Quote from: zimmah on December 13, 2013, 09:18:59 PM

Quote from: freet0pian on December 13, 2013, 08:38:57 PM

Quote from: zimmah on December 13, 2013, 06:34:13 PM

the second link says:

Quote

Reality: By any objective measure, bitcoin is tiny at a total value of $10.8 billion. Since one of the complaints about bitcoin is that it can enable hard-to-trace criminal activity, lets compare that amount to the real enabler of drug sales, tax evasion, and even more heinous crimes the world over: the U.S. $100 bill. There are about $400 billion of those floating around the world. Total stock of cash money in the U.S.: about $800 billion. And when you look at total cash around the world, the number is about $3.8 trillion. Bottom line: bitcoin at current valuation is 0.3% of the worlds cash money. That is not huge.

stopped reading right there, a source that's that bad at math doesn't have any creditably at all.

10.8 billion / 3.8 trillion = 0.3%? not even close (it's closer to 0.03%)

also, this is more of an argument how much growth potential bitcoin actually has.

if bitcoin grow to only 3% of the worlds money supply (which is entirely possible), bitcoins value would go up by a 100 times.

even 30% is easily possible, which means the value of bitcoin could increase by a 1000 times, making each bitcoin worth rougly a million (in todays dollars).

Errr, maybe you should learn math 10.8/3800 * 100 = 0.284...

"It will EASILY go to a million dollars muahahahahaa" [holds pinky on lips]

Go Timmeeeh!

10.8 *10^9 / 3.8 *10^12 = 2.84...*10^-3 = 0.00284

0.00284 = 0.284%

You're somehow confusing and %. Honest mistake? Otherwise I hope you don't handle anyone's finances...