Quote from: Zouhannes on January 02, 2014, 12:14:26 PM

Quote from: mssonya on January 02, 2014, 10:37:45 AM

Quote

Just broke a million (again)

375300237 ASC * 0.00012250 ASC/LTC * 23.5798 USD/LTC = 1,084,064.30473 USD

Oh, and just noticed ASC is now listed here: http://coinmarketcap.com/ Cheesy

I think that now is a good time to again remind us all that use of the term "market cap" (as in "market capitalization", or capitalized value of the market) is inappropriate for coins. The term implies that, in the above example, 1,084,064 USD of value exists in that coin, or that this sum of money has flowed into the coin. This thinking is inherently flawed. Quite simply, this is that value of all coins if everyone were able to sell their coins at the current market rate. This assumes that the value would not fall during such a sell off. Sites like coinmarketcap.com simply take the going rate for the coin and multiply it by the total in circulation. I think it is important that people understand this - ~9 billion USD (or equivalent) has not flowed into Bitcoin per se, only a fraction thereof.

Sonya

Market caps have always the same problem, doesn't matter which financial instrument you are talking about.
http://en.wikipedia.org/wiki/Market_capitalization

Well, nonetheless, currencies do not have "market caps". Your wikipedia link states that "Market capitalization (or market cap) is the total value of the issued shares of a publicly traded company."
http://www.businessweek.com/articles/2013-12-05/bitcoins-volatility-problem-why-todays-sell-off-wont-be-the-last