Quote from: jbreher on November 01, 2017, 06:51:09 PM

Incidentally, the worldwide semiconductor industry has just hit an all-time revenue high of $108B:

https://www.eetimes.com/document.asp?doc_id=1332540

Semiconductors. Worldwide. What is Bitcoin's market cap again?

Think gold...

Every year, 3500 tons are mined (or 112.5m ounces). These require 1300$ x 112.5m ounces = 146.25bn USD.

Now these 146 billion, is for every year. Another 146bn will be needed next year, and the year after that, etc etc etc - expanding into cash requirements of the trillions range (1.5 trillion for 10 years of gold mining production).

The entire Bitcoin marketcap, in comparison, is just the money needed to absorb just a few months of the global gold mining production.