Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Speculation
Re: Dispelling Misconceptions: Why Bitcoin has Room to Rise
by
BTCtrader71
on 07/12/2013, 01:05:04 UTC
Quote from: gla22 on December 06, 2013, 10:59:36 PM
Quote from: BTCtrader71 on December 06, 2013, 10:27:49 PM
Quote from: gla22 on December 06, 2013, 10:18:04 PM
Bitcoin's market cap of approximately 12 Billion dollars is dwarfed by Visa's credit purchase volume of $981 billion for 2012.

I agree with you that bitcoin still has room to grow. But when it comes to calculate how high, why is it that the two numbers in the quotation above are comparable? Why do you choose Visa's credit purchase volume totaled over a year, as opposed to a month, a week, a day, a decade .... ?


Its true those two numbers are not directly comparable and that is a weak point of the article.

Even though I made the critique, I'm not sure how to fix it. It is the zillion dollar question: how do we calculate the target price of BTC? What variables do we need? I think the velocity of bitcoin needs to be a variable, and any estimate that does not have that as part of the calculation is suspect to me; that's as far as I've gotten Wink ...