bitstamp exchange. But because more bitcoins continue to be added to the system, currently at a rate of 12.5 every 10 minutes, its total value – or “market cap” – on Thursday surpassed the 2013 peak of $14.01bn. That puts its total value at about the same as that of an average FTSE 100 company. Charles Hayter, the founder of data analysis website CryptoCompare, said bitcoin had been helped higher by demonetisation in India, and by global political uncertainty. “If that trend continues, bitcoin is a good thematic play on the fracturing of our global norms as a flight to safety,” he said.
Not really anonymous, more elements like darknets, p2p exchange, etc is needed for that. Even different coin tech such as zcash. And adding coin to market drops market price, thus market cap. A better market cap metric might be the current net sum of all historical BUY-IN's and SELL-OUT's of the currency since its inception at the 'quantity x price' at which each transaction at that time occurred. Perhaps adjusted to reflect relative x-flation to a chosen fiat using some purchasing power index. Adding some days-destroyed method to compensate current value for long term hold is interesting too. IN/OUT central/p2p exchange data isn't published. So the next best is sum of 'coin generation x price' at that time. No?
On Thu, 22 Dec 2016 14:22:06 -0500 grarpamp <grarpamp@gmail.com> wrote:
Price per coin at $875 as cryptocurrency’s value doubles in a year, with experts linking it to depreciation of Chinese yuan
Sure. The price in FUCKING DOLLARS changes because of the yuan. That surely makes sense to "experts".
# How much Trump "bitcoin-friendly-team" affects price https://bitcointalk.org/index.php?topic=1724618.0 " I did a little research and found out that Trump's current Cabinet team is a very Bitcoin Friendly one. specially the "budget chief", Congressman Mick Mulvaney who has always been a pro-bitcoin person. much more information here: http://www.investopedia.com/news/why-trump-budget-chief-pick-good-bitcoin/ http://fortune.com/2016/12/07/donald-trump-bitcoin/ with these types of action and specially the news coverage, how much do you think bitcoin price will be affected today and in the future as they start working? many are already speculating $2000+ Bitcoin to $2000 CNBC "
# Economics https://bitcointalk.org/index.php?board=7.0 # Speculation https://bitcointalk.org/index.php?board=57.0
They were below $600 last time I grabbed a couple... Too bad I spent the fuckers. On December 22, 2016 2:22:06 PM EST, grarpamp <grarpamp@gmail.com> wrote:
Price per coin at $875 as cryptocurrency’s value doubles in a year, with experts linking it to depreciation of Chinese yuan The total value of all bitcoins in circulation hit a record high above $14bn (£11bn) on Thursday, as the web-based digital currency jumped 5% to its highest levels in three years after more than doubling in price this year. The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014, putting the cryptocurrency on track for its best daily performance in six months. That compared with levels around $435 at the start of the year, with many experts linking bitcoin’s rise with the steady depreciation of the Chinese yuan, which has slid almost 7% in 2016. Is bitcoin the answer if traditional investments are letting you down? Data shows the majority of bitcoin trading is done in China, so any increase in demand from there tends to have a significant impact on the price. The web-based bitcoin currency can move money across the globe quickly and anonymously with no need for a central authority. That makes it attractive to those wanting to get around capital controls, such as China’s. The currency is still some way off the peaks it scaled in late 2013, when it traded as high as $1,163 on the Bitstamp exchange. But because more bitcoins continue to be added to the system, currently at a rate of 12.5 every 10 minutes, its total value – or “market cap” – on Thursday surpassed the 2013 peak of $14.01bn. That puts its total value at about the same as that of an average FTSE 100 company. Charles Hayter, the founder of data analysis website CryptoCompare, said bitcoin had been helped higher by demonetisation in India, and by global political uncertainty. “If that trend continues, bitcoin is a good thematic play on the fracturing of our global norms as a flight to safety,” he said.
-- Sent from my Android device with K-9 Mail. Please excuse my brevity.
On Thu, Dec 22, 2016 at 4:31 PM, John Newman <jnn@synfin.org> wrote:
Too bad I spent the fuckers.
Not really, spending legitimizes. Investing, even profit taking, is different. Either way, the long term performance and prospectus for BTC does appear to be nothing but up, if for no other reason than hodling investors, kind of stupid but true. The real questions are still... - blockchain size and txrate - any need to replace it with a more inherently anonymous currency - regulation - adoption in marketplace (and nullify preemptive regulation)
On December 22, 2016 9:21:51 PM EST, grarpamp <grarpamp@gmail.com> wrote:
On Thu, Dec 22, 2016 at 4:31 PM, John Newman <jnn@synfin.org> wrote:
Too bad I spent the fuckers.
Not really, spending legitimizes. Investing, even profit taking, is different. Either way, the long term performance and
True, and actually most times I've bought coins or portions of coins I've spent most of my balance in a very short time period after wards. I'm not a "BTC speculator" and was jokingly bemoaning the fact that these sorts of people are potentially making a lot of money..... Unless they never sell off to see a profit and there is a problem (eg something like the mt gox fiasco affects them, or BTC value plummets for some reason..)
prospectus for BTC does appear to be nothing but up, if for no other reason than hodling investors, kind of stupid but true. The real questions are still... - blockchain size and txrate - any need to replace it with a more inherently anonymous currency
Considering the moderate hassle involved with tumbling coins for total anonymity, maybe one of the other blockchain currencies is better in this regard. I don't know enough about the alternatives to say.
- regulation - adoption in marketplace (and nullify preemptive regulation)
-- Sent from my Android device with K-9 Mail. Please excuse my brevity.
On December 22, 2016 9:21:51 PM EST, grarpamp <grarpamp@gmail.com> wrote:
On Thu, Dec 22, 2016 at 4:31 PM, John Newman <jnn@synfin.org> wrote:
Too bad I spent the fuckers.
Not really, spending legitimizes. Investing, even profit taking,
Right - the times I've invested in coins I always had reason beyond mere speculating and spent my balance quickly. I wish I'd had enough courage (and cash) to put some real money in BTC a long time ago and let it sit for a while...
is different. Either way, the long term performance and prospectus for BTC does appear to be nothing but up, if for no other reason than hodling investors, kind of stupid but true. The real questions are still... - blockchain size and txrate - any need to replace it with a more inherently anonymous currency
There is some minor hassle in securely tumbling coins to really anonymize BTC as much as possible. I know there are a number of other competing blockchain currencies these days ; I don't know if this aspect is or can be handled "better" than is done in BTC. I literally don't know, having never done more than read the most cursory of info about any of the others ;)
- regulation - adoption in marketplace (and nullify preemptive regulation)
-- Sent from my Android device with K-9 Mail. Please excuse my brevity.
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