Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I read an article that was downplaying Bitcoin by saying that their survey showed that bitcoin is used for only about 1% of e-commerce.
Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.
1% of $2 trillion is $20 billion. A $20trillion billion market cap for bitcoin would be $1,300 per bitcoin. In 2020 e-commerce alone could account for $2,500 per bitcoin and there are many other uses for Bitcoin.
Considering world e-commerce is currently at $2 trillion with a projection of $4 trillion in 2020.
1% of $2 trillion is $20 billion. A $20
are you taking into account the coins that will be mined until 2020?
That's why I rounded to $2,500 instead of $2,666.
But yes, 1% is a high number. The article I read was putting Bitcoin down because their survey found "only" 1% of the participants used bitcoin for ecommerce. Can't find the article now though
In my opinion 1% of online transactions would be a great level for BTC to be at. I suspect some currencies like the Swedish Krona are also less than 1% of world online transactions.