Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Recently, Bitcoin market cap (i.e. total value of all Bitcoins issued) reached the $2 billion mark, surpassing small countries like Liberia and Guinea.
This should have been obvious.
isn't it $20 billion?This should have been obvious.
The authority for this is
http://www.coinometrics.com/bitcoin/bmix
Go to the bottom of the page and select Full Data Table
Bitcoin is currently 71 in the world (out of 191 countries) between azerbijan and lithuania
burma at 12 million?
okay, who wants to go in with me and buy burma?
Hmm, you know what, that's actually an interesting proposition. It's probably hard to buy a country using national fiat currencies, no matter how rich you are, but with bitcoins... you just might be able to do it (i.e., pay out the government + military to leave the country / hand over control). Maybe we will see a brave new world of corporations taking over nations now that they have a financial vehicle with which to do it.
I know these comparisons are tongue-in-cheek, but just for those who are confused as far as I can figure you couldn't buy a country for its GDP. I mean, even if you COULD buy a country... you couldn't buy it for its GDP. It wouldn't cost that little. That would be like buying a company for its earnings. But as we all know stocks trade for a PE multiple. Makes sense because you are buying ALL future earnings output, not just one year. So I think a PE of 10 would be ok esp. for these underperforming countries...
So Burma could go for 120million... that's way too... well... hmm...
So, what... ~100,000 BTC?
How 'bout we rename it Bitopia?