Quote from: EcuaMobi on June 20, 2017, 05:30:51 PM

Quote from: Ted_Nugent on June 20, 2017, 04:55:09 PM

Greetings,

Can someone clear something up for me regarding the price of cryptos in relation to it's market cap. Recently I made mention of the high cost of Byteballs currency of some $700 and a member on this forum replied with -

Don't look at the price for one GB, take a look at the market cap of Byteball, than you will see that byteball is not so expensive!

-Can we finally please realize the change to MB, I am really sick of this discussions!.

I see market cap as being described as its true value. Beyond this I dont understand this members comment?

There are seemingly two components here i.e. 1) Price of Byteball in relation to its market cap and 2) The change to MB, both of which I do not fully grasp. Can anyone shed some light? Thanks.

The market cap is the (theoretical) value of all the coins. That is number of coins * price of every coin.
At the moment there are 255,492,000,000,000 bytes in circulation. You can also call that amount 255,492 GB or 255,492,000 MB.

Each GB is worth about $725 at the moment; that means each MB is worth about $0.725. So the total market cap of Byteball is about $185 million, which is very low compared with the top coins by market cap which exceed several billion dollars.

1 GB is worth $725 but every GB equals to 1,000 MB or 1 billion bytes. There are only 255k GBs.
It probably makes more sense to use MB as the base unit instead of GB. In that case every coin is worth less than 1 dollar and there are 255 million of them.
Or you can use the byte as the base unit and every coin is worth only $0.000000725! (so cheap!). So as you can see the value of 1 arbitrary unit is not that important because you can just change the unit.

Now, please read at least the first post before posting any other question.
You should also read the basis about bitcoin and crypto-currencies in general.

Thanks for your reply, I'll have a look at the links you posted also. I'd like to say however, that at this time, without going over the forum, that it appears that this division of GB and MB seems to more over of value in light of the Byteball offer i.e. 62.5 X and 0.2 etc. One bitcoin is $2800 and you can divide this in fractions also, but you are still paying $2800 for one; this verses what you paid a few years ago. One byteball is still $700+ and this is mainly important to what you could have paid in the past. For those who wish they could get the 0.2 X offer, the cost of the Byteball currency is expensive, as compared to most other crypto's. The value of the byteball crypto, I'm still to research, in light of a member saying it's better than most of the top 10 crypto's? Thanks again.

Ted_Nugent

Posts

Merits