If this chart doesn't show that we are not, nor are we even close to a bubble, then people just dont understand money.
I laugh, on the inside as to not be extra disrespectful, when people ask me if i think its too late to invest. The mere fact that the questions previous to that are "what is a bitcoin" or "do i have to buy a whole one" should be enough to let you know that we are not in a bubble. Can we be in a bubble when most dont even know what it is?
This chart further illustrates that Bill Gates alone, could purchase all Bitcoins currently in the market. And a company like Apple could purchase all Crypto currencies that exist. With such a small percentage of the total money supply taken up by cryptocurrency, there is still monumental room for growth.
If we are conservative and only assume that Bitcoin may catch Bill Gates in total market cap one day, at that point BTC would be worth upward of $5,000 each. So what is the ceiling for Bitcoin? How high can the market cap grow? Not sure anyone can answer those questions, but one thing should be clear, we are just getting started.
Bill Gates IMO cant buy all crypto cos the price is a dynamic category. He could buy all coins if the price would not change much, but if you offer billions to buy say all BTC, that will lead into a situation that 1BTC will cost like maybe 100k or even 1M, same would happen with all coins. That s why banks and governments cant just buy /stop them.
You are correct, this was a way to get you to put things in perspective, not an actual thinf that could occur. Just to add to your point, thay net worth of those individuals and companies is not all liquidated, so that dies not represent their purchasing power.
Purpose of this post is to help those that believe it may be too late to invest in crypto to undrrstand this is in the very begining stages. Most currencies are worth much mire than one individual personally controls
We sure are at the beginning and there will be space of all kind of coins and solutions. After an information age it is coming the decentralisation age.
I completely agree. Love the way you put this post together!
Thank you, new to Steemit as well as Crypto, but love the productivity and positivity in this community. As addictive as the gains ive been seeing.
The problem is what value does cryptos create at this time. Apple creates electronics, Amazon provides 2-day delivery. Continued adoption of crypto will increase its value, but there is still too much uncertainty which is what will cause the bubble. Too much of crypto price is driven by speculation and hype. That's why people worry.
And they are correct to worry, especially with the increased amount of money these ICO's are raising. But I think at this point in the game, most of the investors understand the utility the blockchain can bring.
I am.one of those who believe that the best Crypto may not even exist yet as we are constanly making new advances in this space.
However, at the end of the day, when most of the Alt/crap coins fall by the waistside, I do believe Bitcoin will be around. In my opinion, more as a store of value, i.e. the way we use gold or silver now, and some new faster more advanced crypto, if not several, will take over the micro transaction sector of the market.
Agreed
Totally agree. This is just the beginning! Long live cryptocurrencies!
The volatility of this space is what concerns me the most. We see exponential growth for months and a week of loss has skittish investors running for the hills. I think people understand the utility of a decentralized currency. They aren't yet convinced someone (or some country) won't shut it down.
It s like investing in mobile communications companies when GPS was invented but before 1st self phone was made.