ARE WE READY? Meaning, is the crypto infrastructure behind ALL cryptos - the miners, internet, people, systems etc. Growth is good, but we are experiencing growing pains for sure, especially after watching this long drawn-out battle in BTC scaling. Meanwhile, the ALT-Coins boomed and then we watched ETH show signs of stress during this years ICO boom this year.
I take in an enormous amounts of crypto info, mostly via youtube (and now Steemit’s Dtube), but I rarely hear discussion about this topic specifically.
@sashadaygame reported in his Steemit article that there is 1.2 Guadrillion,
(1,200,000,000,000,000) dollars in the world, which would put the Crypto Market Cap, currently at $156 Billion at 0.02% as of this writing.
https://steemit.com/bitcoin/@sashadaygame/100billion-market-cap-bitch-please-here-s-why-crypto-will-go-up-100x-by-2020
Sue Chang’s excellent MarketWatch article on June 30, 2017 reported $83.6 trillion in “All Money”. Which reflects cryptos at about 0.20%.
http://www.marketwatch.com/story/how-big-is-bitcoin-really-this-chart-puts-it-all-in-perspective-2017-06-21
The chips will fall as they may in the world market as this convoluted monolith of the world’s old monetary system crashes and burns. No one can predict the future here of course, but the relative value of cryptos is still a drop in the bucket in the world market.
Don’t get me wrong. I’m as excited as anyone else in this crypto space to see amazing gains. And I am very thrilled to be here on the “Steem Community Train ”. That said, Steemit is not yet a social media my mother would likely use. I’ve asked about cryptos with my accountant, banker, PC guy as well as many friends and acquaintances if they know what bitcoin is. Bit-What? Is a common response..... And of course a couple of them still think it’s a ponzi scheme. I am happy to report that I do have 5 other people involved with cryptos.
PLEASE, I’m NOT looking for a debate about specific numbers and values and especially delving into anything related to the derivatives market. I’m not an economy or financial expert by any means, I would just like to hear some constructive conversation regarding the overall picture of cryptos relative to the INFRASTRUCTURE. I would be interested in your opinion, links & resources.
Full Steem Ahead!
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